Loan Product Advisor Glossary

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# of Days

Definition: The number of days a specific assignment or assignment release transaction has remained unviewed. This field can also be used to find specific unviewed loans that were assigned or released within the last 14 days
Valid Values: Select 1 to 14 days from drop-down list
When Field Is Used: Optional
Field Location: Unviewed Assigned/Released Loans page

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Account Number

Definition: A unique identifier for the borrower's asset or liability
Valid Values: Alphanumeric characters
When Field Is Used: Optional. Collected on Form 65 in Sections VI (Assets and Liabilities)
Field Location: Loan Application Data page (Asset and Liability Detail pages)

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Additional Services/Service(s) Requested

Definition: Optional services available through Loan Product Advisor including: 

  • Merged Credit
  • Automated Underwriting Service (AUS)
  • Automated Underwriting with Reference Number
  • Reorder Credit Service

Valid Values:

  • Merged Credit - Select to request a merged credit report. If merged credit is requested, the credit reporting company (CRC) field must be entered and the applicable borrowers selected on the Borrower Setup subsection of the Loan File Setup page.  Reference number and technical affiliate identifier (name) are optional.

  • You may use a merged credit report requested either through or outside of Loan Product Advisor; however, you are encouraged to use the merged credit report requested through Loan Product Advisor. You must have a signed agreement for service with a CRC or affiliate prior to using this service. For more information, refer to the Credit Reporting Company and Technical Affiliates page at: http://www.freddiemac.com/loanadvisorsuite/loanproductadvisor/

  • Automated Underwriting - Select to request a Loan Product Advisor assessment only
  • Automated Underwriting with Reference Number - Select to request a Loan Product Advisor assessment using a Reference Number. Credit previously requested will be used in the assessment
  • Reorder Credit Service - Select to request new credit for a selected borrower

When Field Is Used: Optional on Request Services page and Display only on Loan Transactions page
Field Location: Loan Transactions page and Request Services page

(See Completing the Request Services Page for additional details)

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Adjustment Period (Months)

Definition: Number of months between interest rate increases for temporary subsidy buydown
Valid Values: Numeric (e.g., 12)
When Field Is Used: Required if loan includes a Temporary Subsidy Buydown
Field Location: Buydown page

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Alimony/Child Support

Definition: Borrower income received from alimony or child support

For more information, refer to Guide Section 5301.1 on stable monthly income

Valid Values: Numeric with two decimal places (e.g., 0000000.00 to 9999999.99)
When Field Is Used: Optional. Collected on Form 65 Section IV (Monthly Income)
Field Location: Loan Application Data page (Borrower Information section - Monthly Income Breakdown)

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Alimony Obligation

Definition: For FHA borrowers, the monthly amount of alimony the lender chooses to treat as a reduction in the borrower's monthly gross income, rather than as a debt obligation, per the Liabilities section of HUD Handbook 4000.1

Enter 0 if no alimony exists or if the obligation is included in Total Debt

Valid Values: Numeric with two decimal places (e.g., 1234.56)
When Field Is Used: Complete for FHA loans. Collected on Form 65 in Section VI (Assets and Liabilities)
Field Location: FHA page

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Alterations, Improvements, Repairs

Definition: The cost of alterations, improvements, repairs and rehabilitation to be made on the subject property.

For purchase transactions, include the cost of any alternations, improvements and repairs in the Purchase Price field for Loan Product Advisor to accurately determine the loan-to-value (LTV). For refinance transactions, enter the renovation costs in this field.

Valid Values: Numeric with two decimal places (e.g., 456.78)
When Field Is Used: Optional
Collected on Form 65 in Section VII (Details Of Transaction line b)
Field Location: Loan Application Data page section (Details of Transaction)

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Alternative First Name

Definition: An additional first name under which the borrower may have been granted credit
Valid Values: Alphanumeric characters
When Field Is Used: Optional
Field Location:
Loan Application Data page (Borrower Information section)

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Alternative Last Name

Definition: An additional last name under which the borrower may have been granted credit (e.g., maiden name)
Valid Values: Alphanumeric characters
When Field Is Used: Optional
Field Location:
Loan Application Data page (Borrower Information section)

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Alternative Middle Name

Definition: An additional middle name under which the borrower may have been granted credit (e.g., maiden name)
Valid Values: Alphanumeric characters
When Field Is Used: Optional
Field Location:
Loan Application Data page (Borrower Information section)

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Amortization Months

Definition: Term of the loan in months. For instance, if the loan is a 5/1 ARM, enter 360 in this field (30 years x 12 months)
Valid Values: Up to three-digit numeric. For example, if Amortization Type is equal to Adjustable Rate Mortgage (ARM), the lowest value for Amortization Months is 180 (15 years). If Amortization Type is equal to Fixed, the lowest value for Amortization Months is 120 (10 years)
When Field Is Used: Required. Collected on Form 65 in Section I (Type of Mortgage and Terms of Loan)
Field Location:
Loan Application Data page (Mortgage Type and Loan Terms section)

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Amortization Type

Definition: Indicates whether the interest rate payable under the Note is subject to change over the life of the loan
Valid Values:

  • Fixed Rate - interest rate will not change
  • ARM - interest rate may change on a specified basis

When Field Is Used: Required. Collected on Form 65 in Section I (Type of Mortgage and Terms of Loan)
Field Location: Loan Application Data page (Mortgage Type and Loan Terms section)

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Amount Existing Liens

Definition: Outstanding balance of the mortgage(s) to be paid off by this loan, including second trusts and home equity lines of credit, recorded against the subject property, or land if a Construction Conversion Mortgage and no improvements exist

For example, if the borrower's current first mortgage has an unpaid principal balance of $90,000, and the current second mortgage on the same property has an unpaid principal balance of $10,000, enter 100,000 in this field

