Are You Ready for New Imminent Default Evaluations in Workout Prospector?
February 26, 2018
Workout Prospector® now captures imminent default evaluations for Freddie Mac Flex Modifications®. This transparent, rules-based approach replaces our Imminent Default Indicator® tool and is one of the ways in which we’re building a better mortgage process.
You can begin using Workout Prospector today for data submissions and reporting new imminent default evaluation requirements to Freddie Mac. On and after July 1, when we retire Imminent Default Indicator, you must use Workout Prospector for new data submissions and reporting imminent default evaluation requirements to Freddie Mac. We strongly encourage you to implement these new imminent default evaluation requirements as soon as you’re able to do so.
For More Information
- Read Single-Family Seller/Servicer Guide Bulletins 2017-22 (announcement) and 2017-27 (detailed reporting requirements).
- Review our updated Workout Prospector Users’ Guide.
- Visit Freddie Mac’s Learning Center for more on our training programs and reference tools.
- Contact your Freddie Mac representative.