Tools and Incentives for Small- to Mid-Sized Servicers
We provide you with the technology and educational tools you need to service
our mortgages effectively and profitably. And when you service our mortgages
in a way that meets or exceeds our guidelines, you'll receive incentives for
your performance.
Key Features
- Online and web-based technology tools for investor accounting and reporting and default management
- Educational support
- Constructive quantitative feedback on your performance
- Incentives for superior performance
- Support from our specialists
Technology Tools
Our servicing technology tools can help you streamline operations, retain customers,
and improve your cash flow, data management, and workout rates. Our broad array
of robust software and web-based applications address both investor accounting
and reporting and default management.
- Investor Accounting ManagerSM expands your ability to reduce
investor accounting and reporting errors, synchronize data files with ours,
and monitor your cash position. With Investor Accounting Manager, you can access
and download our loan data, receive reports online, create your own tailored
reports, remit funds online, and obtain daily cash data.
- Default Reporting ManagerSM helps you manage your delinquent
portfolio by letting you view, analyze and download EDR reports from your desktop.
Monitor, validate and update your foreclosure sale reporting processes, with
feedback on how to correct errors. Updated daily, these reports contain the
most detailed information available.
- EarlyIndicator® is the industry's premiere default scoring tool
for prioritizing delinquencies and focusing resources where they are needed
most. EarlyIndicator can help you reduce credit losses, improve the efficiency
of delinquency management operations, and help borrowers avoid foreclosure.
Servicers who use EarlyIndicator also tell us it has helped them reduce their
total operating expenses.
- Workout Prospector® enables you to analyze and deliver workouts,
receive automatic property valuations, receive reports, and access specific
loan information from our database.
- Workout Manager® helps you spot instances where a workout has
been unduly delayed and where your workout specialist might need more guidance
to complete a workout arrangement. You can receive and view data daily, so you
will have the most complete and up-to-date information at your fingertips – the
same data files that we view. You can spot problems sooner and increase the
probability of successful completion of a workout.
- Timeline ManagerSM offers you a comprehensive and unique delinquency
and foreclosure timeline management tool. You'll receive a distinctive "aging"
report that highlights mortgages exceeding our time line standards. This invaluable
report contains loan-level detail on each mortgage past or approaching our time
standards for each stage of the delinquent loan management process.
- Expense ManagerSM simplifies the process of accessing expense
data and answering questions about reimbursement requests. It provides you with
daily electronic status reports and other detailed information about your Freddie
Mac default management and reimbursement requests.
- REO ManagerSM gives you valuable information, in summary and
in detail, about the status of your REO portfolio and about specific REO properties.
You'll also find that REO Manager has data about mortgage insurance claims that
are due and those that are past due.
- Mortgage Document ManagerSM offers you easy access to document
custody policies, procedures, and forms. Located online at www.freddiemac.com/cim/,
it's also a convenient way to interact with us.
- Incentive ManagerSM conveniently tracks your workout and foreclosure
timeline incentive payments as they are earned or accrue over a calendar year.
Educational Tools
We know that the key to effective servicing is having knowledgeable and skilled
staff. Our comprehensive educational programs and materials cover a wide array
of key topics. You'll find our educational support in the form of instructor-led
workshops, computer-based training, and online and print materials.
Feedback
Our Servicer Performance Profile is a report that details how well your
performance meets our servicing guidelines. By proactively using the feedback
in your profile, you can improve your performance and concentrate your resources
on areas needing increased focus. Your Servicer Performance Profile also allows
you to view and download loan-level data. We are alone in our industry in offering
you this type of intensive performance data.
Incentives
High-performing Servicers with small, seriously delinquent portfolios have
the opportunity to achieve Tier One Gold – an accolade designed for small-
and mid-sized community-based Servicers who achieve Tier One scores on their
Servicer Performance Profile. Tier One Gold recognition includes non-cash waivers
to be used toward Freddie Mac training and events, performance bonus payouts
up to $1,000, and more. Servicers with larger portfolios may qualify for our Tier One Platinum award. And, meet the criteria for Tier One Gold,
Tier One Platinum, or any combination of the two for four consecutive years
with no material foreclosure timeline penalties and you will be included in
our prestigious Hall of Fame, earning additional incentives.
Our Workout Incentive Program compensates you for superior workout performance.
We pay you for eligible workouts, including loan modifications and repayment
plans that result in a complete loan reinstatement or full mortgage payoff.
Support
Our knowledgeable specialists are ready to help you and will give you
premier assistance with your servicing-related questions. And, our staff at (800) FREDDIE is standing by to answer any of your other business
questions.
We also support your efforts to educate borrowers about preventing
foreclosure. Our "Buying and Owning a Home" pages on FreddieMac.com offer
comprehensive information, in English and Spanish, to help defaulted borrowers
understand the options that may be available to them.
For More Information
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