Freddie Mac: Changes to Investor Reporting

Similar to the processing changes implemented in February 2017 for Fannie Mae, we have completed the required processing changes for Freddie Mac that will be effective with the May 2019 reporting cycle.  Training will be offered in late April for those credit unions who offer Freddie Mac loans.  Here is a highlight of the changes:

  • Moving to an industry standard monthly investor reporting cycle beginning the first of the month.
  • Allowing for daily loan-level reporting and editing.
  • Adopting a single common remittance due date for principal and interest on all loans (excluding payoffs).
  • Drafting funds due from the CU directly on the remittance due date.

More information is available on the Freddie Mac site.

The chef for this recipe is Karen Sorensen.

Updated
March 12, 2019

Visit the Kitchen Today for New Information on ACH Exception Processing Enhancements

Visit the Kitchen Today for New Information on ACH Exception Processing Enhancements

On May 9, 2019, a CU*Answers design team met to brainstorm ideas for changes to CU*BASE tools and processing routines.  Our main goal is to make it clearer to end-users how the tools work, including warnings about what to watch out for and tips for avoiding potential pitfalls. As a result of these preliminary conversations,… Read more »

May 14, 2019

Have you checked out the NCUA’s proposed 5300 Call Report changes?

Have you checked out the NCUA’s proposed 5300 Call Report changes?

Have you checked out the NCUA’s proposed 5300 Call Report changes yet?  The changes are targeted for March 2019, and the NCUA wants your feedback! The overall theme is modernization and simplification in order to reduce the reporting burden for credit unions.  Check out the 5300 Call Report Tools kitchen page for a highlight of… Read more »

Feb 15, 2018