New Insurance Compliance Tool (ICT) Launches
January 17, 2012
Freddie Mac launched its new Insurance Compliance Tool (ICT) today, January 17, 2012, requiring all Seller/Servicers and their vendors to now submit Multifamily Form 1133 or insurance waiver requests and annual certification of replacement costs online.
The ICT is a new web-based system that provides Seller/Servicers, their vendors and Freddie Mac staff with a more efficient approach to submitting and tracking insurance and waiver data, replacing the current paper-based process.
Its primary benefits to you are that it will automate and expedite:
- Submittal and tracking of Form 1133 for underwriting
- Submittal of Form 1133 for delivery
- The annual recertification process
- The annual waiver request process (if waiver is necessary)
Your MultiSuite Systems Administrator has identified and authorized all your company and vendor employees who will require access to the ICT. All designated new users have participated in one of two training sessions and received an email from @cmservicing.com providing them with their new ID and password to access the tool.
Electronic submissions allow you to operate in a more cost-effective manner and deliver loan data to us more quickly. We believe this next phase for using the ICT will enable us to work together more efficiently. We'll continue to look for opportunities to work with you on other cost saving and efficiency methods going forward.
Support for the ICT
If you encounter technical problems with the system, you can contact 1-888-476-0266 Ext. 34008 or email 1133-TechHelp.firstname.lastname@example.org. If you have questions on a waiver request or other business process issues, you can email MF_InsuranceCompliance@freddiemac.com.