PAID Speeds Up Reimbursement for Servicers
As of September 27, 2021, we’ve launched PAID (Payments Automated Intelligent and Dynamic), a new technology solution as part of our mission to Reimagine Servicing®. PAID reengineers expense reimbursement for servicing activities with greater automation, flexible submission and transparent oversight. The tool was built from client insights to ensure Servicers have speed-to-market advantages.
Hear from early adopter, Rocket Mortgage on how PAID delivers efficiencies and time savings throughout their reimbursement workflow.
A New Way for Servicers to Get PAID
The Essentials for Getting PAID
Ramp up with PAID by following these best practices.
Check Your Access
Access PAID under My Tools from Servicing Gateway using your Freddie Mac Access Manager credentials. Servicers that were permitted migration of access for active users of the Reimbursement System now have access to PAID. Administrators can also begin adding new users and additional administrators in Access Manager.
Having trouble accessing the tool? Contact your Access Manager administrator for access to PAID. If your organization needs to enroll in Access Manager, submit the form to get started.
Note: Vendors should contact their Servicer regarding access
Take Training
Visit our dedicated web page featuring a variety of resources to help you successfully transition to PAID. Training options include:
- Live webinars
- Online help
- Short video clips
- Job aids, reference guides and more
Get Familiar with eBill
Access eBill to reconcile reimbursement payments made through automated clearing house (ACH) transactions. Watch this tutorial to learn how to use the tool. Contact your Access Manager administrator if you do not already have access to eBill.
Note: Master Servicers will not have access to ACH information within eBill if a sub-servicer submits claims in PAID on your behalf. In these cases, only the sub-servicer will have access to the ACH transaction information within eBill. Transactions in eBill will appear under one Seller/Servicer Number; if a sub-servicer submits the expense, the payment will be rolled up to their Seller/Servicer Number.
The Future of PAID
Expect an evolving experience of innovative capabilities such as B2B integration, access role enhancements and the ability to initiate co-browse sessions for real-time assistance.
Key Reminders
- Automated clearing house (ACH) is required to get reimbursed for expenses submitted in PAID. Make sure your organization is set up by completing Form 1132 and email the completed form to the Cash Collections team.
- The previous claims platform, Reimbursement System (VendorScape®), is now retired, however, it will remain available until November 30, 2021 for archive/read-only purposes.