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 and manage Flex Modifications.
  • Submit forbearance extension requests.
  • Upload FHA/VA/RHS loans for settlement.
  • Liquidation (Short Sale)
  • 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.

May 15, 2023

Payment Deferral Enhancements

  • Servicers can submit a Payment Deferral workout approval request via the UI, and then submit an approved workout for settlement, providing end-to-end processing of Payment Deferrals.
  • Servicers can upload bulk submissions for Payment Deferrals via the new Retention File Template in the Resolve UI, offering speed and efficiency to the workout process.
  • Detailed data points about a Payment Deferral for an individual loan can be exported in Excel format from the Workout Details page, providing the capability to refer to loan details for auditing, record keeping and comparison.
  • Overall, the Payment Deferral enhancements to Resolve keep the tool on track to comply with any future changes, enhancements or requirements related to default management.

User Provisioning Enhancement

  • New Resolve users are no longer required to also have access to Workout Prospector® if it’s not needed.
  • This enhancement expands access to Resolve for new users who only need to process workouts already available in Resolve, without requiring Workout Prospector provisioning and training. It also reduces usage and submissions in Workout Prospector.
  • Note: New and existing Resolve users who need to process workout solutions not yet available in Revolve must continue to use Workout Prospector.

Updates to Liquidation Loan File Template metadata

  • There have been updates to four existing metadata fields in the Liquidation Loan File Template, which is used when submitting a short sale workout request:
    • “Final Net Sale Proceeds” field is now required (previously optional) when submitting a settlement request to help understand the reason for the loss and reconcile the account.
    • “Exception Review Request Indicator” field (Y/N) is now required (previously optional) when submitting a workout approval request, so the Servicer can confirm whether they are submitting the workout for an exception review.
    • “Buyer First Name” and “Buyer Last Name” fields are now only required when submitting a workout approval request, requiring less input for Servicers.
  • Note: There are no new data points or changes to the template. Changes have only been made to the metadata tab.

Update to Flex Modification Submissions

  • Servicers don’t need to cancel a failed Trial Period Plan approval request (‘TPAREQ’ failure) in the Resolve API, allowing the user to re-evaluate the submission data and reprocess the evaluation without receiving an error.

March 27, 2023

Flex Modification Enhancements

  • Servicers can submit a modification workout approval request via the UI following a successful Trial Period Plan, and then submit an approved workout for settlement.
  • Detailed data points can be exported from the Workout Details page. Previously, the export feature was only available via the dashboard.

Notification and Dashboard Enhancements

  • The dropdown options on the dashboard to filter loans are presented in alphabetical order, allowing for more efficient searching.
  • Servicing Gateway notification messages about the status of a loan match those on the dashboard. For example, a status will be listed as “Approved for Trial Period,” rather than just “Approved”.
  • Some error messages have been updated and consolidated. Log in to the Developer Portal or access the Resolve Retention Request Validation Error Messages document on the Resolve training page for more details.

Payment Deferral Due Date Updates

  • When the due date of last paid installment (DDLPI) for a standard Payment Deferral workout approval request is the same as the prior month’s DDLPI, the tool will trigger an LM000072 fatal edit. (UI/API)
  • A new fatal error LM000144, appears when there are misaligned payment due dates. (UI/API)
  • For workout requests on a Payment Deferral, when the reported first payment due date is the same month as, or three months or more after, the requested submission date, the tool will trigger an LM000074 fatal edit. (UI/API)

February 10, 2023

Ability to Update Borrower Financials (UI / API)

  • When a loan is in Info Requested status, Servicers can now update the borrower’s financials—not just add comments—on the Resolve UI for Flex Modifications and Payment Deferrals, and Resolve recalculates the terms.
  • This allows for a more accurate workout request.

Updates to Disaster Flex Modification or Disaster Payment Deferral Eligibility (UI / API)

  • Eligibility for a Disaster Flex Modification or Disaster Payment Deferral is determined in part based on delinquency as of a disaster declaration date provided by the Servicers. A loan can be given only one standard Payment Deferral and/or multiple Payment Deferrals with national emergency and disaster hardships.
  • A Disaster Flex Modification or Disaster Payment Deferral request will return a fatal error if it’s submitted without a disaster declaration date.
  • This update ensures that the relevant information is submitted for Disaster Flex Modification and Disaster Payment Deferral requests to streamline the process and prevent errors.

