Preview Your 2013 Servicer Success Scorecard
December 10, 2012
When you log in to your Freddie Mac Servicer Success Scorecard through the Servicer Performance Profile website, you can now access a preview of your 2013 Scorecard. The informational-only preview compares your October servicing performance against the new criteria that will be effective with your January 2013 servicing performance. This preview provides you with important information regarding how your servicing performance will be measured beginning in 2013.
Your preview 2013 Scorecard includes:
- Twenty-two performance criteria for Investor Reporting and Default Management, each calculated using a rolling three-month evaluation period and contributing a certain percentage to your overall performance ranking. The new criteria were announced on October 3, 2012, in Single-Family Seller/Servicer Guide (Guide) Bulletin 2012-20.
- An Alternatives to Foreclosure section, which includes performance data for loan modifications, short sales/deeds-in-lieu, and repayment plans on a year-to-date basis.
- A Servicer Success File Review Monitoring section, which will contain performance results if you have completed a Prudent Servicing Review, Short Sale Compliance Review, or Loan Modification Compliance Review.
This is an informational-only preview version of one section of your future Scorecard and the Performance Profile website. You will be notified when additional sections and functionality, including criteria detail and loan-level detail, are added to your preview.
As a reminder, the new performance criteria you see in your preview will be used to measure your performance beginning January 1, 2013, and you will see your January 2013 performance results in your Scorecard beginning March 7, 2013.
Minimum System Requirements
You will need to use Windows® Internet Explorer® 9.0 at a minimum to view your new Scorecard. For best results, enable your browser’s compatibility view, set zoom to 100 percent, and set text size to medium.
Exclusions to Default Time Line Management Criteria
In a previous communication, we provided information regarding which loans will be excluded from 2013 default time line management performance criteria; however, we are amending this information. The performance criteria Loans Beyond Foreclosure Sale Threshold and Average Age of Past Foreclosure Sale Standard measure three distinct populations of mortgages:
- Loans 180 or more days delinquent or foreclosed
- Short sales and deeds-in-lieu
We will exclude mortgages in the following process sub-statuses from the performance measurement of loans 180 or more days delinquent or foreclosed:
- Military indulgence
- Agency delay
- Foreclosure sale (third party, HUD conveyance, recourse, REO pending)
- Open REO
- Settled REO
- Internal delay
In the other populations (i.e., mortgages resulting in a short sale, deed-in-lieu, or REO) of mortgages with these process sub-statuses will be included in the Loans Beyond Foreclosure Sale Threshold and Average Age of Past Foreclosure Sale Standard performance criteria. Mortgages reported with allowable foreclosure time line delays will also be included in all of the populations of mortgages measured under these criteria.
To help you understand and navigate the updates to your Scorecard, we’ve added a new chapter to the Revised Servicer Success Scorecard Criteria Reference Guide that explains how to access and preview your Scorecard. You can find a link for the Revised Servicer Success Scorecard Criteria Reference Guide conveniently located on the left navigation bar of your Scorecard. The reference guide can also be found on our Learning Center.
For more information about your Servicer Success Scorecard:
- Read New Weights and Exceptions for 2013 Performance Criteria for additional information on performance criteria.
- Review the Servicing Success Program Web page.
- Review Guide Bulletin 2012-20.
- Contact your Freddie Mac representative or 800-FREDDIE.