On Tuesday, Freddie Mac will hold a two-hour webinar introducing their new 2017 Servicer Success scorecard. The goal of the webinar is to introduce servicers to the new scorecard’s design and to help servicers increase their performance. The GSE will teach webinar attendees how to access their scorecard and navigate the new application process.
Those approved for the Freddie Mac Servicer Success can access the webinar through the Freddie Mac website.
The 2017 Servicer Success scorecard is a part of Freddie Mac’s Servicing Success Program, which offers analysis of servicer performance through defined metrics, benchmarks, requirements, financial incentives, and compensatory fees. The Scorecard offers metrics for both default management and investor reporting, and releases at the end of every month.
Default management metrics include transition from 30 to 60-plus, cure efficiency, retention efficiency, liquidation efficiency, six-month modification performance, and total timeline trend. The scorecard is open to approved Freddie Mac servicers.
In the webinar, Freddie Mac will cover revisions to the Servicer Success Scorecard, including the revised default management and reporting metrics. According to the GSE, all default management metrics are now equally weighted. Freddie Mac also updated its calculations for all default management and investor reporting metrics.
New reports in the scorecard include a Rank Improvement Report and a 12-Month Rolling Scorecard Summary. The webinar will cover this, plus details on included vs. excluded loans, control variables and calculations.
Freddie Mac has announced new features of the Servicer Success Scorecard, such as easier navigation, a “click and print” option for the scorecard, a trend indicator for performance vs. synthetic history, and Servicing Agent and Interim Servicer Scorecards (as applicable) and related portfolio comparison reports.
This Week’s Schedule
Housing Starts Report, Tuesday, 8:30 a.m. EST
MBA Mortage Applications, Wednesday 7 a.m. EST
Freddie Mac Weekly Mortgage Survey, Thursday, 10 a.m. EST
Zillow Real Estate Markets Report, Thursday 8 a.m. EST