Mortgage Accounting and Reporting System (MARS) Launching in 2013
September 27, 2012
Freddie Mac is well under way in developing and testing our Mortgage Accounting and Reporting System (MARS), which will replace MultiSuite for Investor Reporting (MSIR) in 2013 for reporting and remitting payments.
We’ve developed MARS as a part of our focus on improving our service delivery and infrastructure. MARS is a more efficient, customized application than MSIR that leverages industry standard software. This implementation will exclusively support cash-only loans. The primary benefits to Seller/Servicers in its first phase will be that it:
- Offers the ability to now submit prepayment requests
- Simplifies the (RLOC) reporting process
- Enhances quality control measures by validating data prior to submission
At launch in 2013, MARS will provide Seller/Servicers with the ability to track and report all loan activity for cash-only loans, including Revolving Line of Credit (RLOC) activity, prepayment information, delinquencies and payment reversals.
See a Demo at the 2012 Seller/Servicer Conference in the Tech Expo on October 4 and 5
We are working side-by-side with Seller/Servicers to ensure you will receive timely communication and proper training prior to transitioning to MARS. As part of that preparation, we want to invite attendees of our October 4 and 5 conference at the National Harbor in Maryland to come see a demo of MARS during our Tech Expo hours. Freddie Mac staff will be available on Thursday, October 4 from 11 a.m. – 1 p.m. and 3:30 p.m. – 5 p.m., as well as on Friday, October 5 from 7:30 a.m. – 8:30 a.m. and 9:30 a.m. – 11 a.m. to conduct demos and answer your questions. For more information, see our Conference and Tech Expo agenda.
After the system launches in 2013, Seller/Servicers will access MARS on the Investor Reporting page of the website, through the same secure login procedure they currently use to access MSIR. We will be providing further information and training registration later this year.