Case Study
Servicer Oversight Enhancement Project
Business Context
In late 2016, Freddie Mac began securitizing/selling Mortgage Backed Securities composed of Re-performing Loans (RPL) to transfer risk from taxpayers to private markets (a component of its Credit Risk Transfer (SCRT) program).
Since Freddie Mac maintained Guarantor oversight and audit rights for these deals, I was tasked with assessing its current servicer oversight capabilities, defining a future state and creating a plan to close the gap between current and required capabilities.
Since Freddie Mac maintained Guarantor oversight and audit rights for these deals, I was tasked with assessing its current servicer oversight capabilities, defining a future state and creating a plan to close the gap between current and required capabilities.
Approach
The project was broken up into two broad phases — Discovery and Solution Design.
Discovery
The Single-Family Portfolio Management team was the primary customer for this project, so my initial efforts were focused on completing a round of interviews and desktop research to understand (1) what data the team needed to manage the unique/increased risk associated with RPL servicer surveillance, (2) how that data was consumed/processed, (3) what actions that data could drive.
Discovery
The Single-Family Portfolio Management team was the primary customer for this project, so my initial efforts were focused on completing a round of interviews and desktop research to understand (1) what data the team needed to manage the unique/increased risk associated with RPL servicer surveillance, (2) how that data was consumed/processed, (3) what actions that data could drive.
Solution Design
Using the information gathered, I created a series of artifacts to document the current and future states, including business process models, a data dictionary, stakeholder map, preliminary requirements documentation and more. This served as a medium for subsequent conversation to refine the future-state vision to ensure (1) it met the stakeholder needs and (2) fit into existing technical architecture and was otherwise technically feasible and (3) complied with applicable governance standards (i.e. data governance).
Using the information gathered, I created a series of artifacts to document the current and future states, including business process models, a data dictionary, stakeholder map, preliminary requirements documentation and more. This served as a medium for subsequent conversation to refine the future-state vision to ensure (1) it met the stakeholder needs and (2) fit into existing technical architecture and was otherwise technically feasible and (3) complied with applicable governance standards (i.e. data governance).
Key Outcomes
- A vetted/socialized/approved plan and set of requirements for enhancing an existing servicer reporting application to collect and process +70 new data fields to support advanced servicer surveillance for RPLs and to support enhanced reporting and analytics.
- Development/delivery of a custom Shiny (a tool for developing custom analytical applications) servicer surveillance application to automate monthly servicing surveillance analytics tasks.
- A report covering the ancillary improvement opportunities uncovered through discovery interviews.
🤔 Want to hear more?
Use the link below to schedule a meeting.
new product development
customer discovery
APIs
Mobile App Development Project
Being able to go from a concept to a deployed app in 9 months is incredibly valuable in a changing market. Read about how we accomplished this with the finance app Keyz™️.
innovation
test automation
Testing Process Re-engineering Project
Learn how I was able to reduce an enterprise decision management team's application testing time by 30% with the the creation of an innovative test data management tool/process.