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Fannie Mae Selects Proacsys Technology to Help Reduce Multifamily Lender Costs and Improve Service

NEWTOWN, Pa., Nov 27, 2001 (BUSINESS WIRE) -- Proacsys LLC announced today that Fannie Mae (NYSE: FNM), the nation's largest source of financing for home mortgages, will be utilizing the Proacsys Metasystem(SM) technology to provide its multifamily lenders with an electronic means to deliver credit and collateral documents.

Fannie Mae will use the Proacsys Metasystem(SM) to significantly reduce the large set of paper documents multifamily lenders must deliver for each loan Fannie Mae purchases. Lenders will be able to deliver the required documents in their original electronic form (as Microsoft Word or Excel files, for example) using an Internet site developed and hosted by Proacsys.

Fannie Mae will also use the workflow capabilities of the Metasystem(SM) to automate a number of its post-purchase activities using the Web-delivered documents. The initiative is expected to save time and money for Fannie Mae's multifamily lender community.

The Metasystem(SM) is a flexible, Web-based business process automation software that combines state-of-the-art workflow capabilities with a highly scalable content management system.

"By Web-enabling the delivery of credit and collateral documents to Fannie Mae, Lenders can re-engineer costly, time-consuming paper processes" said Craig D. Wildrick, CEO of Proacsys. "By using the workflow capabilities of the Metasystem(SM), Fannie Mae can e-process their Multifamily loans, fully leveraging the electronically stored documents, improving process cycle time and reducing internal costs."

MortgageDaily.com
About Proacsys:
Proacsys provides custom process automation solutions and services, including its Metasystem(SM), a thin-client, content-based business process automation solution. The company, headquartered in Newtown, Pennsylvania, offers a range of services that enable fully automated, Web-based performance of mission critical tasks and proactive process management, on a hosted or licensed basis. For more information, please visit the Web site www.proacsys.com or call 215-570-4690.

About Fannie Mae: