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HousingWire Daily
Cecelia Raine on Freddie Mac’s vision for servicing
Nov 12, 2024
Cecelia Raine, Vice President of Servicing Innovation and Engagement at Freddie Mac, shares insights on transforming mortgage servicing through technology. She discusses the shift from outdated systems to the innovative Resolve platform to better support homeowners. Raine highlights the importance of personalization in servicing and the need for strategic collaboration to meet emerging challenges. The conversation touches on enhancing borrower education and utilizing APIs for improved consumer communication, all aimed at fostering a more efficient and responsive experience.
29:54
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Quick takeaways
- Freddie Mac's transition from the outdated Workout Prospector platform to the Resolve system emphasizes the necessity for innovative, automated servicing tools.
- The incorporation of advanced technologies and a focus on customer choice aims to significantly enhance borrower experiences while improving operational efficiency for servicers.
Deep dives
Retirement of Legacy Platforms
The decision to retire the legacy platform Workout Prospector is driven by the need for innovation and modernization in servicing tools. The new platform, Resolve, aims to enhance the customer experience through increased automation and streamlining of processes. Users can expect significant improvements in managing foreclosures and assisting homeowners facing hardships effectively. This transition is crucial as outdated systems hinder responsiveness, and the introduction of Resolve marks a pivotal step in evolving Freddie Mac's servicing approach.
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