Investor Reporting Enhancements Bring Automation, Efficiency to Servicers
February 2, 2015
This month, we are introducing two new web-based enhancements to support Servicers in delivering high quality, loan-level investor reporting data by automating certain reporting tasks. You can begin using these new enhancements for reporting in March.
In preparation, we’re providing you with an overview of each enhancement with key dates and details on upcoming training sessions.
We are adding new Reserve Reporting functionality to the Property Reporting System (PRS) that leverages existing bulk upload and data validation capabilities. Reserve Reporting will enable you to view your active Freddie Mac loans online and electronically upload escrow and loan terms data in bulk for portfolio and warehouse loans using an Excel® template.
Reserve Reporting will compare Servicer data to Multifamily Processing System data, display data discrepancies, and enable Servicers to correct errors and comment on discrepancies. With this enhancement, it is critical that you follow the data format and syntax requirements to avoid receiving critical error messages that can prevent or delay reporting. This is intended to bring efficiency to the process by eliminating the need for post-submission follow-up and rework.
Additionally, Reserve Reporting will enable aggregation of all data needed and generate reports for various parties and needs.
- February 5 – Reserve Reporting will be visible in PRS. You do not need to take any action at this time.
- February 24 – System administrators for PRS can begin provisioning users with access on this date.
- March 10 – Start of monthly sales data reporting cycle for March. Log in to Reserve Reporting to upload your report by March 12.
- April 3 – Quarterly Reserve Reporting begins. Use Reserve Reporting to submit your report by the April 15 deadline.
Bond Reporting Bulk Import
We are adding a Bond Reporting Bulk Import tool called Bond Import to MultiSuite® for Investor Reporting (MSIR) that will enable you to perform a bulk import of monthly bond data via an electronic file. Currently, the system only allows for cash loans data to be uploaded in bulk. This enhancement will make the reporting process more efficient for you, particularly if you have large bond portfolios. The option for manual entry of bond data will remain for those who choose to use it.
- March 2 – Bond Reporting Bulk Import will be accessible via our Investor Reporting page. Begin using the Bond Reporting Bulk Import tool for monthly bond reporting, due March 10.
Users of MSIR Bond Import and Reserve Reporting are strongly encouraged to attend one of the following webinars:
- Bond Reporting Bulk Import Webinar
March 3 at 1:00 p.m. ET
- Reserve Reporting Webinar
February 24 at 1:00 p.m. ET
March 5 at 1:00 p.m. ET
Webinar materials will also be posted on the Investor Reporting page following these sessions.
If you have questions about these enhancements, please contact Loan Accounting at firstname.lastname@example.org.