Valid Values: Numeric with two decimal places (e.g., 123456.78)
When Field Is Used: Required if loan is a refinance. Collected on Form 65 in Section II (Property Information And Purpose Of Loan)
Field Location: Refinance page

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Amount of Mortgages and Liens

Definition: Total of all mortgages and liens secured by the individual property referenced in Real Estate Owned section in which the borrower has an ownership interest and/or for which the borrower is obligated
Valid Values: Numeric with two decimal places (e.g., 123456.78)
When Field Is Used:
Optional. Collected on Form 65 in Section VI (Assets and Liabilities - Schedule of Real Estate Owned)
Field Location: Loan Application Data page (Liabilities and Real Estate Owned (REO) section, Liabilities and REO Breakdown - Real Estate Owned Details page)

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Appraisal Identifier

Definition: The unique identifier assigned by the Uniform Collateral Data Portal® (UCDP®) to the appraisal data delivered to the UCDP for the subject mortgage.

The Appraisal Identifier is also known as Document File Identifier, or Doc File ID in the UCDP.

This identifier is assigned to one or a set of appraisal data files associated with a given property and indicates the appraisal data file was uploaded to the UCDP. The identifier does not change if you upload an updated appraisal for the subject property.

Valid Values: Alphanumeric, not to exceed 10 characters.
When Field Is Used: Optional.

  • This field must remain blank for Loan Product Advisor’s automated collateral evaluation capability to determine eligibility for collateral representation and warranty relief related to value, condition and marketability with an appraisal waiver.
  • If an appraisal is required and eligible for collateral representation and warranty relief, complete this field to receive notification of the loan’s eligibility for collateral representation and warranty relief with an appraisal.


Field Location: Loan Application Data page (Property Information section)

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Appraisal Type/MAF

Definition: Indicates the type of appraisal report required to meet Freddie Mac's purchase guidelines. If the loan is eligible for an appraisal waiver, the field indicates No Appraisal MAF.
When Field Is Used: Display only
Field Location: Full Feedback Certificate

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Appraised Value of Property

Definition: A statement of the property's value from a valid property valuation source
Valid Values: Numeric with two decimal places and value greater than zero (e.g., 123456.78)
When Field Is Used: Required if the loan is not eligible for an appraisal waiver and any of the following:

  • Refinance
  • Loan Processing Stage is beyond Prequalification
  • Estimated Value of Property is '0' or blank

Field Location: Loan Application Data page (Property Information section)

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Are there any outstanding judgments against the borrower?

Definition: Borrowers answer to the question: Are there any outstanding judgments against you?
Valid Values:

  • Yes - there are outstanding judgments
  • No - there are not outstanding judgments

When Field Is Used: Optional. Collected on Form 65 in Section VIII (Declarations - line a)
Field Location: Loan Application Data page (Declarations section)

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ARM Adjustment Type

Definition: Indicates the type of adjustable rate mortgage (ARM) adjustment product

Valid Values:
  • Payment - loan is a payment-capped ARM
  • Rate - loan is a rate-capped ARM

When Field Is Used: Required if the loan is an ARM
Field Location: Adjustable Rate Mortgage page

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ARM Initial Adjustment Period

Definition: For adjustable rate mortgages (ARMs), the number of months from the Note Date until the first interest change date. Refer to Guide Section 4401.5 for more information.

If the loan adjusts after one year, the new Principal, Interest, Taxes and Insurance (PITI) needs to be entered in the ARM Qualifying PITI field on the ARM Loan page

Valid Values: Numeric. For example, if the loan adjusts after one year, enter 12 to represent 12 months; after three years, enter 36 to represent 36 months; after five years, enter 60 to represent 60 months
When Field Is Used: Required if an adjustable rate mortgage
Field Location: Adjustable Rate Mortgage page

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ARM Qualifying PITI

Definition: For adjustable rate mortgage (ARM) products, this is the monthly housing expense based on the interest rate that must be used for qualifying the borrower. Refer to Guide Section 4401.8 for information on qualifying the borrower based on the ARM type. Apply the guidelines set out in Guide Sections 5401.1 and 5401.2 to calculate the borrower's housing expense-to-income ratio and the debt payment-to-income ratio.

The same items listed under Proposed Housing (PITI) need to be included in this calculation. The following items are components of ARM Qualifying PITI:

  • Principal and interest (using the ARM qualifying interest rate)
  • Real estate taxes
  • Property hazard insurance premiums
  • When applicable:
    • Mortgage insurance premiums
    • Homeowner's association dues, excluding unit utility charges
    • Leasehold payments
    • Payments on secondary financing (for Affordable Seconds, include if payments begin within five years of the subject mortgage)

For FHA and VA Mortgages, refer to the Total Mortgage Scorecard User Guide and VA Lender's Handbook, respectively, for a complete list of included expenses.

Valid Values: Numeric with four decimal places (e.g., 1234.5678)
When Field Is Used: Required if loan is an adjustable rate mortgage
Field Location: Adjustable Rate Mortgage page

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ARM Qualifying Rate

Definition: The interest rate used in calculating the borrower's PITI to qualify the borrower for the subject property mortgage as indicated in Guide Section 4401.8.

Valid Values: Numeric with four decimal places (e.g., 2.8750)
When Field Is Used: Required if an adjustable rate mortgage
Field Location: Adjustable Rate Mortgage page

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ARM Subsequent Adjustment Period

Definition: Number of months between subsequent rate or payment adjustments after the first initial change date. Refer to Guide Section 4401.5 for more information.

