Freddie Mac: Guide Bulletin 2021-18: Reimagine Servicing Updates

Freddie Mac: Guide Bulletin 2021-18: Reimagine Servicing Updates

Investor Update
May 19, 2021

Source: Freddie Mac

In today’s Single-Family Seller/Servicer Guide (Guide) Bulletin 2021-18, we’re introducing PAID (Payments Automated Intelligent and Dynamic), a reengineered expense reimbursement tool. PAID replaces Reimbursement System (VendorScape®) on September 27, 2021.PAID is part of Reimagine Servicing®, our initiative to improve the client experience by embracing and advancing digitization and technology solutions. Servicers (and their vendors) can submit and view expense statuses effectively and efficiently through intuitive navigation, automated workflows, flexible RPAs and more. Please review the Bulletin for important information related to this update including:

  • Entering reimbursement requests in PAID.
  • Blackout timeframes and other key dates to smoothly transition to PAID.
  • Access management for users transitioning to PAID.
  • PAID system license and automated clearing house (ACH) instructions.

The Bulletin also announces the retirement of Form 1128, Loss Mitigation Transmittal Worksheet, to settle agency loans. Servicers must submit agency loans through ResolveSM beginning August 2, 2021.

EFFECTIVE DATE

All of the changes announced in this Bulletin are effective immediately unless otherwise noted.

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