Welcome to the New Consent Request Tracker Tool
August 11, 2014
We want to welcome you to the latest version of the Consent Request Tracker (CRT) tool before you log in today. This CRT release includes enhancements that streamline the borrower consent request process and allows all Servicers to deliver on the principles behind the Freddie Mac Servicing Standard of exceptional customer service to the borrower throughout the life of the loan.
The first time you log in, you will be prompted to enter your phone number in a new field. You will also have the opportunity to verify and update your email address. These two items are critical to the new email notification features, which will allow you to communicate with individual servicers and your servicing partners.
Minimum Browser Requirements
The data rules enhancements, which will populate and autofill certain fields as you enter information in real time, will not be supported by Internet Explorer 7. We recommend that you upgrade to Internet Explorer 8 or higher before you log in.
The flow of a consent request is a sequential process and the new data rules will ensure that dates reflect the movement of a request from one party to the next. For example, one party cannot enter an approval date on a request that is after the date the next party in the review process receives the package. As a result of today’s enhancements, CRT will reject out-of-sequence dates for all new consent requests. You will now receive error messages that will prompt you to enter valid dates before you can save the consent request.
If key dates for existing, open requests are out of sequence or missing entirely, CRT will now require you to correct them before allowing you to update the record. That is why you may notice validation error messages on some requests when you log in today. You will need to provide this information before continuing.
The goal is to improve data integrity by implementing automated data validations. We are eliminating keystrokes while linking dates with statuses. In most cases, statuses will auto-populate when you save dates.
By prohibiting future dates and unlikely past dates, as well as requiring completion of certain key dates, we are eliminating extra handoffs and data clean-up projects to complete or correct data. The streamlining also includes the elimination of certain statuses and fields and allows for more concentration on tracking incomplete submissions and closing deliverables.
There are some new fields and statuses that will help you thoughtfully capture required information with as little data entry as possible.
- Secondary Contact – After creating a new request, you now have the ability to add two contacts. The first contact is required and the second is optional.
- Status of Package Submission Button – You will select either incomplete or complete after your initial review of a request.
- Outstanding Items List – If you select incomplete for a package submission, a list of all the incomplete items will be generated for you to easily select.
- Date Primary Servicer (PS) Notification of Package Completeness Status – You will complete this date to track your package completeness response, which is due to the submitting party within two business days of your receipt of a package.
- Decision Type – A convenient pick list for you to select either denied or approved. If you choose denied, you will receive a comments box. You also have the option to cancel a request at this point.
- All Documents Delivered – The PS will confirm that all of the deliverables from an approval letter have been provided.
Automatic Email Generation
To assist you with the flow of information downstream and upstream, CRT will automatically generate two new emails.
- Master Servicer (MS) reminder – If “Date of PS Decision” is seven days old and there has been no activity by the MS in CRT, a reminder email will be generated and sent to the MS.
- Notice to Freddie Mac (FM) – Generated to notify FM that the servicer has delivered all items required in the approval letter and checked the “All Documents Delivered” checkbox, facilitating Freddie Mac’s timely document review and record close-out.
There are new resources available inside many of the CRT screens, which are easily accessible with a click of the red, help icon. Examples include:
- Date Triggers – This illustrates which dates automatically trigger status changes.
- Request Categories/Types – This resource groups request types within their relevant categories and is handy when you are unsure how to classify a request.
- Most Common Sticking Points – This document provides guidance for common problem areas within CRT.
CRT Enhancement Webinar
If you did not have a chance to attend last week’s training, be sure to make plans to attend the second session on August 19.
Please contact your Freddie Mac Asset Management representative with any CRT questions.