Freddie Mac: UCount is Here
December 7, 2020
Source: Freddie Mac
You want greater transparency and a simpler process when it comes to meeting your annual certification obligations and reporting changes in your organization, as required by our Single-Family Seller/Servicer Guide.
Now you have it! We’ve launched the Unified Counterparty Experience System® (UCountSM), a user-friendly platform where you’ll submit information you formerly provided through Guide Forms 16SF, Annual Eligibility Certification Report, 1107SF, Seller/Servicer Change Notification Form and the Annual Eligibility Website.
As announced in Guide Bulletin 2020-42Opens in a new window, we’ve replaced these forms and website to make reporting easier to fulfill. (Note: Guide Bulletin 2020-42Opens in a new window supersedes the UCount launch date originally communicated to you in Guide Bulletin 2020-33Opens in a new window.)
What do you get with UCount?
UCount simplifies the reporting process as it delivers:
• A single platform for submitting your reports, as required by the Guide – with no more forms to manage manually.
• A more intuitive user interface – With a whole new look and feel to the reports.
• Reduced data volume – We’ve cut down the number of questions in the Annual Certification Report, and we’ve modified some questions to provide greater clarity.
• Pre-population of data − Where feasible, UCount pre-populates your data to make it quicker and easier to complete your reports.
• Status tracking through a real-time progress bar − As you complete sections of the Annual Certification Report, you get greater transparency and better access to receipt and processing status.
How do you get started with UCount?
To help make your transition seamless, our Counterparty Credit Risk Management (CCRM) team is on hand to guide you in using UCount. The user IDs and passwords you used to process Forms 16SF and 1107SF are still valid with UCount, so no change is needed for access.
Use the new Change and Activity Report to inform us of organizational changes and activities as described in the Guide.
When do you transition to UCount?
UCount doesn’t change the timeframes for submitting your reports, as outlined in the applicable sections of the Guide. For your annual certification, you’ll transition to UCount at the end of your current fiscal year and use the new Annual Certification Report. If your fiscal year ends:
• Prior to or on August 31, 2020 – We’ll work with you for as seamless a transition as possible if you haven’t filed your Annual Certification Report by the December 7 UCount launch.
• On September 30 – You have 90 days from the UCount’s December 7 deployment to file your report.
• On October 31 – You’ll file your Annual Certification Report in UCount. You’ll have 90 days from UCount’s December 7 deployment to file your report.
• On November 30 – You’ll file your Annual Certification Report in UCount. Your filing due date will be extended by an additional week.
• On December 31 – You’ll file your Annual Certification Report in UCount. We’ll help you transition to the new system.