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.
  • Automatically settle third-party foreclosure sales.
  • 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.

July 29, 2024

Payment Deferral Eligibility for Borrowers with Disaster-Related Delinquency

  • Resolve now issues a conditional approval when a borrower must make one or more payments in the evaluation and/or processing month to be eligible for a disaster payment deferral. The Servicer must collect and report the payment(s) via Loan Level Reporting before submitting the settlement request and is no longer required to resubmit for evaluation (Workout approval request) before settlement.
  • This change allows a borrower evaluated in the 13th month of a disaster-related delinquency to be eligible for payment deferral, provided they make a payment in the evaluation and/or processing month.
  • It also allows more borrowers to conditionally qualify for payment deferrals and provides clearer messaging to Servicers.

Payment Deferral Eligibility with Required Payment in Evaluation/Processing Month

  • Resolve now issues a conditional approval when a borrower must make a payment(s) in the evaluation and/or processing month to be eligible for a payment deferral or disaster payment deferral. The Servicer must collect and report the payment(s) via Loan Level Reporting before submitting the settlement request and is no longer required to resubmit for evaluation (Workout approval request) before settlement.
  • This change enables the Servicer to collect a payment during the evaluation and processing months to bring the payment deferral within the program limits.
  • It also ensures the borrower remains eligible for a payment deferral or disaster payment deferral.

Flex Modification Delinquency

  • If a loan became 60 days delinquent within 12 months of the first payment due date for a prior Flex Modification and the borrower hasn’t brought the loan current following the delinquency, submitting a workout request for a standard Flex Modification will trigger a fatal error.
  • This change increases accuracy of Flex Modification evaluations.

Historical Data Added for Loan Modifications

  • Resolve now includes all historical data from prior modifications, which is located under the prior history section.
  • This provides a more complete picture and accurate account of past modification data.

Updated Message Related to Broker Price Opinion (BPO) Orders

  • An update to message RE001054 asks Servicers to verify the property address and provides additional instructions to update incorrect addresses to prevent a BPO order being cancelled or delayed.
  • It provides faster determination of workout eligibility, additional information regarding the delays and aligns data between Freddie Mac and the Servicer.

Updates to Foreclosure Sale Reporting

  • Servicers can now use Resolve to report third-party foreclosure sales, Real Estate Owned (REO) sales and HUD/VA sales.
  • This provides a more streamlined user experience and end-to-end functionality for reporting foreclosure activity to Freddie Mac.
  • It also reduces the required data elements by 50%, shows edits in real time and eliminates the need to report in the Foreclosure Sale Reporting tool.

Third-Party Foreclosure Sale Auto Settlement

  • Resolve now automatically settles third-party foreclosure sales. A settlement request is automatically triggered when the proceeds are received and the payoff is reported in Loan Level Reporting. by reporting of the payoff in Loan Level Reporting when the proceeds are received.
  • This eliminates the need for the Servicer to request settlements and reduces the number of aged cases pending settlement.
  • Integration with Real Estate Valuation and Payoff allows the Servicer to obtain credit bid values and validate the sale proceeds against the credit bid and the total debt.

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.

July 29, 2024

Payment Deferral Eligibility for Borrowers with Disaster-Related Delinquency

  • Resolve now issues a conditional approval when a borrower must make a payment in the evaluation and/or processing month to be eligible for a disaster payment deferral. (The Servicer must collect and report the payment(s) via Loan Level Reporting before submitting the settlement request.)
  • This change allows a borrower evaluated in the 13th month of a disaster-related delinquency to be eligible for payment deferral, provided they make a payment in the evaluation and/or processing month.
  • It also allows more borrowers to conditionally qualify for payment deferrals and provides clearer messaging to Servicers.

Payment Deferral Eligibility with Required Payment in Evaluation/Processing Month

  • Resolve now issues a conditional approval when a borrower must make a payment(s) in the evaluation and/or processing month to be eligible for a payment deferral or disaster payment deferral. (The Servicer must collect and report the payment(s) via Loan Level Reporting before submitting the settlement request.)
  • This change enables the Servicer to collect a payment during the evaluation and processing months to bring the payment deferral within the program limits.
  • It also ensures the borrower remains eligible for a payment deferral or disaster payment deferral.

Flex Modification Delinquency

  • If a loan became 60 days delinquent within 12 months of the first payment due date for a prior Flex Modification and the borrower hasn’t brought the loan current following the delinquency, submitting a workout request for a standard Flex Modification will trigger a fatal error.
  • This change increases accuracy of Flex Modification evaluations.

Historical Data Added for Loan Modifications

  • Resolve now includes all historical data from prior modifications, which is located under the prior history section.
  • This provides a more complete picture and accurate account of past modification data.

Updated Message for Existing Upfront Retention Rule

  • The description for message RE001050 has been updated to be more user-friendly by providing additional instructions for exceptions during processing.

Updated Message Related to Broker Price Opinion (BPO) Orders

  • An update to message RE001054 asks Servicers to verify the property address and provides additional instructions to update incorrect addresses to prevent a BPO order being cancelled or delayed.
  • It provides faster determination of workout eligibility, additional information regarding the delays and aligns data between Freddie Mac and the Servicer.