New Reporting Features in the Consent Request Tracker
May 26, 2015
On June 8, 2015, we will be rolling out an updated version of the Consent Request Tracker (CRT) which:
- Expedites performance assessment of all servicing parties
- Tracks consent request volume by types
- Reduces, and, in some cases, eliminates, the creation of manual reports
- Identifies trends and problem areas
- Helps Freddie Mac users track all monitoring activities on securitized consent requests
The metrics for all reports are based on the Freddie Mac Servicing Standard, which primarily focuses on improvements to the borrower experience. The latest version features two ‘push-button’ reports critical to successful data collection: the Borrower Experience Report and the Top 5 Consent Request Types Report, for all servicing parties.
As a reminder, we are striving to achieve 15 and 30 day turnaround times, so please make sure that you:
- Complete and thoroughly analyze all credit packages for each borrower consent request
- Update CRT in real-time, so that all servicing parties are able to update and view current/accurate information
- Fill in the “Date PS Notified Borrower of Decision,” since this date is required for consent requests with decisions to be included in the reports
The Borrower Experience Target Turnaround Time is the key metric for all servicing consent requests and is measured from the “Date Primary Servicer (PS) Deemed Package Complete” to “Date PS Notified Borrower of Decision.”
Please contact your Freddie Mac Asset Management representative or email firstname.lastname@example.org about any CRT questions.