Changes for Call-In Remittances Through Global Payments Inc
May 2, 2013
Effective July 1, 2013, Freddie Mac Multifamily will change the header information displayed on all Automated Clearing House (ACH) debits for Global Payments Inc., (GPI) call-in remittances from principal and interest custodial accounts. To give you enough time to prepare for this change, we have mailed a letter containing the new ABA number and company ID to your main administrator.
Your organization’s administrator will be responsible for determining if your organization or the depository institution has placed a debit filter on your principal and interest custodial drafting account for payments to Freddie Mac. A debit filter is a tool that allows only certain ACH transactions to debit an account. If there is a debit filter on your organization’s principal and interest custodial drafting account for payments to Freddie Mac, then your administrator will need to update the debit filter no later than June 28, 2013, to allow for debits from the new ABA number.
Failure to determine if a debit filter is in place and to update it correctly may result in your depository institution's rejection of principal and interest GPI call-in remittances to Freddie Mac, and could result in late cash fees.
On Tuesday, June 25, 2013, we will post a message in MultiSuite® for Investor Reporting (MSIR) reminding you of the new ABA number and Company ID. Please note that the company name (“Freddie Mac”) will remain unchanged.
If you have any questions, please contact 1-866-MultiFM (1-866-685-8436) or your Multifamily Loan Accounting Specialist.