| Multifamily Developments |
Data Delivery Deadline Just Ahead and Important Milestone Reached
We're pleased to have achieved an important milestone. Thanks to many of you, more than 1,000 transactions have now been submitted through the Freddie Mac Data Delivery system and the Freddie Mac loan submission template. Adopters are seeing the benefits (See the article "More Proof of the Benefits of Adopting Data Delivery").
We want to remind those of you who aren't using the system yet or have not fully implemented it that the July 1 deadline for mandatory implementation is fast approaching. Beginning on that date, we will no longer accept preliminary loan packages that aren't submitted through Data Delivery via the loan submission template (unless your company received a waiver).
We are continuing our work to improve the template and expect to be releasing a new improved version. In particular, improvements are being made to correct problems associated with submitting fixed-to-float and third supplemental mortgages. Until these fixes are in place, please work with your Freddie Mac representative on fixed-to-float submissions, and for third supplemental mortgages, e-mail the template directly to your contact rather then submitting via Data Delivery. Please continue to give us feedback on how we can make the system better, and thank you for taking the necessary steps to implement the Data Delivery system.
Here is a recap of resources to help you with Data Delivery:
- A dedicated customer implementation manager, Gina Celli-Marlow, is available to answer any questions you may have about implementing the system. You can reach Gina at gina_celli-marlow@freddiemac.com or by calling her at (703) 903-4019.
- A two-part recorded webinar available on the MultiSuite® Training and Events Web page, located at https://multifamily.freddiemac.com/multisuite/training/main_training.html. Training for using the Loan Submission Template can be found there as well.
- A detailed user manual for the system, and a Data Dictionary for the Freddie Mac loan submission template, available from the MultiSuite Information section, located at https://multifamily.freddiemac.com/multisuite/tools/main_msoti_info.html
- Answers to your frequently asked questions at https://multifamily.freddiemac.com/multisuite/tools/main_msoti_info.html
Also, if you experience any problems with completing the loan submission template or your data delivery upload, you can call our toll-free number, (800) FREDDIE (373-3343), from 8 a.m. until 6 p.m. EST. The shortcut through the menu options is as follows:
- You will be asked if you have your Seller/Servicer number. Press 1 and enter your Seller/Servicer number.
- Next, the prompt will ask, "Please tell me how we can assist you. Please say the word or phrase of the topic in which you need assistance, or press # for menu of choices."
- If you say "Multifamily" or press 7 for Multifamily, you will be routed to the next available technical support representative.
In This Issue...
What's New
- New Freddie Mac Student Housing MortgageSM product launches July 1
- New York City Pilot launches for authorized Seller/Servicers
- Look for enhancements to Freddie Mac ARM products coming soon
- Seniors housing team lead reaffirms Multifamly commitment
- Third "Expect More" ad to make its debut
Important Reminders
- July 1 mandatory implementation deadline for Freddie Mac Data Delivery
- Data Delivery system adopter cites benefits of system
