Freddie Mac Launches Enhancements to Technology.(Federal Home Loan Mortgage Corp.)(Brief Article)

Freddie Mac formally unveiled an enhanced version of its investor accounting software and informally announced an upcoming pilot program to make its collections software available over the Internet with an open, shared database.

Freddie Mac's vice president for servicing and cash management operations, Phillip Comeau, said the secondary market giant is "developing technology to essentially allow the industry to move to a paperless technology environment."

Speaking to reporters at the MBA National Mortgage Servicing Conference, Mr. Comeau said Freddie Mac is preparing to pilot Internet-based access to its behavioral scoring collections system, Early Resolution, using an open database that will be managed by Computer Science Corp.

The system that is being piloted will allow servicers and their vendors to have event-driven workflow that links attorneys, credit companies, investors, insurers and other parties involved in collections and default management.

The goal is to automate traditionally paper-based processes, he said.

The system will give participants real time access to data and "enable the industry to very substantially ...