Amazon Web Services (AWS), an Amazon.com, announced that Fannie Mae, a source of financing for mortgages in the U.S., is using AWS.
Fannie Mae uses AWS capabilities, including machine learning, analytics, and high performance and serverless computing to automate processes, enhance IT security, and innovate new services.
Fannie Mae is migrating IT workloads from on-premises data centers to AWS to increase IT agility and resiliency, and accelerate the introduction of new services for lenders and homeowners. By moving internal systems and customer-facing workloads to the cloud, Fannie Mae has the flexibility to quickly respond to external challenges.
Fannie Mae was able to deploy its forbearance program into production faster using AWS, initiating 1.4 million single-family forbearance plans since March 2020. With Amazon Kinesis (AWS’s platform for streaming data) and Amazon Aurora (AWS’s relational database built for the cloud) Fannie Mae can ingest, process, and analyze a greater volume of data faster to accelerate the introduction of new services and scale to meet the unprecedented increase in borrower demand.
Fannie Mae uses AWS analytics services to process structured and unstructured data, including Amazon EMR (AWS’s cloud big data service for processing of data using open-source tools), to deliver insights from data and take steps to responsibly expand access to mortgage credit.
Fannie Mae also built its enterprise data lake on Amazon Simple Storage Service (Amazon S3) to support more than 3,000 datasets and 100 applications, achieving faster time to market with innovative automated products.
Using Amazon Redshift (AWS’s cloud data warehouse), Fannie Mae can quickly analyze external data from a variety of sources to understand key housing market indicators and trends, and scale insights across its operations.