FREQUENTLY ASKED QUESTIONS

How do Desktop Originator and LION work together?

LION provides Desktop Originator lenders and their sponsored originators with access to the Desktop Originator embedded credit retrieval and loan submission services via the LION Web site, www.lioninc.com, and the Desktop Originator Center Web site, www.lioninc.com/desktoporiginator. These Desktop Originator services are available to all MORNETPlus ® Desktop Originator subscribers. The Desktop Originator services available through LION function exactly the same as the embedded Desktop Originator services available through our loan origination system (LOS) integration partners: Byte?s Qualifier Series, Calyx POINT® for Windows® , Contour?s Loan Handler^TM and Genesis 2000®.

Why has Fannie Mae provided Internet integration for Desktop Originator?

The increasing popularity and effectiveness of the Internet as a vehicle for electronic communications and commerce have made it an important link between our wholesale mortgage lenders and their third-party origination partners. Enabling our Desktop Originator lenders to receive secure Desktop Originator loan submissions from their sponsored originators via the Internet provides both parties with a powerful new distribution channel and further maximizes the benefit of Desktop Originator in this new channel.

What is the Fannie Mae Desktop Originator Center?

The Desktop Originator Center enables lenders to offer their sponsored originators access to Desktop Originator through LION's Web site, www.lioninc.com/desktoporiginator. With this new integration relationship, Desktop Originator lenders can offer originators the benefits of Desktop Originator over the Internet. The Desktop Originator Center also provides general marketing information about Desktop Originator ? including information on product features and benefits, sponsoring lenders and upcoming training and events.

What does LION's online service provide?

The service provides wholesale mortgage rate, fee, and program information daily through LION's password-protected, subscription-based Web portal, www.lioninc.com. LION operates nationally, maintaining 26 separate databases with program and rate information organized regionally to account for variations around the country. Originators enter information about the loan that they are seeking and LION's Loan Search^TM quickly identifies the programs that meet the needs of their client. More than 450 wholesale mortgage lenders and 4,800 originators participate in the service, with over 500 new originators signing up each month. The LION databases contain over 11 million loan pricing variances and over 11,000 wholesale lender programs.

What is the process for accessing lender products and prices and submitting the Form 1003?

You can go directly to the Desktop Originator Center at www.lioninc.com/desktoporiginator, click on Submit a File, and follow one of two paths for completing your Uniform Residential Loan Application, Form 1003:

• you can import the Form 1003 from your loan origination system by following the simple steps shown on LION?s Web site, or
• you can complete the Form 1003 directly online.

Then, follow the standard steps for a Desktop Originator submission.

How LION Works

How will Desktop Originator lenders receive mortgage loan submissions from originators via the LION Web site?

All Desktop Originator lenders will be able to receive loan submissions from their sponsored originators via the LION Web site. Loans submitted via the LION interface adhere to the same process already established by lenders for Desktop Originator submissions and will be co-mingled with existing Desktop Originator submissions in their Desktop Originator loan browsers. Desktop Originator loan submissions completed from the LION Web site are subject to the same lender-specific product selection, product eligibility and Gatekeeper edits as all other Desktop Originator loan submissions.

Does LION?s Desktop Originator interface provide access to embedded credit retrieval?

LION provides Desktop Originator users with access to the Desktop Originator embedded credit retrieval service via their Internet Web site, www.lioninc.com. Originators are required to maintain independent contractual relationships with one or more of the credit information providers available to subscribers on the MORNETPlus Network.

Will Desktop Originator reside on the Internet?

Access to the LION Web site will be provided through the Internet. The LION Web site users will be connected to the MORNETPlus Network. This connection will provide a secure, reliable link to Desktop Originator for existing subscribers who choose to submit loans via the LION Web site.

How will originators access Desktop Originator via the LION Web site?

Any Desktop Originator subscriber will be able to access the Desktop Originator credit retrieval and loan submission services via the LION Web site either through www.lioninc.com or directly through www.lioninc.com/desktoporiginator. To do so, Desktop Originator subscribers must enter their MORNETPlus? Desktop Originator user ID and password.

How do a lender and originator sign-up for access to Desktop Originator through LION?

First, Fannie Mae lenders must sign-up for Desktop Originator through Fannie Mae and the originator must be sponsored for Desktop Originator through a lender. When logging onto LION for the first time and using the Desktop Originator services, a user will be prompted to register to use the LION site. Note that a no-cost registration will be provided to users who do not wish to subscribe to LION?s full suite of services.

How do originators and wholesale lenders become LION subscribers?

Originators and wholesale lenders that are interested in becoming LION subscribers should access the LION Web site at www.lioninc.com to access additional information on a LION subscription or to register online.