Valid Values: Numeric. For example, if the ARM Initial Adjustment Period is 36 months and subsequent adjustments occur every year, enter 12 to represent 12 months
When Field Is Used: Required if an adjustable rate mortgage
Field Location: Adjustable Rate Mortgage page

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Asset Amount

Definition: Total dollar value of a given asset category for all borrower(s)

Generally, use liquid assets or financial assets (that may be used for the down payment, closing costs, and reserves) when recording an asset amount which can/will be documented. Also see Asset Category

Valid Values: Numeric with two decimal places (e.g., 0000000.00 to 9999999.99)
When Field Is Used: Required with each asset type. Collected on Form 65 Section VI (Assets and Liabilities)
Field Location: Loan Application Data page (Assets and Reserves section)

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Asset Category

Definition: Summary-level name given to an asset to distinguish it from other types of assets

Each asset category can be selected once and should contain the total asset values across all borrowers for that specific asset category

Valid Values:

  • Depository Accounts - Funds that are in a checking, savings, money market or certificate of deposit account.  Earnest money deposits are recorded in this field. In this category, do not include any gift funds. They will be recorded in the Total Gift Fund field
  • Net Proceeds from Sale of Home (actual or estimated) - Funds from the sale of a home, minus selling costs
  • Retirement Accounts (IRA, 401(k)) - Funds in accounts directed at retirement savings
  • Stocks and Bonds - Funds that are invested in stocks, bonds, or mutual funds that are not designated as retirement accounts
  • Life Insurance Net Cash Value - Funds that would be available to the borrower with a loan against the life insurance policy or if the life insurance policy were cashed in
  • Other - Funds not included in the above asset categories

When Field Is Used: Optional
Field Location: Loan Application Data page (Assets and Reserves section)

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Asset Holder Name

Definition: The name of the asset holder for the referenced asset
Valid Values: Up to 35 alphanumeric characters
When Field Is Used: Optional. Collected on Form 65 in Section VI (Assets and Liabilities)
Field Location: Loan Application Data page (Asset and Reserves section - Asset Detail pages)

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Asset Identifier

Definition: Used by Loan Product Advisor to identify the specific type of asset
Valid Values: Alphanumeric characters
When Field Is Used: Optional. Collected on Form 65 in Section VI (Assets and Liabilities)
Field Location: Loan Application Data page (Asset and Reserves section - Asset Detail pages)

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Asset Type

Definition: Specifies the general names (type) of items commonly listed as financial assets of the borrower(s) in a mortgage loan transaction. Assets may be either liquid or fixed and are associated with a corresponding asset amount

Enter and verify, at a minimum, the assets the borrower will be using for closing and reserves

Valid Values:

  • Automobile - Car or similar personal transportation disclosed as borrower's asset. Usually linked to make or model and year. Collected on Form 65 in Section VI (Assets and Liabilities)
  • Loan Product Advisor does not include Automobile in the Total Eligible Assets calculation (returned on the Feedback Certificate)   

  • Bond - An interest-bearing certificate of debt with a maturity date. An obligation of issuing entity. Typical valuation is face value (e.g., $1,000 denomination) and market (e.g., value of 4% bond when yields are 6%). Collected on Form 65 in Section VI (Assets - Stocks & Bonds)
  • Bridge Loan Not Deposited - Proceeds of a loan (secured by borrower's present home) to provide borrower with funds for down payment and closing costs on a new home before selling present home. Enter when funds have not yet been deposited to borrower's accounts or included with other assets disclosed. Collected on Form 65 in Section VI (Assets - Other Assets)
  • Cash Deposit Towards Purchase - Deposit made to bind the conditions of a real estate sale. If using cash deposit as liquid asset, you must ensure it is verified (i.e., the check is "cleared" prior to obtaining verification or a copy of the account statement). Collected on Form 65 in Section VI (Assets - Cash Deposit)
  • Loan Product Advisor includes the Cash On Hand in the Total Eligible Assets calculation (returned on the Feedback Certificate) for Home Possible® Mortgages only.    

  • Cash On Hand - Currency physically possessed by borrower, not deposited in any financial institution, and considered liquid. Acceptable for Home Possible mortgages, as described in Guide Chapter 4501. Collected on Form 65 in Section VI (Assets - Other Assets)
  • Certificate of Deposit / Time Deposit - Certificates issued by financial institutions with a stated term or interest rate, and with a set maturity date. The bank pays the holder in due course at maturity. Early withdrawal subject to penalty. Considered liquid. Collected on Form 65 in Section VI (Assets)
  • Checking Account - Transaction account with a financial institution. Accounts purpose is to effect transfer of owners funds to others by various methods (e.g., check, EFT, ACH, draft). Technical name is demand deposit account. Considered liquid. Collected on Form 65 in Section VI (Assets - Checking Account)
  • Gift - Money given as gift (no repayment expected) to borrower(s) to assist in home purchase. The total gift amount to be utilized in the transaction includes both funds deposited in borrower accounts and those not yet deposited. Collected on Form 65 in Section VI (Assets)

    Do not include gifts already included in another asset type

    For FHA Financing – enter the source(s) of down payment/gift donor and gift amounts in Loan Product Advisor on the FHA page. If there are multiple gifts, select the gift donor for each individual gift under Source of Down Payment/Gift and enter the dollar amount of each gift in the Gift Amount on the FHA page

  • Loan Product Advisor includes the Gift Amount in the Total Eligible Assets calculation (returned on the Feedback Certificate) for Primary Residences and Second Homes only

