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I N D U S T R Y I N S I G H T / K E N B U R K E
As mortgage servicers know, there may be times when
homeowners encounter stressful situations that can make
it difficult for them to pay their mortgages. Whether due
to a natural disaster, a personal or family hardship such
as a death in the family, or the loss of a job, when these
situations occur, homeowners need counseling, guidance, answers, and
solutions—fast.
e experience and insights provided by
servicers from across the country is allowing
Freddie Mac to spearhead efforts to reimagine
and improve loan servicing. is process
involves implementing technology and tools
that will provide servicers with better data,
faster response, updated policies, and improved
processes designed to reduce costs, minimize
credit loss, and promote a better, more timely
experience for servicing partners and their
homeowner clients.
Freddie Mac's "Reimagine Servicing" initiative is
focused on four goals:
1. Transforming the client experience
2. Improving efficiency
3. Innovation and speed to market
4. Reducing costs
Servicers want and need background data.
ey want to understand the big picture when
a homeowner encounters trouble, and better
data can help them make the best decisions
for all interested parties. Servicers know that
data drives much of the servicing process—
from reporting and analysis to technology
optimization and insight—but ultimately, it
drives the basis of good customer experience and
positive portfolio outcomes.
In response to these needs, Freddie Mac
is leveraging data-focused solutions to ensure
that our servicers have the state-of-the-art tools
needed to drive success. ese initiatives are
focused in three key areas:
1. DATA-DRIVEN TIME REDUCTIONS THAT
DRIVE OPPORTUNITIES FOR EFFICIENCY.
rough data collection and analysis,
Based on surveys of servicer needs, here's how Freddie
Mac is working with its industry partners to better
serve American homeowners.