Do originators and wholesale lenders need to be LION subscribers to benefit from the new Desktop Originator integration?

No. Any Desktop Originator subscriber will be able to access the Desktop Originator credit retrieval and loan submission services via the LION Web site?s home page. All Desktop Originator lender subscribers will be able to receive loan submissions from their sponsored originators via the LION Web site.

Is there a charge associated with LION and Desktop Originator submissions?

Desktop Originator submissions via LION are available to all Desktop Originator originator subscribers. A LION-paid subscription is not necessary to access the submission services. There is no hourly MORNETPlus Network charge when submitting loans to Desktop Originator over the Internet via LION. Note that the standard Desktop Originator per-loan and monthly user subscription fees will continue to apply.

How does LION work with an originator?s loan origination system (LOS)?

The LION Desktop Originator interface is designed to work closely with the originator?s LOS. If the originator chooses to enter mortgage loan application data on the LION Web site, this data may be exported in Fannie Mae?s 1003 file format for subsequent import into the LOS. Conversely, if the originator chooses to enter mortgage loan application data in a compatible LOS, this data may be exported in Fannie Mae?s 1003 file format for import to the LION Web site. Because LION is not an LOS, integration with an originator?s LOS is important; the LION Web site does not facilitate loan processing or printing of required mortgage application forms and loan disclosures.

Does LION replace an originator?s LOS?

The interface to LION is similar to the interfaces available in other Desktop Originator embedded services (Byte, Calyx, Contour and Genesis), but is intended to complement these services. Users taking advantage of the Internet and the LION interface will still require an LOS to meet their loan processing requirements.

Will the LION interface provide originators with direct access to Desktop Underwriter loan recommendations?

No. Access to Desktop Underwriter loan recommendations is granted only to originators through Desktop Originator lender sponsorship. Desktop Originator loan submissions completed from the LION Web site are subject to the same lender-specific product selection, product eligibility and Gatekeeper edits as all other Desktop Originator loan submissions.

Do originators have to be sponsored by a lender to access Desktop Originator on the LION Web site?

Yes. This is not an additional sponsorship. If originators have existing Desktop Originator lender sponsorships, these lenders will be available to the originator via the LION site. In order to access the Desktop Originator embedded services on the LION Web site, originators must first be sponsored by at least one Desktop Originator lender as part of their MORNETPlus subscription process. Desktop Originator subscribers are only able to submit loans to lenders that have provided them with Desktop Originator sponsorship.

Will LION?s Desktop Originator interface and loan submission process be secure?

Yes. LION?s Desktop Originator interface has been constructed using Secure Sockets Layer(SSL) technology. This technology ensures that any mortgage loan application entered by a Desktop Originator user on the LION web site is secure. In addition, LION?s Internet web site will be physically connected to the MORNETPlus Network. This connection will provide a secure, reliable link to Desktop Originator for existing subscribers who choose to submit loans via the LION Web site.

How can I link to LION?s Web site from my company Web page?

Fannie Mae has provided linking guidelines that can be found on the Desktop Originator Center at www.lioninc.com/do/link.

Where can I find the most recent list of Desktop Originator sponsoring lenders?

This list can be found on the Desktop Originator Center Web site at www.lioninc.com/desktoporiginator.

Can I register for Desktop Originator training through the Desktop Originator Center?

Yes. You may register for training through the Desktop Originator Center Internet Web site at www.lioninc.com/desktoporiginator.

Can I direct consumers to use Desktop Originator on LION?

No. The Desktop Originator Center is intended to be used by Desktop Originator lenders and their sponsored originators only.

Who will support my questions or comments regarding Desktop Originator and the Desktop Originator Center?

Questions regarding Desktop Originator should be directed to the MORNETPlus Hotline at 1-800-758-7546. The Hotline is available Monday through Friday from 8:00 a.m. to 9:00 p.m. and Saturday from 10:00 a.m. to 6:00 p.m., Eastern Time, except for certain holidays. Questions regarding the Desktop Originator Center should be directed to LION at 1-800-786-8083.

How do I obtain more information about LION and Desktop Originator?

For more information about Desktop Originator on LION, please visit the Desktop Originator Center at www.lioninc.com/desktoporiginator, call LION at 1-800-786-8083, or visit their Web site at www.lioninc.com. For more information about being a sponsored originator for Desktop Originator, you can talk to your wholesale lender partners, call Fannie Mae's Desktop Originator Automated Information Line at 1-800-790-3662 for a copy of the most recent Desktop Originator Lender Sponsorship list or, visit the Desktop Originator Center at www.lioninc.com/desktoporiginator. More information about Fannie Mae can be found on the Internet at www.fanniemae.com.

Desktop Originator and Desktop Underwriter are registered trademarks of Fannie Mae.