  • Life Insurance - A life insurance policy with a value or investment component, or accumulated investment cash value, net of any loans against that amount. Detail of amounts for each policy collected on Form 65 in Section VI (Assets - Life Insurance Net Cash Value)
  • Money Market Fund - Fund that allows individuals to participate in managed investments in short-term debt securities, such as certificates of deposit and Treasury bills. Considered liquid. Collected on Form 65 in Section VI (Assets)
  • Mutual Fund - Financial entity that invests its shareholders funds in stocks and bonds of other entities with the objective of obtaining a return on its shareholder's investment. Collected on Form 65 in Section VI (Assets - Stocks & Bonds)
  • Net Equity - Sale of Real Estate - Estimated net cash proceeds (sales price - obligations) from anticipated sale of borrower's real estate assets
  • Net Worth of Business Owned - For a business owned by borrower, the amount resulting from calculated assets minus liabilities. Collected on Form 65 in Section VI (Assets - Net Worth of Business)
  • Loan Product Advisor does not include Net Worth of Business Owned in the Total Eligible Assets calculation (returned on the Feedback Certificate)   

  • Other Liquid Assets - General category to disclose detail of other borrower assets that have a ready market value where a quick sale would yield the amount disclosed (e.g., commodity contract, certain currencies or coins). Collected on Form 65 in Section VI (Assets - Other Assets)
  • Other Non-Liquid Assets - General category to disclose detail of other borrower assets that have little ready market value (e.g., statues). Collected on Form 65 in Section VI (Assets - Other Assets)
  • Loan Product Advisor does not include Other Non-Liquid Assets in the Total Eligible Assets calculation (returned on the Feedback Certificate)   

  • Retirement Fund - 401K, IRA, or other retirement fund controlled by the borrower. Fund is vested and valued at market value. Collected on Form 65 in Section VI (Assets - vested interest in retirement fund)
  • Savings Account - Interest-bearing account with a financial institution. Considered liquid. Collected on Form 65 in Section VI (Assets - Savings Account)
  • Secured Borrowed Funds Not Deposited - Proceeds from a loan secured by borrower's assets, which proceeds have not yet been deposited to borrower's accounts or included with other assets disclosed. Considered liquid. Collected on Form 65 in Section VI (Assets - Other Assets)
  • Stock - Financial instrument evidencing an ownership interest in entity that issues stock. Typical valuation method is Market Value. Collected on Form 65 in Section VI (Assets - Stocks & Bonds)
  • Trust Account - Fiduciary relationship where legal title to a property is transferred to a trustee with the intention the property be administered by the trustee for benefit of the beneficiary, who holds equitable title to such property. Collected on Form 65 in Section VI (Assets - Other Assets)

If Assets are being reported jointly, select the name of the borrower associated with those assets on the Asset Breakdown page

When Field Is Used: Optional
Field Location: Loan Application Data page (Assets and Reserves section - Asset Breakdown page)

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Assigned MSP

Definition: The mortgage service provider (MSP) selected for loan data assignment
When Field Is Used: Display only
Field Location: Assignment Log page, Unviewed Assigned/Released Loans page

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Assigned Wholesaler

Definition: The wholesaler assigned to the loan
When Field Is Used: Display only
Field Location: Assignment Log page

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Assigned/Released By

Definition: The organization that assigned or released the loan data
When Field Is Used: Display only
Field Location: Assignment Log page, Unviewed Assigned/Released Loans page

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Assigned/Released To

Definition: The organization that receives the loan data through assignment or release
When Field Is Used: Display only
Field Location: Assignment Log page, Unviewed Assigned/Released Loans page

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Assignment

Definition: Task of giving another person or company access to a loan. This task can be performed by brokers or lenders

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Assignment Status

Definition: Indicates the assigned or released status for a specific loan transaction

Possible values returned are:

  • Final Assignment - Assignor (usually a broker) has selected a wholesaler or wholesaler/MSP pair to receive Modify capability on the current loan transaction. The assignor's Modify capability is changed to View capability for the current and subsequent loan transactions
  • Initial Assignment - Assignor (usually a broker) has selected a wholesaler to receive View capability on the loan data. Assignor retains Modify access to the loan data
  • MSP Assignment - Assignor (lender) has selected a mortgage service provider (MSP) to share Modify capability on the loan data
  • Full Release - Final Assigned wholesaler or MSP has relinquished the ability to View or Modify the loan data. Assignor (usually a broker) receives the loan data as originally assigned and can assign to another wholesaler or wholesaler/MSP pair
  • Modify Release - Final Assigned wholesaler or MSP has returned Modify capability of current loan transaction to the assignor, but maintains the ability to View the loan data. The assignor can only reassign to the releasing wholesaler or wholesaler/MSP pair

When Field Is Used: Display only
Field Location: Assignment Log page, Unviewed Assigned/Released Loans page

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AUS Status

Definition: Indicates if the data received for a loan application was adequate for Loan Product Advisor risk assessment

The four possible values returned are:

  • Complete - Indicates a loan has been assessed by Loan Product Advisor and a Freddie Mac loan purchase, FHA insurance, or VA guaranty assessment has been completed
  • Invalid - Indicates required loan data is either incorrect or missing
  • Ineligible - Indicates a loan cannot be assessed for reasons such as more than five borrowers, loan-to-value greater than 95 percent (for a conventional loan), and/or multifamily housing of five or more units.  An Ineligible status does not indicate a loan is ineligible for delivery to Freddie Mac, FHA, or VA
  • Incomplete - Indicates that Loan Product Advisor was unable to acquire necessary credit data to perform the assessment

If the loan receives an Invalid, Ineligible, or Incomplete value, review the messages on the Full Feedback Certificate for indications regarding the AUS Status.

