Fusion Servicing Director Event to update FHLMC mid-month cut-off date and cut over process (May 2019)

Fusion Servicing Director Event to update FHLMC mid-month cut-off date and cut over process (May 2019)

The Freddie Mac (FHLMC) Investor Reporting Change Initiative (IRCI) to convert Freddie Mac’s single-family investor reporting requirements to an industry standard and to update remittance cycles has a cut off period of May 2019.

If you service Freddie Mac loans, you need to run the cutover event, FHLMC Cutover Process (Event Manager > Investor Accounting > Repair Functions) on May 20th or 21st, after completing your cutoff processing and remittance to Freddie Mac.

Running the FHLMC Cutover Process event (delivered with the 18.3 release) will automatically update settings for mid-month cut-off date and the cutover process.

This Product Bulletin is posted to make you aware of the issue it describes so you can determine the steps or changes necessary to mitigate or avoid risk, ensure document compliance, or otherwise address the issue. This bulletin does not constitute legal advice. Any legal questions that your financial institution has should be directed to your compliance officer and legal counsel.

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000037786