ICS Nett played a key role supporting the Fannie Mae Reinstatement by designing, building, staffing, and managing the 24×7 Restatement Operation Center (ROC). After Fannie Mae’s agreement with OFHEO in September of 2004 and March of 2005, ICS Nett supported and managed multiple technical projects for Fannie Mae’s financials. These included restructuring accounting practices, capital levels and activities, re-org structuring with staffing, corporate governance, internal controls and compensation processes. The total outcome from the Reinstatement led to a positive future for home buyers and banks in the United States.
In order to regain status providing liquidity, stability, affordability and guarantees to thousands of banks, savings and loans, and mortgage companies in the United States, within a short period of time, ICS Nett took on reinstatement lifecycle activities for Fannie Mae. As subject matter experts, ICS Nett was requested to support designing, building, staffing, and managing their 24×7 Restatement Operation Center (ROC). This challenge would lead ICS Nett to create positive impact for all the U.S. home buyers and banks transactions.
ICS Nett services included:
ICS Nett supported all levels of development, testing, configurations, implementations, management, facilitation, and monitoring of all business work streams and ongoing evaluation processes during the Reinstatement lifecycle. ICS Nett set up and configured Remedy to not only work across all environments but it was used by all contractors. Tickets sent to Tier III were resolved by our SMEs who were able to replicate issues and define root causes using the product design, code and specifications. ICS Nett also handled all Tier IV level support tickets and was able to support outsourceable such supplies, printer, hardware, vendor software support and more.