When Field Is Used: Display only
Field Location: Loan Transactions page and Results pages

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AUS Transaction Number

Definition: A unique number assigned to a loan by Loan Product Advisor each time the loan is submitted for assessment. Use this number to identify the transaction when you contact Freddie Mac Customer Service
Valid Values: Eight alphanumeric characters (e.g., 01456757)
When Field Is Used: Display only
Field Location: Assign Loan page, Assignment Log page, Loan Prospector Main page (Find and Modify Existing Loans section) page, Loan Transactions page, Select Loan page, Unviewed Results page, Doc Checklist, Full Feedback Certificate, and Property Valuation Disclosure Form for Loan Product Advisor

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Automobile/Expense Account

Definition: Used to capture other types of stable monthly income not listed

For more information, refer to Guide Section 5301.1 on stable monthly income
Valid Values: Numeric with two decimal places (e.g., 0000000.00 to 9999999.99)
When Field Is Used: Optional. Collected on Form 65 in Section IV (Monthly Income - Other)
Field Location: Loan Application Data page (Employment Income section - Monthly Income Breakdown)

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Balloon Term

Definition: Month at which the balloon payment occurs

Effective for Mortgages with Settlement Dates on or after January 1, 2013, Freddie Mac will no longer purchase Balloon/Reset Mortgages

For instance, if the loan balloons after seven years, enter 84 in this field (7 years x 12 months). For non-balloon loans, leave this field blank

Valid Values: Numeric. For example, if a 7-year balloon, enter 84; if a 5-year balloon, enter 60
When Field Is Used: Required if the loan contains a balloon payment
Field Location: Loan Application Data page (Mortgage Type and Loan Terms section)

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Base Employment Income

Definition: Borrower's employed and/or self-employed gross monthly income from all acceptable and verifiable sources that can reasonably be expected to continue for at least the next three years

For conventional loans, the borrower's stable monthly income must be entered in the Monthly Income Breakdown section. For self-employment income to be considered for qualification purposes, enter the self-employment income on the Monthly Income Breakdown page, preferably in the Base Employment Income field. To receive feedback specific to documenting self-employment income, check the self-employed indicator on the Add Borrower Employment Details page.

For more information, refer to Guide Section 5301.1 on stable monthly income

Valid Values: Numeric with two decimal places (e.g., -9999999.99 to 9999999.99)
When Field Is Used: Optional. Collected on Form 65 in Section VII (Monthly Income - Base)
Field Location: Loan Application Data page (Employment Information section - Monthly Income Breakdown)

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Base Loan Amount

Definition: Amount to be financed by the borrower excluding financed PMI, MIP or Funding Fee financed
Valid Values: Numeric with two decimal places (e.g., 123456.78)
When Field Is Used: Required. Collected on Form 65 in Section VII (Details of Transaction - line m)
Field Location: Loan Application Data page (Mortgage Type and Loan Terms section)

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Base Pay

Definition: Monthly military income for the borrower

For more information, refer to Guide Section 5301.1 on stable monthly income
Valid Values: Numeric with two decimal places (e.g., 0000000.00 to 9999999.99)
When Field Is Used: Optional. Collected on Form 65 in Section IV (Monthly Income)
Field Location: Loan Application Data page (Employment Income section - Monthly Income Breakdown)

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Bonuses

Definition: The income derived from optional compensation paid out by the employer that is linked to the employers overall performance and/or individual employee performance

For more information, refer to Guide Section 5301.1 on stable monthly income

Valid Values: Numeric with two decimal places (e.g., 0000000.00 to 9999999.99)
When Field Is Used: Optional. Collected on Form 65 in Section IV (Monthly Income - Bonuses)
Field Location: Loan Application Data page (Employment Information section - Monthly Income Breakdown)

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Borrower First Name

Definition: First name of borrower on loan application
Valid Values: Alphanumeric characters
When Field Is Used: Required on Loan File Setup page and Loan Application Data page. Collected on Form 65 in Section III (Borrower Information)
Field Location: Loan File Setup page, and Loan Application Data page (Borrower Information) page

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Borrower Last Name

Definition: Last name of borrower on loan application

If using Find Loans and you search by the last name, be sure to enter the exact last name to find the loan. You may see multiple results if there is more than one borrower with the same last name

Valid Values: Alphanumeric characters
When Field Is Used: Required on Loan File Setup page and Loan Application Data page. Collected on Form 65 in Section III (Borrower Information)
Field Location: Loan Product Advisor Main page (Find and Modify Existing Loans section), Loan File Setup page, and Loan Application Data page (Borrower Information) page

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Borrower Name

Definition: First and last names of each borrower on the loan

Loan Prospector can assess up to 5 borrowers. You may add or subtract borrowers as long as one original borrower remains on the assessment request

  • If you initiated a search using the Borrower Name field, this field displays the name of the borrower specified
  • If you initiated a search using criteria other than the Borrower Name fields, this field displays the name of the first borrower listed on the loan application
  • On the Assign Loan page, this field displays the name of the first borrower listed on the loan application

When Field Is Used: Display only
Field Location: Assign Loan page, Loan Transactions page, Select Loan page, Unviewed Results page

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Borrower's Closing Costs Paid By Seller

Definition: The estimated closing costs that the seller of the subject property will pay
Valid Values: Numeric with two decimal places (e.g., 1456.78)
When Field Is Used: Optional. Collected on Form 65 in Section VII (Details of Transaction - line k)
Field Location: Loan Application Data page (Details of Transaction section)

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Branch Number

Definition: The lender's branch identification code for the branch associated with the loan

Your Merged Credit provider may require the use of a Branch Number to allow Loan Product Advisor to successfully reissue credit. Please contact your credit reporting company (CRC) for more information

Loan Product Advisor does not validate. Change this field if you assign to a different Seller/MSP requiring a different branch number

Valid Values: Four alphanumeric characters (e.g., B013). If no branch number has been assigned, leave this field blank
When Field Is Used: Required if your CRC is a Technical Affiliate of Equifax Mortgage Solutions
Field Location: Loan File Setup page and Loan Product Advisor Main (Find and Modify Existing Loans section) page