Alternative Trial Period Plan Start Dates (UI / API)

  • Resolve has streamlined the process when asking for an alternative Trial Period start date to give Servicers more time to generate a Trial Period notice. Depending on the submission date, an exception review request may not be required.
  • The alternate date is dependent on the calendar day of the month on which the request is submitted; consult the online help for more information and examples.
  • This provides more flexibility in asking for an alternative Trial Period start date in cases that don’t require an exception request.

Notification and Dashboard Enhancements (UI)

  • Servicers now receive notifications via the bell notification icon in Servicing Gateway for loans with non-exception status, saving time by removing the need to go into Retention API to see status updates for these requests.
  • Submissions in the Resolve UI dashboard are displayed up to 50% faster, resulting in increased speed and efficiency.

**REMINDER: Required use of UI for both UI and API users in some scenarios

  • A workout exception request in Info Requested status must be updated via the Workout Details screen in the Resolve UI to provide additional data or information requested by the Freddie Mac analyst, even if the request was submitted via the Resolve Retention API.
  • The Resolve UI must also be used to submit a forbearance extension request or to settle an FHA, VA or RHS loan in your Freddie Mac portfolio.

December 5, 2022

Ability to Submit Flex Modifications

  • Starting December 5, 2022, the Resolve user interface (UI) includes the ability to allow Flex Modification draft, Trial Period Approval, and Cancellation request submissions, returning real-time eligibility decisions. Specific features and benefits include:

Streamlined Data Entry and Submission

  • Single or multiple loan requests (up to 100) including exceptions are submitted by a file template that’s downloaded, completed and uploaded using the retention workflow.
  • The submission template is flexible for all variations of Flex Modifications, including COVID-19 and Disaster, and allows submissions for eligibility decisions, trial approval, cancellation and exception reviews.
  • About 50% less data entry is required to submit a request compared to Workout Prospector. 
  • Property values, delinquent interest and other calculations are automated.
  • Exceptions on ineligible workouts are accepted via two methods: by resubmitting as an exception request via the file upload, or through the Click Request Exception Review action button when looking at a single loan in the workout details view.
  • Built-in data validation rules allow you to move forward with error-free requests and download a report to take corrective action on requests with identified errors.

Robust Tracking

  • Comprehensive and customizable dashboard displays a full portfolio view of Flex Modifications submitted via Resolve, including exception requests.
  • Filter and export features allow for tracking and managing loans efficiently.
  • The ability to view loan details or prior workout submission history for a specific loan saves up to an hour of research per loan.
  • Actionable feedback message provide transparency.
  • Servicing Gateway messages provide updates on loan status.

Seamless and Efficient Resolution and Settlement

  • Guide-compliant decisions are returned in 3-5 seconds for all modification types.
  • Responses also include pre-and post-workout terms and prior workout submission history for a loan that has been approved for initial eligibility or trial period.
  • Trial periods do not need to be reported in the Electronic Default Reporting tool (EDR).
  • Workout requests can be cancelled through a file upload via a template, or by using the Action button within the Workout Details page of a specific loan.
  • Flex Modifications submitted in the UI can continue to be processed in the UI or the API, and vice versa. (Please note that if you submit a loan in Workout Prospector, you must complete the process in that tool or cancel and resubmit.)

View training resources including webinars, online help, tutorials and more. If you need access to the tool, ask your organization’s Access Manager administrator to set up your user access and assign roles as appropriate. Note that Servicers must transition to Resolve for Flex Modifications no later than July 31, 2023.

