Frequently Asked Questions and Online Training Webinar Now Available for Insurance Compliance Tool (ICT)
February 6, 2012
In support of the recent launch of Freddie Mac's Insurance Compliance Tool (ICT), the ICT Frequently Asked Questions and ICT Online Training Webinar are now available to ensure that Seller/Servicers are using and complying with the requirements of the ICT.
Freddie Mac has required you and your vendors to submit Multifamily Form 1133, insurance waiver requests and annual certification of replacement costs online since January 17, 2012, replacing the previous paper-based process.
Your MultiSuite Systems Administrator should have identified and authorized all your company and vendor employees who require access to the ICT, and your new users should have participated in one of two training sessions providing them with access to the tool. The ICT Frequently Asked Questions and ICT Online Training Webinar are available in case you now have user/compliance questions or additional employees who require training and access. The ICT Job Aid is also available for your reference.
The ICT is a new web-based system that provides Seller/Servicers, their vendors and Freddie Mac staff with a more efficient approach to completing and tracking insurance and waiver data.
Its primary benefits to you are that it will automate and expedite:
- Completing and tracking Form 1133 for underwriting
- Completing Form 1133 for delivery
- The annual certification process
- The annual waiver request process (if waiver is necessary)
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.