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Broker/TPO Name

Definition: Name of the broker's company
Field Location: Loan File Setup page

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Broker/TPO Number

Definition: Freddie Mac-assigned Third-Party Originator (TPO) number for TPOs (e.g., brokers) accessing Loan Product Advisor directly
When Field Is Used:
Automatically populated by Loan Product Advisor
Field Location: User Profile and Loan Product Advisor Main page (Find and Modify Existing Loans section)

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Building Status

Definition: Physical status of the structure

Valid Values:

  • Existing - The subject property is existing construction and has been occupied as a residence (Default value)
  • Proposed - Construction of the subject property has not been started
  • Substantially Rehabilitated - The subject property is undergoing (or within the last year completed) substantial rehabilitation
  • Under Construction - The subject property is currently under construction, or construction has been completed but the property has not yet been occupied as a residence
  • Alteration, Improvements, Repair - The subject property is undergoing (or within the last year completed) alteration, improvements or repair

Building status is important to ensure correct Minimum Assessment Feedback

When Field Is Used: Required if loan is beyond prequalification (See Loan Processing Stage)
Field Location: Loan Application Data page (Property Information section)

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Business Phone (Employer)

Definition: Telephone number of the current, secondary, or previous employer
Valid Values: 10-digit numeric (e.g., 7032223333)
When Field Is Used:
Optional. Collected on Form 65 in Section IV (Employment Information)
Field Location:
Loan Application Data page (Employment Information section - Employment Details page)

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Buydown Term (months)

Definition: Total number of months over which the buydown applies
Valid Values: Numeric. For example, if the interest rate changes over a period of two years, enter 24 in this field
When Field Is Used: Required if loan includes a Temporary Subsidy Buydown
Field Location:
Buydown page

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Buyer Closing Costs

Definition: Dollar amount of net closing costs paid by the borrower on the subject property excluding discount points, prepaid items and interested party contributions. Identifies buyer-paid closing costs that will be counted toward the Minimum Required Investment

For FHA purchase transactions, the Minimum Required Investment is 3.5% of the sales prices, and does not include any financed buyer-paid closing costs. For refinance transaction, there is no Minimum Required Investment

Seller-paid closing costs (interested party contributions from Seller, lender and other parties to the transaction towards buyer's closing costs) should be excluded from this field and are subject to the limitations set forth in HUD Handbook 4000.1

Valid Values: Numeric with two decimal places (e.g., 1456.78). Populate from line 5C on HUD 92900 WS/PUR
When Field Is Used: Required for FHA loans
Field Location: FHA page

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C

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Cash or Market Value

Definition: The dollar amount of the cash or market value of the borrower's applicable asset type

The market value is the price at which an asset is transferred between a willing buyer and a willing seller, each of whom has a reasonable knowledge of all pertinent facts and neither being under any obligation to buy or sell. Market value and cash value tend to be equal

Valid Values: Numeric with two decimal places (e.g., 123456.78)
When Field Is Used: Optional. Collected on Form 65 in section VI (Assets and Liabilities)
Field Location: Loan Application Data page (Asset and Reserves section - Asset Details pages)

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Cash Out Amount

Definition: The cash out amount for a refinance mortgage is the amount of the proceeds that:

  • Exceeds the total of the money needed to repay the existing first mortgage, closing cost, financing cost, prepaid items,
    and
  • Is disbursed to the borrower (or any other payee) as cash
    or
  • Satisfies any outstanding junior liens where their entirety was not used to acquire the subject property,
    or
  • Places a mortgage on a property previously owned free and clear by the borrower

Valid Values: Numeric with two decimal places (e.g., 123456.78)
When Field Is Used: Required if cash-out refinance mortgage. Optional for no cash-out refinance mortgage
Field Location: Refinance page

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City
(For: Asset or Liability Holder, Employment, Former Address, Interview, Mailing Address, Present Address, Property, Real Estate Owned (REO))

Definition:

  • Asset or Liability - The city in which the asset or liability holder is located
  • Employment - The city in which the current, secondary, or previous employer is located
  • Former - The city in which the borrower previously resided
  • Interview - The city of the interviewer's employer
  • Mailing - The city to be used for mailing, if mailing address is different from borrower's Present Address
  • Present - The city in which the borrower currently resides. This field defaults to the property address if the loan is a refinance and Intended Use of Property is Primary Residence
  • Property - The city in which the subject property is located
  • REO - A city in which the property referenced in Real Estate Owned is located

Valid Values: Alphanumeric characters. Do not use any punctuation when entering address information

For foreign addresses, Present Address must be less than 2 years, and enter a CITY, but not a STATE, or ZIP code

When Field Is Used:

  • Asset or Liability - Optional. Collected on Form 65 in Section VI (Asset and Liabilities)
  • Employment - Optional. Collected on Form 65 in Section IV (Employment Information)
  • Former - Required. Collected on Form 65 in Section III (Borrower Information)
  • Interview - Optional. Collected on Form 65 in Section X (Information for Government Monitoring Purposes)
  • Mailing - Optional. To be used if Mailing Address is different from borrower's Present Address
  • Present - Required. Collected on Form 65 in Section III (Borrower Information)
  •  Property - Required if beyond the point of prequalification. Collected on Form 65 in Section II (Property Information and Purpose of Loan)
  • REO - Optional. Collected on Form 65 in Section VI (Assets and Liabilities - Schedule of Real Estate Owned)

Field Location:

  • Asset or Liability - Loan Application Data page (Applicable Asset Detail and Liability Detail pages)
  • Employment - Loan Application Data page (Employment Details page)
  • Former - Loan Application Data page (Borrower Information section)
  • Interview - Loan Application Data page (Interview Details page)
  • Mailing - Loan Application Data page (Borrower Information section)
  • Present - Loan Application Data page (Borrower Information section)
  • Subject Property - Loan Application Data page (Property Information section)
  • REO - Loan Application Data page (Liabilities and Real Estate Owned section - Real Estate Owned Details)

