9102.7: Monthly EDR (04/11/18)

Owned by Kacey Olson (Unlicensed)
Nov 23, 2018
3 min read

© Freddie Mac Single-Family Seller Servicer Guide

(a) Reporting to Freddie Mac A Servicer must report, within the first three Business Days of a month, applicable information through EDR for:

  • All Mortgages that were 30 or more days delinquent or Mortgages for which the Borrower was in bankruptcy during the previous month, regardless of whether the Borrower is current or delinquent in his or her Mortgage payments
  • Mortgages for which the Borrower is current in his or her Mortgage payments and for which the Servicer is pursuing an alternative to foreclosure (Note: Servicers must comply with all Guide requirements with respect to considering a Borrower who is current in his or her Mortgage payment for an alternative to foreclosure, including, as applicable, any requirement that the Borrower be in imminent default or found to have suffered an involuntary inability to pay.)A Servicer must continue to report the applicable information through EDR for each Mortgage until:
    • The Mortgage is fully reinstated or paid off
    • A workout is completed and settled in Freddie Mac's system
    • A foreclosure sale is held
    • The Borrower is no longer in bankruptcy and the Mortgage is current
    • For current Mortgages under consideration for an alternative to foreclosure, there are no applicable default action codes to report for the month

A Servicer must submit an EDR transmission and indicate "no activity to report" if, during the previous month:

  • There were no Mortgages 30 or more days delinquent or Borrowers in bankruptcy, and
  • There was no new activity to report with respect to Mortgages for which the Servicer was pursuing an alternative to foreclosure

If a Servicer services Mortgages under more than one Seller/Servicer number, the Servicer must report via EDR for each number.

A Servicer must provide the following data elements for each Mortgage reported:

  • Seller/Servicer Number
  • Freddie Mac loan number
  • DDLPI

In addition, the following data elements must be reported, as applicable:

  • Default action(s)
  • Default action date(s)

A Servicer must also report the following data elements in the earliest EDR transmission after receiving the information, but no later than when reporting on a Mortgage that is 90 days delinquent:

  • Default Reason
  • Property Condition
  • Occupancy Status

Refer to Exhibit 82, Electronic Default Reporting Transmission Code List, for descriptions of the default action, default reason, property condition, occupancy status and associated codes. For detailed programming instructions, please refer to the Electronic Default Reporting (EDR) Quick Reference Guide, available at http://www.freddiemac.com/learn/pdfs/service/edr_quickref.pdf.

(b) Reports from Freddie Mac In response to a Servicer's monthly EDR transmission, Freddie Mac will make available, accessible via the "Default Reporting" tile of the Servicer's Servicer Performance Profile (SPP) (see Exhibit 88, Servicing Tools), the following reports. The Servicer must retrieve these reports, review them and transmit any necessary information, as indicated below:

  • EDR Edit Errorsreport — One Business Day after transmitting EDR information, a Servicer must retrieve this report, which is available in the SPP, that will contain any exceptions and errors on the Mortgages that were reported. The Servicer must correct all exceptions/errors documented on the report and transmit the corrected data to Freddie Mac by the sixth Business Day after accessing the report. For additional information, Servicers may refer to the EDR Quick Reference Guide available at freddiemac.com/learn/pdfs/service/edr_quickref.pdf
  • EDR Loans Not Reported report— A Servicer must retrieve this report, which is available in the SPP, the morning of the fourth Business Day of the month. The report identifies any Mortgage that was reported as being 30 or more days delinquent during the prior month, but was omitted from the current month's EDR transmission and it was not reported as fully reinstated or paid off, that a foreclosure sale was held, or a workout option was completed. If the Mortgage is still delinquent, the Servicer must report the delinquent Mortgage by the sixth Business Day of the month. If the Servicer has not already reported a full reinstatement, payoff, foreclosure sale, or executed deed-in-lieu of foreclosure of the Mortgage, it must report the action to Freddie Mac (see Chapter 8303 or Sections 9203.6, 9209.8 and 9301.38 for these reporting requirements).
  • EDR Compliance Overviewreport — A Servicer must retrieve this report, which is available in the SPP, each day from the fourth through the 13th Business Day of each month. This report identifies the number of loans reported to Freddie Mac that are 30, 60 and 90 or more days delinquent for the current reporting cycle. The Servicer must review the transmission for accuracy. If the Servicer believes there are errors in the report, the Servicer must follow up with Freddie Mac by submitting corrections via the Freddie Mac Service Loans application (Default Loan Activity screen) no later than 5 p.m. Eastern time on the 13th Business Day of the month. The Servicer may also contact the EDR team (see Directory 5).