In This Edition

Featured Story of the Month
Your Future Servicing Tools 
We’ve come a long way from when we first launched Reimagine Servicing®. With several initiatives under our belt, we’re moving into 2021 strong and prepared to roll out two highly anticipated technology solutions: PAID (Payments Automated Intelligent and Dynamic) and our new loss mitigation tool, ResolveSM. These state-of-the-art solutions will transform the way you do business. Work faster, work smarter, with us. 
News and Insights
Continuing to Support you During COVID-19 

We continue to update our COVID-19 Resources page regularly with key information to help you navigate the pandemic. In addition, bookmark the HousingWire Forbearance page to read helpful FAQs and the latest news articles by Freddie Mac executives.

Payment Deferral UPB Calculations

There has been an increase in “700” edits as a result of the UPB being miscalculated on Payment Deferrals. Be sure to review your LLR reports and Loan Modification status reports. Get familiar with the Reference Guide which explains how to determine the terms of a COVID-19 Payment Deferral, calculation examples and using Workout Prospector®

Guided Steps to Loss Mitigation Options

Is the borrower experiencing a hardship? Is the hardship long or short term? Which workout suits their circumstance? Instant answers to these questions are just a few clicks away. Learn the requirements, training and additional information for each result to determine the best outcome for your borrower. Get started.

Tools and Technology
B2B Integration is Here for Resolve:
Three Reasons to Get on Board  

Resolve is our first servicing tool to feature application programming interfaces (APIs), for access to the data you need, when you want it – for fast, efficient decisions. A few reasons why you should explore B2B integration via APIs:
  1. Our developer portal makes it easy to build and test APIs all in one place.
  2. You can request access to integrate with the Resolve Retention API today, for speed-to-market decisioning on Freddie Mac Flex Modifications®.
  3. APIs improve transparency into decisioning, eliminate duplicative data entry and speed up your workflow for mortgage resolution.
Resolve is just the first of many APIs to come in servicing – become a pioneer in servicing innovation.  
More Tools Move to Single Sign-On       

As of October 26, you can access Electronic Billing (eBill) and BPODirect® via single sign-on in Servicing Gateway, allowing you to get to what you need, faster. In addition, access to these tools can also be managed through Access Manager.

Incentives Move to eBill
Did you know that Servicer incentives are now processed daily? This shift reduces the cycle time over 30 days. Access eBill today. 
Browse the Guide in LLR

We recently integrated the Single-Family Seller/Servicer Guide within Servicing Gateway, making it easier and faster to get to what you need. On November 23, we’re adding the Guide icon to each screen in Loan Level Reporting (LLR) to provide context-sensitive Guide information. 
Get Prepared for PAID  

By mid-2021, we’re replacing the Reimbursement System with a new tool called PAID (Payments Automated Intelligent and Dynamic). It will provide fast decisions, flexible submissions, bulk upload, an intelligent workflow and more. Get familiar for PAID on the web page – watch the video, demo and read FAQs.
Loan Coverage Advisor® Has You Covered 

Loan Coverage Advisor calculates and tracks rep and warranty relief data for all loans sold to Freddie Mac. You can use this tool to:
  • Perform bulk searches.
  • Retrieve certain details like credit enhancements.
  • View our Obligation Reconciliation report to see transfers in and out of your portfolio.
Vist our web page for more information and resources, or to get access. Use our Loan Advisor® portal to navigate the tool. 

Thought Leadership
2020 Forbes Insights Report
Turning Crisis into Opportunity 

Download the report for insights into how the mortgage industry is accelerating the pursuit of the digital mortgages. Download the report.
The Three Cs of Post-Forbearance 

As part of our mission for #HelpStartsHere, we’re addressing a looming question asked by so many homeowners today: “what happens when my forbearance plan ends?” The answer is to communicate with the homeowner, consider their options and confirm the decision. Read more.

Successful Responses to the Pandemic

Unprecedented times have forced innovation. In fact, for some Servicers and technology providers, the pandemic has been a catalyst for advancement. Suddenly, it wasn’t a question of when these companies would digitize, but rather, how soon? Read the article.
Learning and Events

CONNECT Sessions on Demand

Virtual FreddieMacCONNECT welcomed thousands for networking, inspiration and education. The solutions, best practices, market trends and clarity you need to be successful in these unprecedented times are now on demand. #HelpStartsHere at Freddie Mac.  
Watch Now: National Mortgage News Webinar

We recently teamed with National Mortgage News and other industry leaders to facilitate a webinar on what’s being done to transform key processes in the servicing lifecycle and advance sustainable homeownership. Watch the recording. 

Additional Training Opportunities

Industry and Policy Updates
Payment Deferral Evaluations: January 1

Freddie Mac’s Payment Deferral solutions can help your homeowners get on track and remain in their home after experiencing a hardship. As a reminder, evaluations for standard Payment Deferrals begin January 1, 2021. This solution is supplementary to the COVID-19 and Disaster Payment Deferral solutions. Read the key differences between the three programs and more.

Recent Guide Updates
Guide Bulletin 2020-39: Updates to Electronic Payment Deferral Agreements, Transfers, escrow and disaster requirements and more
Guide Bulletin 2020-34: Announces an extension of the COVID-19 foreclosure moratorium and updates to disaster forbearance
Guide Bulletin 2020-33: Updates to annual certification and reporting using the new UCountSM, plus eMortgage updates
Guide Bulletin 2020-29: Eligible disasters, credit reporting and other servicing guidance related to COVID-19
Questions? Contact your Freddie Mac representative, Servicer relationship manager, or 800-FREDDIE.

Since you've made it this far, remember to bookmark: