Resolve Release Summary

A new technology experience is here, providing an efficient path to reach resolution for mortgage relief and managing default activities. Resolve®  is an integrated default management solution that follows an agile approach to delivering capabilities iteratively for faster market solutions.

This article is updated periodically with upcoming and new release capabilities. 

SUMMARY: WHAT'S AVAILABLE

User Interface (UI)Application Programming Interface (API) Integration
  • Submit, manage and settle payment deferrals.
  • Submit, manage and settle Flex Modifications.
  • Submit forbearance extension requests.
  • Upload FHA/VA/RHS loans for settlement.
  • Submit liquidations (short sales).
  • Submit, manage and settle charge-offs.
  • View and track your organization’s workout requests to resolution from a comprehensive dashboard.
  • Workout Options (payment deferral/Flex Modification)
  • Retention (payment deferral/Flex Modification)
  • Liquidation (short sale)
  • Valuation and Pricing (Minimum net proceed value)
  • Reference the API overview for more information on the capabilities.

RECENT RELEASES

User Interface (UI)

Access Resolve from Servicing Gateway and experience intuitive navigation and simple workflows. For new users, request access from your Access Manager administrator.

October 30, 2023

Charge-Off Capability Added to Resolve UI 

  • Servicers now have an updated and simpler method to submit charge-off recommendations to Freddie Mac. 
  • The charge-off template uploaded in the UI reduces the amount of data required from the Servicer and allows them to upload supporting documentation for workouts using the UI—eliminating the need to send it via email. 
  • Users can use the dashboard to manage pipelines and stay informed of the status of a charge-off. 
  • Auto-generated settlement requests (following payoff) for approved charge-offs give Servicers end-to-end processing of charge-off workouts using a single request submission. 
  • Note: API users will need to submit charge-off recommendations through the UI.

Flex Modification Enhancements 

  • For Draft Requests (DraftReq) and Trial Period Plan Approval Requests (TPAReq), Servicers now have flexibility to notify Freddie Mac ahead of time of the intended Trial Period date. 
  • For Draft Requests (DraftReq) and Trial Period Approval Requests (TPAReq), a fatal edit will trigger if the borrower is less than three months delinquent and their income is 0—not only if their income information is missing. This gives Servicers a clearer understanding about the eligibility requirements for a workout based on a borrower’s delinquency. 
  • If a Servicer cancels a Trial Period that’s in progress and starts a new one on the same day, they no longer need to send the cancellation code to EDR, as Resolve automatically sends it. 

Flex Modification / Payment Deferral Enhancements 

  • Servicers must now wait to process a new submission when the prior submission is still in progress for the same loan. This prevents errors occurring from back-to-back submissions. 
  • If the Servicer cannot make Quality Right Party Contact (QRPC) with the borrower, the information about the property type usage, occupancy and hardship reason are conditional based on the delinquency of the loan. 
  • Servicers cannot attempt to process a workout if the scheduled foreclosure date is within 30 days of submission of the workout. 
  • For Workout Approval Requests (WAReq), Trial Period Approval Requests (TPAReq) and Settlement Requests (SETReq), Servicers can now track recurring fatal edits if they need to make any adjustments, giving a more complete picture of what edits were triggered. 
  • For Workout Approval Requests (WAReq) and Trial Period Approval Requests (TPAReq), Servicers now have flexibility to submit for an exception in cases where, due to the borrower’s unique circumstances, Freddie Mac needs to make an exception decision. This allows Servicers to submit loans with scenarios that fall outside of our general workout programs for exception review.

Short Sale Enhancement 

  • The Short Sale Arms’-Length Transaction Indicator field name and metadata tab have been updated so Servicers can confirm if the sale is an arm’s length transaction. 
  • This helps reduce unintended eligibility failure and back and forth clarifications during exception reviews.

API Integration

Resolve APIs provide greater flexibility, transparency and much more because you can connect directly to Freddie Mac without leaving your existing default management platform. The APIs are a new and faster way of reaching resolution for mortgage relief.

October 30, 2023

Flex Modification Enhancements

  • For Draft Requests (DraftReq) and Trial Period Approval Requests (TPAReq), Servicers now have flexibility to notify Freddie Mac ahead of time of the intended Trial Period date.
  • For Draft Requests (DraftReq) and Trial Period Approval Requests (TPAReq), a fatal edit will trigger if the borrower is less than 3 months delinquent and their income is 0—not only if their income information is missing. This gives Servicers a clearer understanding about the eligibility requirements for a workout based on a borrower’s delinquency.
  • If a Servicer cancels a Trial Period that’s in progress and starts a new one on the same day, they no longer need to send the cancellation code to EDR, as Resolve automatically sends it.

Flex Modification/Payment Deferral Updates

  • Servicers must now wait to process a new submission when the prior submission is still in progress for the same loan. This prevents errors occurring from back-to-back submissions.
  • If the Servicer cannot make Quality Right Party Contact (QRPC) with the borrower, the information about the property type usage, occupancy and hardship reason are conditional based on the delinquency of the loan. 
  • Servicers cannot attempt to process a workout if the scheduled foreclosure date is within 30 days of submission of the workout. 
  • For Workout Approval Requests (WAReq), Trial Period Approval Requests (TPAReq) and Settlement Requests (SETReq), Servicers can now track recurring fatal edits if they need to make any adjustments, giving a more complete picture of what edits were triggered. 
  • For Workout Approval Requests (WAReq) and Trial Period Approval Requests (TPAReq), Servicers now have flexibility to submit for an exception along with comments, in cases where, due to the borrower’s unique circumstances, Freddie Mac needs to make an exception decision. This allows Servicers to submit loans with scenarios that fall outside of our general workout programs for exception review.
  • For Workout Approval Requests (WAReq) and Settlement Requests (SETReq), the property valuation evaluation date and property value type are now listed in additional to the property valuation amount.