The Aged Edit Metric in the Servicer Performance Profile (SPP) is used to assess a Servicer’s performance; specifically, it’s an indicator of a Servicer’s promptness in resolving data discrepancies, called “edits.” It reflects, as a percentage, the number of loans with edits that occurred in the previous month that have aged edits in the current month. While the goal of this metric remains the same, several key changes are designed to make it more accurate, straightforward and user-friendly.

Changes Address Pain Points, Encourage Improvement

The new version of the Aged Edit Metric is visible to Servicers as of August 30, 2024. Here’s what changing with the July 2024 data cycle:

  • The field of scorecard impact edits will be expanded to 35 edits that have a financial impact to both the Servicer and Freddie Mac. These edits will only be applicable to the numerator of the metric.
  • Loans with 30-day aged edits—currently excluded in the current metric—are added to the calculation, providing a more holistic view of a Servicer’s efficiency in resolving data discrepancies.
  • Overall performance comprises three weighted categories of aged edits: 30-day (40%), 60-day (30%) and 90-day and greater (30%).
  • Servicers are rated on a revised performance scale (0-100%), and an overall score greater than or equal to 80% is considered passing.
     

Aged Edits graph

The inclusion of three weighted categories allows Servicers to quickly identify opportunities for improvement, while the expanded edit field provides a more holistic view of a Servicer’s performance compared to the current version of the metric. Additionally, adding 30-day aged edits resolves aging irregularities that have been observed in the past. With these robust changes, Servicers are encouraged to be especially diligent in their resolution of edits to prevent them from aging.

12-month rolling scorecard for Investor Reporting, with Aged Edits information

Seamless Update Requires No Servicer Action

No new action is required: Servicers can access the updated Aged Edit Metric in their Servicer Success Scorecard. To learn more about the updated metric, Servicers can review the Freddie Mac Servicer Success Scorecard Reference Guide and Servicer Success Scorecard Performance Metrics Reference Tool. For additional questions, Servicers can reach out to their Freddie Mac Investor Reporting representative or call the Customer Support Contact Center (800-FREDDIE).