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.
  • Submit, manage and settle deeds-in-lieu.
  • 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.

March 25, 2024

Deed-in-Lieu capability added to Resolve UI

  • The Resolve UI now includes end-to-end functionality of deeds-in-lieu from submission to settlement, with half the required data elements.
  • Broker Price Opinion (BPO) integration allows Servicers to retrieve or order a BPO within Resolve for deed-in-lieu submissions. This ensures a valid BPO order has been completed prior to submission, reduces declines due to incomplete submissions and eliminates the need for a valuation tracker.
  • The capability to obtain delegated approval for deed-in-lieu submissions that meet policy guidelines provides Single-Family Seller/Servicer Guide (Guide)-approved decisions based on your inputs, without the need to contact Freddie Mac for approval or request an exception review.
  • Servicers can request an exception review for deed-in-lieu loans that fail eligibility requirements and track their status on the dashboard.
  • Deed execution reporting capability for approved deed-in-lieu loans eliminates the need to report them in the Foreclosure Sale Reporting tool. Deed execution reporting edits are also reduced due to the reliance of Freddie Mac data and will show in near real time. 
  • Auto-settlement requests of deed-in-lieu loans after reporting the deed execution date and liquidation in Loan Level Reporting removes the need to come back into the tool to submit the request.
  • Servicers can track the status of deed-in-lieu loans on the dashboard or via Servicing Gateway notifications, providing transparency into the process and reducing reliance on email, especially for exceptions.
  • Exporting deed-in-lieu submission data and decisions allows for record keeping, without system-generated approval letters.

Updates to foreclosure triggers for Flex Modifications and payment deferrals

  • When processing all types of Flex Modifications and payment deferrals that have a scheduled foreclosure sale date, the timing of warning and fatal triggers has been updated.
  • Resolve will trigger a fatal or warning error if the subject property is in a state that follows the judicial foreclosure process, and the scheduled foreclosure sale date is within 60 days of the workout submission; or if the subject property is in a state that follows a non-judicial foreclosure process, and the scheduled foreclosure sale date is within 30 days of the workout submission.
  • This reduces exception requests and increases the accuracy of when warning and fatal edits trigger.

Modified criteria for validating loan origination date

  • The criteria for determining eligibility for standard Flex Modifications and payment deferrals is now based on the current workout evaluation date instead of the loan origination date and is counted in days instead of months. 
  • This eliminates confusion on the eligibility for a standard Flex Modification or payment deferral, as loans may be eligible 365 days (366 in a leap year) from the date of origination. It also increases the accuracy of when the fatal error triggers.

Update to EDR for Flex Modification Trial Period Plans

  • The action begin date in EDR for the cancellation request submitted on an in-progress Flex Modification Trial Period has been updated to the last day of the prior month when the cancellation is reported.
  • This change increases accuracy of default reporting when Servicers submit for cancellation. 
  • It also ensures the cancellation process falls in the proper accounting cycle, preventing late processing which can result in a negative impact to the borrower and to a Servicer’s performance metrics. 

Update to deferred principal calculation

  • For all types of payment deferrals submitted via the Resolve UI or API, the deferred principal calculation has been updated to use Servicer-provided delinquent interest.
  • This change aligns Freddie Mac’s response data to reflect the amount of deferral principal and interest (P&I) when a Servicer uses the requested delinquent interest field for a workout approval request (WAReq) submission.
  • It also reduces the need to submit via Servicing Data Corrections.

Updates to imminent default criteria

  • Imminent default criteria for eligibility for all types of Flex Modifications have been updated from less than three to less than two months, better reflecting existing policy. 
  • The hardship reason type, borrower and co-borrower FICO score, cash reserves amount and property usage type on the Retention template Flex Modification metadata tab column K have been updated to check for a delinquency of less than two months.
  • These updates increase the number of approved Flex Modifications in early delinquency.
  • The updates also eliminate the need for an imminent default indicator check and reduce the number of required data elements for borrowers who are within a delinquency period of 60 to 90 day.
  • Note: Servicers must continue to send applicable data to evaluate if the borrower meets imminent default criteria. Refer to Guide Section 9206.7.

Ability to export charge-off data

  • Servicers can export the charge-off workout details page from the UI.
  • This allows for record keeping of submission data and decisions related to charge-offs.
     

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.

March 25, 2024

Updates to foreclosure triggers for Flex Modifications and payment deferrals

  • When processing all types of Flex Modifications and payment deferrals that have a scheduled foreclosure sale date, the timing of warning and fatal triggers has been updated.
  • Resolve will trigger a fatal or warning error if the subject property is in a state that follows the judicial foreclosure process, and the scheduled foreclosure sale date is within 60 days of the workout submission; or if the subject property is in a state that follows a non-judicial foreclosure process and the scheduled foreclosure sale date is within 30 days of the workout submission.
  • This reduces exception requests and increases the accuracy of when warning and fatal edits trigger.

Modified criteria for validating loan origination date

  • The criteria for determining eligibility for standard Flex Modifications and payment deferrals is now based on the current workout evaluation date instead of the loan origination date and is counted in days instead of months. 
  • This eliminates confusion on the eligibility for a standard Flex Modification or payment deferral, as loans may be eligible 365 days (366 in a leap year) from the date of origination. It also increases the accuracy of when the fatal error triggers.

Update to EDR for Flex Modification Trial Period Plans

  • The action begin date in EDR for the cancellation request submitted on an in-progress Flex Modification Trial Period has been updated to the last day of the prior month when the cancellation is reported.
  • This change increases accuracy of default reporting when Servicers submit for cancellation. 
  • It also ensures the cancellation process falls in the proper accounting cycle, preventing late processing which can result in a negative impact to the borrower and to a Servicer’s performance metrics.

Update to deferred principal calculation

  • For all types of payment deferrals submitted via the Resolve UI or API, the deferred principal calculation has been updated to use Servicer-provided delinquent interest.
  • This change aligns Freddie Mac’s response data to reflect the amount of deferral principal and interest (P&I) when a Servicer uses the requested delinquent interest field for a workout approval request (WAReq) submission.
  • It also reduces the need to submit via Servicing Data Corrections.

Updates to imminent default criteria

  • Imminent default criteria for eligibility for all types of Flex Modifications have been updated from less than three to less than two months, better reflecting existing policy. 
  • This update increases the number of approved Flex Modifications in early delinquency.
  • It also eliminates the need for an imminent default indicator check and reduces the number of required data elements for borrowers who are within a delinquency period of 60 to 90 day.
  • Note: Servicers must continue to send applicable data to evaluate if the borrower meets imminent default criteria. Refer to Guide Section 9206.7.