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Clothing Allowance

Definition: Monthly military income for the borrower

For more information, refer to Guide Section 5301.1 on stable monthly income
Valid Values: Numeric with two decimal places (e.g., 0000000.00 to 9999999.99)
When Field Is Used: Optional. Collected on Form 65 in Section IV (Monthly Income)
Field Location: Loan Application Data page (Employment Income section - Monthly Income Breakdown)

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Collateral Representation and Warranty Relief (Collateral Rep & Warranty Relief)

Definition: The indication of eligibility for representation and warranty relief on the property.
Valid Values:

  • Eligible
  • Not Eligible
  • Unavailable - Loan cannot be assessed for collateral representation and warranty relief. Returned when there is a system-related issue, or a Loan Product Advisor Version other than S4.3.00 was used to assess the loan.
When Field Is Used: Display only
Field Location: Full Feedback Certificate

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Combat Pay

Definition: Monthly military income for the borrower

For more information, refer to Guide Section 5301.1 on stable monthly income
Valid Values: Numeric with two decimal places (e.g., 0000000.00 to 9999999.99)
When Field Is Used: Optional. Collected on Form 65 in Section IV (Monthly Income)
Field Location: Loan Application Data page (Employment Income section - Monthly Income Breakdown)

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Commissions

Definition: Borrower income that is based upon a percentage of the goods or services the borrower sells
Valid Values: Numeric with two decimal places (e.g., 0000000.00 to 9999999.99)
When Field Is Used: Optional. Collected on Form 65 in Section IV (Monthly Income - Commissions)

For more information, refer to Guide Section 5301.1 on stable monthly income

Field Location: Loan Application Data page (Employment Information section - Monthly Income Breakdown)

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Contributor

Definition: Specifies the source of the temporary subsidy buydown funds
Valid Values:

  • Seller
  • Builder
  • Borrower
  • Lender
  • Unassigned
  • Gift (Parent, Non-Parent Relative, Unrelated Friend)
  • Employer

When Field Is Used: Required if loan includes a Temporary Subsidy Buydown
Field Location: Buydown page

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Cost of Improvements

Definition: The total cost of any improvements to be made on the subject property
Valid Values: Numeric with two decimal places (e.g., 123456.78)
When Field Is Used:
Optional. Collected on the URLA in Section II (b) (Cost of Improvements for construction loans)
Field Location: Refinance page

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Cost of Land

Definition: The estimated present value of the land if acquired separately
Valid Values: Numeric with two decimal places (e.g., 123456.78)
When Field Is Used:
Optional. Collected on Form 65 in Section II (Property Information and Purpose of Loan)
Field Location: Loan Application Data page (Details of Transaction section)

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Counselor Name

Definition: The name of the counseling agency that generated the client file.
When Field Is Used: Display only
Field Location: Client File Setup page

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Country
(Former Address, Mailing Address)

Definition: Country in which the borrower previously lived (former address), or country to be used for mailing
Valid Values:

Select other if country is not listed

Present Address less than 2 years, and enter a CITY, but not a STATE, or ZIP code

  • Argentina
  • Bangladesh
  • Brazil
  • Burma (Myanmar)
  • Canada
  • China
  • Congo, Dem Rep of the
  • Egypt
  • El Salvador
  • Ethiopia
  • France
  • Germany
  • Honduras
  • India
  • Indonesia
  • Iran
  • Italy
  • Japan
  • Mexico
  • Nigeria
  • Other
  • Pakistan
  • Peru
  • Philippines
  • Russia
  • Spain
  • Thailand
  • Turkey
  • Ukraine
  • United Kingdom
  • United States
  • Vietnam

When Field Is Used:

  • Former: Required if time at present address is less than two years. Collected on Form 65 in Section III (Borrower Information)
  • Mailing: Optional. To be used if mailing address is different from borrower's Present Address

Field Location: Loan Application Data page (Borrower Information section)

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County
(Subject Property)

Definition: Name of the county in which the subject property being financed is located

On FHA loans, the property county name is used to determine the maximum mortgage limit. If the county name is misspelled and a match cannot be made, the lowest maximum mortgage limit will be returned

Valid Values: Up to 20 alphanumeric characters
When Field Is Used: Required if:

Field Location: Loan Application Data page (Property Information section)

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Credit Fees in Price Matrix

Definition: Matrix containing standard credit fees in price information for loans with certain attributes as indicated in the Guide Exhibit 19, Credit Fees in Price. Credit fees in price are cumulative. Brokers should consult their lenders regarding any negotiated fees. Access Exhibit 19 via AllRegs® or the Credit Fees in Price/Exhibit 19 link on Freddie Mac’s Single-Family homepage.

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Credit Score

Definition: A computer-generated number, based on a statistical model, that summarizes an individual's credit record and predicts the likelihood that a borrower will repay future obligations
When Field Is Used: Display only
Field Location: Result pages

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CS/LTV Fee Level

Definition: A credit fee in price based on credit score and loan-to-value (LTV) as identified on Exhibit 19 and paid in accordance with the provisions in Chapter 6303 of the Guide
When Field Is Used:
Display only
Field Location:
Full Feedback Certificate, Doc Checklist

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Current Residence?

