Freddie Mac is conducting a pilot test of a Web-based loan servicing system with one lender, the company's customer service director told the Western States Loan Servicing Conference Aug. 11 in Las Vegas.Patricia Chen said Freddie Mac will integrate the program all the way through default management functions and predicted that the initiative will reduce data entry demands on lenders. The government-sponsored enterprise plans to introduce the program to more lenders late next year and expand it further in 2005, she said. Ms. Chen declined to identify the lender with whom the GSE is doing the pilot. Freddie Mac can be found online at http://www.freddiemac.com.
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