Freddie Mac Sets September 2027 Deadline for Servicers to Move Default Reporting to Resolve

Freddie Mac told mortgage servicers on Monday, Oct. 12, that it will replace monthly default reporting with event-based reporting through its Resolve platform. In an insight article for its Single-Family customers, the company said that effective Sept. 27, 2027, all Electronic Default Reporting tool users must submit default reporting through Resolve.

Why this matters: Default reporting is how servicers tell Freddie Mac about borrowers who fall behind, including contact with the borrower, foreclosure and bankruptcy. Changing how and when that is reported means new systems work for servicers and their vendors, and the next technical milestone is Thursday, Oct. 15.

Image: Freddie Mac logo, shown to identify the company. Source: Wikimedia Commons, public-domain text logo; Freddie Mac trademark. Its use does not imply endorsement.

What changes

Today, Freddie Mac describes default reporting as retrospective and point-in-time. Under the new model, servicers will submit default events as they happen rather than reporting monthly. Freddie Mac listed three main features:

• Event-driven reporting, such as reaching the borrower, a foreclosure or a bankruptcy, as it occurs.
• Expanded loan data for each event. Freddie Mac said current EDR action and status codes will be retired.
• A choice of reporting through an application programming interface, a non-API business-to-business file transfer or the Resolve user interface.

Freddie Mac said the shift is meant to improve timeliness and accuracy and give both sides a near real-time view of delinquent loans. Those are the company's stated goals; results will depend on how servicers implement it.

The timeline

• Sept. 17, 2026: Default Event Reporting API information and a customer test environment were made available.
• Oct. 15, 2026: Default Event Status API information and its test environment are scheduled to be available.
• Nov. 16, 2026: The reporting API, file transfer option and status API are scheduled to go live.
• March 29, 2027: Reporting and status functions are scheduled to go live in the Resolve user interface.
• Sept. 27, 2027: All servicers must begin using Resolve for event-based default reporting.

Freddie Mac encouraged early adoption and pointed servicers to a Resolve product timeline and a default reporting data set guide.

What servicers should do now

Freddie Mac suggested servicers review workflows that rely on prior-month aggregation, inventory where events are captured in collections, loss mitigation, foreclosure and bankruptcy, evaluate API and user-interface options with vendors and subservicers, and identify policies that need updates.

What it means for homeowners

Borrowers will not need to do anything differently because of this change. It affects the information servicers send Freddie Mac behind the scenes. A homeowner who is behind on payments should still contact their servicer directly about assistance options.

The takeaway: Servicers have about 11 months before the requirement takes effect, but API go-live is set for Nov. 16, so planning and vendor work start now.