July 31, 2022

Retirement of Workout Prospector for Short Sales

For Servicers not yet using Resolve for short sales, here’s the highlights:

  • Starting July 31, 2022, Servicers must use Resolve for all new short sale submissions. Workout Prospector will only be available for in progress short sales. Additionally, Bypass will no longer be available for short sales for Servicers using this method .
  • The key difference from Workout Prospector is that Resolve does the decisioning for you. Resolve enables you to manage short sales from submission through settlement.
  • Your organization has the option to adopt the user interface (accessed through Servicing Gateway), and/or the Liquidation API (B2B integration).

Reference the April 25, 2022 release notes below to learn about Resolve capabilities regarding short sales. Register for training on how to submit and manage short sales.

New Capabilities Enhance the Short Sale Process

For Servicers currently using Resolve to manage short sales, here are some new features with this release:

  • Export workout data from the workout details page – this information can be used in lieu of approval letters. 
  • The submission template has been updated with new data attributes to support short sale extension requests. New data columns include:
    • Extension Request Indicator
    • Extension Reason
  • To request a closing date extension for approved short sales, either use the submission template or click the ‘Request Extension’ icon in the upper right corner of the workout details page.

May 23, 2022

Short Sale Notifications

  • In Resolve you’ll receive notifications when the status updates for any short sales submitted by users within your organization. For example, when a workout goes from ‘Submitted’ to ‘Approved’ or from ‘MNP Pending’ to ‘Approved’.
  • The short sale submission template has updated data rules. Updates in the template and Error Report include:
    • Special Interior Access to accept only 255 characters.
    • Exception Review Request Indicator is a required field for an approval and settlement request.

Dashboard Tracks Retention Exceptions

  • The dashboard lets you easily track all Payment Deferral and Flex Modification exception requests that were submitted from the Retention API (if applicable to your organization).

April 25, 2022:

View an Enhanced Dashboard

  • The dashboard view (previously called ‘Decision Insights Pipeline) has evolved to a more comprehensive view of all your organization’s workout requests and statuses for workouts done in Resolve (short sales, forbearance extensions, FHA/VA/RHS loans). This includes API submissions when applicable.
  • Customize your dashboard view by choosing one or more filter options, such as Freddie Mac Loan Number, Submitted By, Submission Type and more.

Submit and Manage Short Sales to Resolution

A new submission process and rule-based decisions provide efficiencies for you, and overall faster mortgage assistance for borrowers.

  • The simplified menu consolidates current submission options. The menu will continue to expand with new workout options.
  • Starting April 25, 2022, there’s a new option to submit short sale requests. After July 31, 2022, you can no longer use Workout Prospector for short sales.
  • Submit all short sale requests for decisions in three easy steps:
    • Submit a single or multiple loan (bulk) request using a downloadable template. This template supports requests for eligibility, exceptions, and settlement decisions. The data input required is significantly less than in Workout Prospector.
    • Review data validation errors, correct, reupload and continue your submission.
    • Confirm your submission.
  • Eligibility decisions are returned real-time. Review decision outcomes of your requests and take additional action(s) as needed.
  • Additional capabilities include:
    • Ability to indicate if you want any ineligible loans to be submitted for exception processing.
    • The minimum net proceeds value is ordered if it’s missing or expired.
    • Option to cancel a short sale request as needed.

Register for training on how to submit and manage short sales.

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.

May 12, 2023

Update to Flex Modification Submissions

Servicers don’t need to cancel a failed Trial Period Plan approval request (‘TPAREQ’ failure) in the Resolve API, allowing the user to re-evaluate the submission data and reprocess the evaluation without receiving an error.

March 27, 2023

Payment Deferral Due Date Updates

  • When the due date of last paid installment (DDLPI) for a standard Payment Deferral workout approval request is the same as the prior month’s DDLPI, the tool will trigger an LM000072 fatal edit. (UI/API)
  • A new fatal error LM000144, appears when there are misaligned payment due dates. (UI/API)
  • For workout requests on a Payment Deferral, when the reported first payment due date is the same month as, or three months or more after, the requested submission date, the tool will trigger an LM000074 fatal edit. (UI/API)

February 10, 2023

  • API updates were made to Resolve Retention API Request Validation error messages, Resolve Workout Options, API Request Validation error messages and the Resolve Retention API Guide for Version 2 Schema. All three have been updated and posted to the Dev Portal. Specific updates to the error messages are listed on the Version History tab.
  • Resolve will trigger the following message when API requests are submitted during deployment downtime: “Resolve is currently undergoing maintenance. Please try submitting your request again later.”
  • Some other updates in this release impact those who access Resolve through the UI or an API. Please reference the UI section above for more details on the enhancements and changes in this release for API users.

