Freddie Mac says it has begun testing a new software program, Workout Prospector. The program is intended to help loan servicers determine strategies for dealing with borrowers who are in default.

Phil Comeau, Freddie's vice president for loss mitigation, said the pilot would be expanded next year.

The agency introduced the program at last week's mortgage servicing conference sponsored by the Mortgage Bankers Association.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.