![]() We will continue to monitor FMC through a review of their metrics and initiatives to ensure the platform is sustainable and continues to develop. In the relatively short time that FMC has been servicing loans they have developed and continue to invest in the infrastructure to manage the growing servicing portfolio. FMC moved from a proprietary loss mitigation workflow system to the TEMPO system.The customer service and collections team were combined into a single customer care group.FMC implemented call calibrations performed by servicing executive management.A new borrower-facing website was deployed with increased functionality.The president of residential servicing for FMC is now in an advisory role and the responsibility for the residential servicing division was moved under the president of correspondent lending, who was already managing servicing finance and strategic initiatives.12, 2019), the following changes and/or developments have occurred: Since our prior review (see " Servicer Evaluation: Freedom Mortgage Corp.," published Sept. However, only one of four audits scheduled for the first half of 2020 was completed. A sufficient framework for management of internal audits.A servicing controls group that manages loss mitigation, inline quality assurance, and quality control testing and.A sufficient vendor management program including a good attorney oversight program. ![]() ![]() Effective business continuity practices including housing operational functions in multiple locations.The significant increase in the portfolio over a short period with a relatively new platform, mitigated somewhat by the good use of a staffing model for staff preparation in advance of need and dedicated resources for call center coaching and one-on-one training.AVERAGE Residential Primary Servicer Ranking Affirmed Outlook Stable," published Feb. 3, 2021, we affirmed the rankings (please see " Freedom Mortgage Corp. (FMC) is AVERAGE as a residential mortgage loan primary servicer. S&P Global Ratings' ranking on Freedom Mortgage Corp. ![]()
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