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Step 3 – Monitor Settlement

Workout Settlement Banner

You can monitor the progress of your workout settlements using the Servicer Performance Profile. Within the tool there is a wealth of Manager Series reports that give you more information for your specific workout type.

The below information is currently being updated. Please review the Manager Series Reference Guide.

Workout Type Helpful Reports/ Resources Description
All workouts

Performance Overview  Report

 

Displays all of your in-process workouts with Freddie Mac. This report provides a rolling 36-month overview of settlements in the following categories:

  • Receipts
  • Approvals
  • Settlements

Status Overview Report

Displays a current status of all workouts currently in the settlement process.

If you are inquiring about the settlement status of a workout that is in approved status and cannot determine the status when using Workout Manager, please contact WSO_Inquiries@freddiemac.com.

Settlement Status Codes Reference Guide

Use the reference guide to understand the codes and how to reconcile your workout settlements.

If you have questions about resolving a specific settlement defect, please contact WSO_Inquiries@freddiemac.com.

Modifications

 

Pending Modification Update Report

View the modified UPB and terms of the modification.

Loan Modification Processed Report

Confirm settlement has occurred for modifications.

Update Status Overview Report 

 

View modifications submitted but not settled due to data discrepancies.

To request the modification be removed from the cycle, please email Loss_Mit_Support_Cancellation@freddiemac.com

Short Sales and Third-Party Foreclosure Sales

Charge-off Exception Report

View settlement status codes for short sale and third-party foreclosure sale workout settlements that were reviewed and defected by Freddie Mac.

FM_Charge_Off_Forms_May_2014.xls

Calculate the charge-off credit due using the charge-off form for either a fixed rate or adjustable rate mortgage.

Detail Adjustment Report (DAR)

Monitor the DAR for updates following settlement.

The amount that will be charged off will be reflected the business day following the day of which the short sale or third-party foreclosure sale was settled successfully. 
If you determine there is a discrepancy on the DAR, go to the Post Settlement Correction step for more information.


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