Introducing Assessment Completion Best Practices
February 15, 2013
The first deadlines for the 2013 Freddie Mac Multifamily Annual Inspection Form (AIF), Loan Management Form (LMF) and Annual Income and Expense Assessments (AIE) submissions are fast approaching. To help you prepare for the March 31, 2013, due date, we want to make sure you’re aware of new assessment best practice resources, full submission schedule and all recent upgrades in the Property Reporting System (PRS).
Assessment Completion Best Practices
The Surveillance team has been reviewing assessments in the new PRS formats for the past year. They compiled their observations of common errors into a new document titled Assessment Completion Best Practices.
The Assessment Completion Best Practices document is posted in the Asset Management Resource Center section of our website. This seven-page document is a supplement for the PRS Template desk references. In addition to providing some general reminders, it highlights common data discrepancies and questions in submissions. It also reminds preparers of the following useful information to include in assessment submissions:
- Updates on the resubmission process and changes in general loan information
- Reminders for AIF submission requirements
- Form reminders for AIFs, LMFs and AIEs/QIEs
Assessment Completion Best Practices Webinar
In conjunction with the Assessment Completion Best Practices document, we’ve scheduled a training session before the March 31 due date. Please be sure and register for the webinar below or visit the Events page of our website before March 5, 2013. Attendance is recommended for anyone responsible for completing assessments.
|Date||Time||Webinar Registration||Call Details|
|Tuesday, March 05, 2013||2:00 – 3:00 p.m. ET||Assessment Completion Best Practices Registration||
Conference Bridge - (800) 619-7480.
Updated PRS Resources
We want to ensure the integrity of loan level data and have updated the following PRS Resources located on the Asset Management page of our website:
- PRS Annual Inspection (AIF) & Loan Management Form (LMF) Desk Reference
- PRS Annual Income & Expense (AIE) Desk Reference
- PRS Annual Income & Expense (AIE) Bulk Template Desk Reference
Earlier this month, our webinar focused on new PRS features and the latest updates to the Annual Inspection AIE and the AIF templates. You can download the training materials from the PRS Resources section.
We hope that you are finding the Asset Management Reporting Calendar useful. The calendar details the following waiver reminders due on March 15, 2013:
- LMF/ AIF Due Date Change & Waiver Request Reminder
- AIE Waiver Request Reminder
If you have any questions about templates or other PRS issues, please submit comments to the Multifamily Asset Performance mailbox with PRS Question in the subject line.