The Digital Digest is your connection to the latest updates and resources to optimize your Resolve API integration.

News and Noteworthy

Resolve APIs in Action

Watch this video for a demonstration of how you can optimize your integration using the Workout Options API with the Retention and Liquidation APIs. The video shows an example of how the APIs are intended to work once full capabilities are available. By leveraging the suite of APIs, you can maximize your efficiency and set your organization up for success in the long run. Integrate today, invest in tomorrow.

Watch Video

Who You Gonna Call?

Here’s an overview of the Resolve APIs and the types of calls you can make for each.

Resolve API
Draft 
Trial Approval
Workout Approval
Settlement
Workout Options API
Yes
N/A
N/A
N/A
Retention API
(Payment Deferral)
Yes
(optional)
N/A
Yes
Yes
Retention API
(Flex Modification)
Yes
(optional)
Yes
Yes
Yes
Liquidation API
(Short Sale)
N/A
N/A
Yes
Yes

Release Round Up

Discover the Value of Schema Version 2

API schemas are updated about once a year to enable new request and response capabilities. This spring we launched the Retention schema V2. We recommend that you always plan and anticipate for implementation of the next version.

With V2, you can:

  • Submit exception requests for Payment Deferral and Flex Modification – this avoids having to use Workout Prospector.
  • Adjust the trial period plan start date.
  • Receive new data elements, such as property evaluation type and date, deferred interest and deferred principal.
  • Integrate with the Workout Options API – an additional opportunity for automation and comprehensive workout decisions.
  • Be ready for upcoming enhancements (placeholder data is in place).

Here’s how to get started:

  1. Visit Developer Portal and log in with your credentials.
  2. Go to the API Catalog > Select Resolve Retention API.
  3. Click API Details.
  4. View, download, prepare your new request and response files.

Best Practices

Schema Guidelines

Check out the new resource that will help your organization optimize your integration with examples of what to do, and what not to do, when sending data to Freddie Mac using the API schemas.  

Get the Guidelines

Click on ‘Resolve APIs: Schema Guidelines’.

Switching Workout Options

When you need to switch from one (retention) workout that has been submitted, for another, follow these steps:

  • Use the Retention API to cancel the workout by submitting ‘CXLReq’. Use the relevant cancel reason.
  • Use the user interface dashboard to track the modification exception status which are automatically integrated.

Cancelling a Workout

Servicers can submit a cancellation request at various stages in the workout process. Cancellation reasons include:

  • Borrower failed the trial period.
  • Borrower declined the modification terms.
  • Failed to return the executed modification agreement.
  • Borrower did not accept the offer.
  • Borrower is unable to make a trial period payment in the month in which is it due.
  • Servicer needs to initiate non-delegated exception review due to eligibility errors, or
  • Borrower is unable to proceed with the workout for any reason.

Avoiding Failed Trials

If you need to cancel a Flex Modification trial period (not because a borrower failed a trial), here’s what you should do:

  • Cancel by the fourth business day following the trial start month.
  • Use any other reason than “Borrower failed trial”.

Please note: A workout is counted as failed only if the cancel reason is ‘Borrower failed trial’.