**REMINDER: Required use of UI for both UI and API users in some scenarios

  • A workout exception request in Info Requested status must be updated via the Workout Details screen in the Resolve UI to provide additional data or information requested by the Freddie Mac analyst, even if the request was submitted via the Resolve Retention API.
  • The Resolve UI must also be used to submit a forbearance extension request or to settle an FHA, VA or RHS loan in your Freddie Mac portfolio.
December 5, 2022

Starting December 5, 2022, the user interface will expand to include Flex Modification submissions. Here’s what it means for Servicers and technology providers leveraging the Retention API:

  • The dashboard will display the full portfolio view of Flex Modifications submitted via Resolve, including exception requests. This new option is easy and convenient for viewing aggregated information on Flex Modifications.
  • Since Resolve is fully integrated for Flex Modifications, workouts submitted in the API can continue to be processed and finished in the UI, and vice versa.
  • No duplicate data entry is required; there is direct integration with your loss mitigation system.
  • If you submit a case via API for exception review for which Freddie Mac has requested more information, you will need to provide the requested data via the UI.
  • Please note, the ability to view workout details from the dashboard will not be available until Q2 2023. Continue to use your API response file for that data.

September 26, 2022

Modification to COVID-19 Flex Modification (FLXCVD)

  • Similar to a standard Flex Modification, if the principal and interest generated by a COVID-19 Flex Modification (FLXCVD) are greater than the amount before the modification, Servicers can now request an exception review. Fatal edit check (LM000018) and the same message now apply to both. 
  • Please note: Users who have not yet adopted Retention schema V2 must submit exception review requests via the negotiated path in Workout Prospector.

August 29, 2022

This release enhances workout processing for Flex Modifications.

Flexibility for Trial Period State Date
  • Servicers now have the flexibility to request a Trial Period State Date other than the one that Resolve calculates. For example, the Trial Period Start Date may be a date that is before or after the calculated date, depending on the unique borrower circumstance.
  • This enables Servicers to accommodate a homeowner who is about to start a trial period for a Flex Modification.
Timely Flex Modification Settlements
  • For circumstances when homeowners make early trial payments, Servicers now can request workout approval before the homeowner completes the trial period.
  • This enables Servicers to prepare the final workout documents that need to be signed by the homeowner and speed up the overall Flex Modification settlement process.

May 23, 2022

Submit Retention Exception Requests

The Retention API schema enhancements bring you one step closer to a fully integrated default management solution.

  • Download the updated Retention API schema (version 2) from the Developer Portal to submit exception requests for Payment Deferrals and Flex Modifications.
    • Request file: Enhancements to Retention API schema provides capability to indicate when exception decision is needed for Payment Deferrals and Flex Modifications in Resolve. Note that there are placeholders for upcoming enhancements.
    • Response file: Receive exception decision status, comments from Freddie Mac analyst to support exception decisioning, along with post workout terms. Additionally, receive new data elements, such as property evaluation type and date, deferred interest, and deferred principal.
  • With this update, your exception requests are integrated with the Resolve user interface. This means you have another option to track those requests in a simple and intuitive dashboard.
  • Additionally, both schema versions (1 and 2) for the Retention API provide real-time decisioning on active (non-delinquent) loans.

April 20, 2022:

Timing Update for Modification Trial Information

  • Trial period plan details for Flex Modifications have changed from the 1st calendar day to the 4th business day of the month.

FULL PRODUCT TIMELINE

Keep in mind, Servicers will continue to use Workout Prospector® in parallel with Resolve for a period of time until all features and capabilities are fully implemented in Resolve. For a comprehensive view into the multiyear roadmap, view the product timeline.