The Latest Version of the Consent Request Tracker (CRT) is Now Available
November 18, 2013
Today we have launched a new version of the Freddie Mac Multifamily Consent Request Tracker (CRT). Since its launch in November 2012, the CRT tool has helped Freddie Mac Multifamily and our Servicing partners ensure the quality of our borrowers’ experience and apply consistent servicing standards throughout the life of the loan.
Today’s launch introduces additional capabilities for Servicers by providing new features to improve users’ experience with the tool. An overview of these new capabilities is provided below. We strongly encourage all Servicers to register and attend the related training scheduled for Tuesday, November 19 at 2:00 p.m. ET. Training will include an in-depth overview of the new capabilities, followed by a review of the tips and best practices for using the tool.
New Servicer Reports
The following new Servicer Reports have been added to CRT:
- Active Pipeline Report
- Closing Pipeline Report
The Active and Closing Pipelines reports are management reports that provide detailed information about each transaction through its life cycle. They can be edited utilizing the Interactive reporting functionality within CRT.
- Performance Report
The Performance Report allows you to view turnaround times by servicer role (if user organization has a role in the request) and also view information for a specific time period. Additionally, you can view decision turnaround times by transaction type.
All of the new reports allow you to select one or more execution paths, drill down to one or more specific servicer roles within transactions and view or print the report. You will also be able to export the report to Microsoft Excel.
Additional Process Improvements From This CRT Release
- CRT will now enable Master and Special Servicers to view the Primary Servicer screen on supplemental mortgage requests on securitized loans with which the Master and Special Servicers are associated.
- Master and Special Servicers will find the loans on their pipeline as they would any other transaction to which they are a party.
- K-deals without subordination will now follow the same CME securitized execution path in CRT.
Reminder of CRT Best Practices
Timely, accurate and informative data in CRT is critical to the success of the tool
- When data is incomplete, requests are unable to progress through CRT and reports are compromised.
- When data is inaccurate, metrics are unreliable and other parties cannot manage their workloads effectively.
- When comments are not provided, it is not possible for others to understand issues related to particular requests.
Future updates to CRT will streamline data entry and strengthen controls but the quality of your data entry will always be crucial.