Freddie Mac posted details about its new Servicing Success Program Monday as the government-sponsored enterprise prepares for the Aug. 1 launch of the initiative.
Through the program, Freddie hopes to offer servicers a more "robust and balanced approach" to setting standards for what the GSE expects from its servicing clients in the field.
The program will not only set performance bars, but will provide a stream of feedback on servicer strengths and weaknesses. It also will allow for open dialogue to give servicers the information they need to improve the performance of their portfolios.
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