The March 22, 2024, ECO® release includes a new dashboard and several enhancements across both ECO and Loan Advisor in ECO. These updates improve your experience by making it easier to view data and gain insights that allow you to refine your processes and better communicate with Freddie Mac. Here’s what’s new.

ECO Updates

Executive Summary Updates 
We’ve delivered greater transparency, a more complete view and wider summary of the data in the ECO pages and dashboards.

We’ve redesigned the Purchase Summary, Affordable Summary and Risk Summary views in the Executive Summary so they’re more aligned with Freddie Mac’s internal Executive Summary. Now, you’ll see the same metrics and trends as your Freddie Mac representatives.

Risk Summary Updates
Get a better view of the potential floor and ceiling for where your quality control (QC) Performing Loan Not Acceptable Quality (PL NAQ) rate might end up in the current quarter. 

We’ve moved the Preliminary QC Performing Loan Not Acceptable Quality (PL NAQ) rate view from the Executive Summary Key Performance Indicator (KPI) to the QC Performing Loan NAQ dashboard. We also modified the QC PL NAQ Loan Level Data Download data frequency from monthly to daily.

Super Conforming Monitoring Dashboard Updates 
You can easily access the prior month’s results and quickly compare them onscreen month-over-month to better identify trends.

We heard you and now provide the prior month’s data in the event you still need access to it. We also changed the default from graph to table view and added the Loan Level Data Download report.

Loan Advisor in ECO Updates

New Dashboard: Expanding Credit Opportunities (Borrower Cash Flow & Rent Payment History) 
Now you can identify additional opportunities for more Loan Product Advisor® (LPASM) Accept risk assessments, including opportunities to potentially save time and effort by leveraging the same verification report to identify rent payment history and take advantage of LPA asset and income modeler (AIM).

This new dashboard identifies LPA submissions that could have benefitted from the borrower’s positive cash flow or rent payment to potentially impact the LPA risk assessment.

ACE Performance Dashboard and Maps Updates 
You can have more clarity around when a loan wasn’t assessed for ACE because it didn’t meet requirements for assessment as opposed to when it was assessed and found to be not eligible.

We’ve updated the waterfall logic for the dashboard to move seven message categories from “Not Eligible for ACE” to “Not Assessed for ACE.”

These updates are now live in ECO. Log in today to check them out and review the ECO release notes or Loan Advisor in ECO release notes for more information.