Beginning Dec. 9, servicers must use Freddie’s Resolve default management tool to complete the following actions: charge-offs, foreclosure sale reporting, custom modifications, deed-in-lieu of foreclosure and third-party foreclosure sale settlements.
Previous industry changes — the Uniform Mortgage Data Program, the single security initiative and the transition away from the London Interbank Offered Rate — took longer than expected to put into place and caught some stakeholders flat-footed.