Related posts. Fannie Mae has released revised multifamily loan documents that are now required for the majority of new commitments and for qualifying forward conversions. The updates standardize and modernize core templates, clarifying the allocation of representations, warranties, covenants and delivery conditions among lenders, servicers and borrowers. Though framed as documentation changes rather than wholesale underwriting policy shifts, the revisions affect closing mechanics and form exhibits, and therefore require legal review and updated transaction playbooks. Fannie Mae has outlined transitional parameters and limited carve-outs for deals already underway, but market participants originating new business must adopt the new templates and align internal controls, counsel guidance and checklist protocols to ensure compliance. The practical impact will be operational and legal: originators, servicers and counsel must update loan production systems, commitment packages and closing checklists, while secondary-market teams should revalidate investor eligibility tied to the new documentation. Borrowers may see adjusted closing timelines and more detailed pre-closing deliverable requirements, and forward-to-delivery conversions will follow the revised conversion mechanics. Risk and underwriting teams should reassess representations-and-warranties exposure and re-test compliance procedures. To minimize settlement friction, stakeholders are advised to prioritize document review, conduct targeted staff training, coordinate with Fannie Mae contacts and sequence systems and process changes in advance of new production. - Mandatory adoption for most new commitments and qualifying forward conversions: Lenders must use the updated templates for new production and certain forward deals. - Scope of revisions: Changes affect standard forms, exhibits, representations, warranties, covenants and conditions precedent. - Transitional provisions and exceptions: Limited relief exists for in-flight transactions, but new commitments are expected to follow the revised documents. - Operational impact: Loan production systems, checklists, counsel templates and closing workflows need updating to reflect the new language. - Borrower and closing effects: Potential for revised pre-closing deliverables, altered timelines and greater due diligence demands. - Secondary-market and investor considerations: Investor eligibility and delivery requirements tied to Fannie Mae commitments should be revalidated. - Recommended actions: Conduct legal reviews, update policies and templates, provide staff training, and coordinate with Fannie Mae to smooth implementation. 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Sagent promotes Sridhar Sharma to CEO, Andrew Bon Salle to chairman. Sharma, who served as Sagent's president, replaces Chris Marshall September 21, 2026, 8:32am by Sarah Wolak Article Summary. Mortgage technology firm Sagent promoted Sridhar Sharma from president to CEO and named former Fannie Mae executive Andrew Bon Salle as board chairman. The announcement comes as Sagent expands deployment of Dara, its AI-powered mortgage servicing platform. AI Summary Sagent announced on Monday the promotion of Sridhar Sharma to chief executive officer and appointed former Fannie Mae executive Andrew Bon Salle as chairman of its board of directors. The leadership changes come as the mortgage technology company expands the deployment of Dara, its artificial intelligence-powered mortgage servicing platform. Sharma, who formerly served as Sagent's president, takes the CEO role just nine months after Sagent hired Chris Marshall for the same role. Under Marshall's leadership, the company "transformed its vision for mortgage servicing modernization into Dara," per Sagent's press release. Sharma previously served as Sagent's president and has been involved in developing the company's servicing technology strategy. Before joining Sagent, he spent about a decade at Mr. Cooper, where he held leadership roles focused on product, technology and artificial intelligence. During his tenure at Mr. Cooper, Sharma worked on artificial intelligence and machine learning platforms used in mortgage servicing. As CEO, he will oversee Sagent's Dara implementations and efforts to expand adoption of the platform among mortgage servicers. "Mortgage servicing is entering an era where processes evolve in real time and human capital is focused only on the most complex issues and in delivering amazing customer experience," Sharma said. Sharma said DaraIQ, the platform's underlying artificial intelligence engine, is designed to help servicers automate workflows while maintaining compliance. Bon Salle joins Sagent's board after nearly three decades at Fannie Mae, where he held several senior leadership positions. His experience includes housing finance, mortgage servicing, capital markets and technology, most recently serving as board director for Mr. Cooper in 2025. "Dara is truly differentiated in the market," Bon Salle said. "It is designed to meet servicers wherever they are on their AI transformation journey, giving them the flexibility to balance human expertise and AI-driven automation in the way that best fits their business." According to a company statement, "The board appreciates Chris's leadership and vision over the past few years leading Sagent. Sridhar's promotion to the CEO role was a planned transition since Chris hired Sridhar earlier this year. He remains close to the company and advocates for its success while he evaluates what's next in the financial services industry."