Freddie Mac: An Evolving Experience in Servicing Gateway

Freddie Mac: An Evolving Experience in Servicing Gateway

Investor Update
May 18, 2020

Source: Freddie Mac

The launch of Freddie Mac’s Servicing Gateway nearly six months ago transformed the way you access your servicing tools. We’re committed to helping you work faster and smarter through every stage of the servicing process.

Effective May 25, 2020, in response to Servicer feedback, we’ll implement the below updates to the Loan Level Reporting (LLR) and Cash Manager tools that will enhance the way you access certain reports and feature more information within them.

Report Automation

Beginning with the May cycle, the LLR Monthly Account Statement (MAS) Loan Level Detail report will be automated and available in LLR on business day 2 (BD2), June 2, 2020 (May cycle). Previously you received this critical monthly report via email. With this change you’ll also have access to your monthly loan-level details in Excel® or CSV format directly within LLR.

Work Faster with More Details

The “Seller/Servicer Loan Number” will be added to the Cash Manager draft detail reports so you have the right information at your fingertips. The Servicer Number will also be present in the header of the draft detail reports. The following reports will feature this information:

  • Draft Detailed Report – Prior Cycle P&I Draft
  • Draft Detailed Report – Principal Only Draft
  • Draft Detailed Report – Liquidation Draft
  • Draft Detailed Report – Adjustment Draft (Servicer Number only)
  • Draft Detailed Report – Total
  • Draft Detailed Report – Monthly Total (see below)

In Cash Manager you’ll see a new draft report, “Draft Detailed Report – Monthly Total,” which will allow you to retrieve a monthly view of your data in an easy-to-use CSV format. Starting May 26, access this new report by clicking on the total draft amount for the given month on the Draft Summary report screen.

You continue to be the driving force behind our Reimagine Servicing® initiatives – we’re listening to Servicer feedback all the time. We continue to make enhancements to our tools to equip you with dependable technology. Stay tuned as additional enhancements will be available in Servicing Gateway later this year including the addition of eBill and more.