Bank of New York Mellon, New York, is the new document custodian for mortgage loans that Fannie Mae holds in its portfolio. Until now, Fannie Mae had acted as its own document custodian. In addition, The Bank of New York Mellon will provide certification services beginning in May 2009. Fannie Mae's existing inventory of loan documents will be transitioned by October 2009 and those documents will be held at centers located in California and Texas. Scott Posner, chief executive of The Bank of New York Mellon's Global Corporate Trust business, said, "As the leading corporate trust provider in the world, we have the facilities, expertise and technology to handle the document custody needs of Fannie Mae's lender community."
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