Freddie Mac has released a new Web tool aimed at servicers.
The government-sponsored enterprise's Workout Settlements website went live Tuesday. The website provides step-by-step directions regarding the workout settlement process, from preparing for a transaction's settlement to completing post-settlement corrections.
The website also features links to training opportunities from Freddie Mac and tips regarding potential issues a servicer may encounter.
The new site builds on Freddie Mac's efforts to facilitate the loan settlement process for lenders, including the introduction of the new Workout Prospector in 2014 and the addition of a new automated settlement function for liquidations for the service last November.