Definition: Indicates whether or not a property referenced in Real Estate Owned, in which the borrower has an ownership interest and/or for which the borrower is obligated, is the borrower's current residence
Valid Values:

  • Yes - the property referenced is the borrower's current residence
  • No - the property referenced is not the borrower's current residence

When Field Is Used: Required if liability reported as Mortgage or HELOC. Collected on Form 65 in Section VI (Assets and Liabilities - Schedule of Real Estate Owned)
Field Location: Loan Application Data page (Liabilities and Real Estate Owned (REO) section, Liabilities and REO Breakdown - Real Estate Owned Details page)

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D

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Date & Time
(Assigned, Assessed or Requested)

Definition: The date and time the following action occurred:

  • Assigned - date and time the loan was assigned
  • Assessed - date and time the loan was assessed by Loan Product Advisor
  • Requested - date and time the loan was received by Loan Product Advisor

When Field Is Used: Display only
Field Location:

  • Assigned - Assignment Log, Select Loan, Unviewed Assigned/Released Loans, and Unviewed Results page
  • Assessed - Assign Loan, Full Feedback Certificate, and Loan Transactions page, Property Valuation Disclosure Form for Loan Product Advisor
  • Requested - Full Feedback Certificate

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Date of Birth

Definition: The borrower's date of birth
Valid Values: Enter the date in the following format: MM/DD/YYYY
When Field Is Used: Required. Collected on the URLA in Section III (Borrower Information)
Field Location: Loan Application Data page (Borrower Information section)

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Debt Ratio

Definition: Borrower’s monthly debt payment-to-income ratio (Total Debt/Total Income)

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Demographic Information Was Provided Through

Definition: Specifies the method used to take the application as determined by the interviewer
Valid Values:

  • Face-to-Face Interview (includes Electronic Media w/Video Component)
    • Yes or No - Was the ethnicity of the Borrower collection on the basis of visual observation or surname?
    • Yes or No - Was the gender of the Borrower collected on the basis of visual observation or surname?
    • Yes or No - Was the race of the Borrower collected on the basis of visual observation or surname?
  • Telephone Interview
  • Fax or Mail
  • Email or Internet

When Field Is Used: Optional. Collected on Form 65 in Section X (Information for Government Monitoring Purposes)
Field Location: Loan Application Data page (Interview Details)

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Describe Improvements

Definition: Text field used to capture a description of the Improvements 'Made' or 'To be Made' on the property being refinanced
Valid Values: Up to 80 alphanumeric characters
When Field Is Used: Optional. Collected on Form 65 in Section II (Property Information and Purpose of Loan)
Field Location: Refinance page

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Discount
(if borrower will pay)

Definition: The total amount of discount points that are to be paid by the borrower
Valid Values: Numeric with two decimal places (e.g., 123456.78)
When Field Is Used:
Optional. Collected on Form 65 in Section VII (Details of Transaction - line h)
Field Location: Loan Application Data page (Details of Transaction section)

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Dividends/Interest

Definition: Funds paid to owners of stocks or bonds by issuer of stock or bond, and funds paid on interest-bearing accounts
Valid Values: Numeric with two decimal places (e.g., 0000000.00 to 9999999.99)
When Field Is Used: Optional. Collected on Form 65 in Section IV (Monthly Income - Dividends/Interest)
Field Location: Loan Application Data page (Employment Information section - Monthly Income Breakdown)

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Documentation Checklist

Definition: Checklist that lists the minimum documents to be included in the loan file. This list is specific to the loan data. If you change the loan data, the Doc. Checklist may change after you resubmit. You may access the Doc. Checklist via the results list located under View Results

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Documentation Level

Definition: The category listed on the Full Feedback Certificate that defines the minimum level of documentation that must be obtained for the mortgage

Documentation levels are:

  • Streamlined Accept (conventional loans) - Identifies the minimum documentation required for loans that receive an Accept risk class with a Streamlined Accept documentation level
  • Standard (conventional loans) - Identifies the minimum documentation required for loans that receive:
    • An Accept risk class with a Standard documentation level, or
    • A Caution risk class with a Standard documentation level
  • N/A (FHA and VA loans) - refer to Documentation Class

When Field Is Used: Display only
Field Location: Full Feedback Certificate, Doc Checklist

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Does Borrower wish to furnish information?

Definition: Indicates whether the borrower wished to furnish government monitoring information
Valid Values:

  • Did not wish to furnish - borrower chose not to furnish the government monitoring information
  • Did furnish - borrower chose to furnish the government monitoring information

When Field Is Used: Optional
Field Location: Loan Application Data page (Government Monitoring section)

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Does the borrower intend to occupy the property as his/her primary residence?
(Owner Occupied)

Definition: Indicates if the borrower intends to occupy the subject property as a primary residence
Valid Values:

  • Yes - borrower intends to occupy the property
  • No - borrower does not intend to occupy the property

When Field Is Used: Required. Collected on Form 65 in Section VIII (Declarations - line l)
Field Location: Loan Application Data page (Declarations section)

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Down Payment

Definition: Cash paid at the time of purchase towards the full purchase price of the property

The down payment is calculated based on loan type as follows:

  • Conventional (purchase price - first mortgage (base loan amount) - secondary financing)
  • FHA (purchase price - base loan amount)*
  • VA (purchase price - first mortgage (base loan amount) - secondary financing)**

  • *The base loan amount is the loan amount minus any MIP or any financed closing costs
    **The base loan amount excludes the financed PMI and other closing costs or the VA Funding Fee

When Field Is Used: Display only
Field Location: Loan Application Data page (Details of Transaction section)

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Down Payment Gift Source

Definition: Identifies the source of the gift funds

Valid Values:
  • 00 – N/A
  • 01 – Relative
  • 03 – Government Assistance
  • 06 – Employer/Other
  • 15 – Nonprofit/Religious/Community (Non-Seller Funded)

When Field Is Used: Required on all FHA loans if gift funds are entered for the loan transaction
Field Location: FHA page

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E

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Eligible Veteran

Definition: Indicates if any borrower qualifies as Veteran under VA guidelines
Valid Values:

  • Yes - borrower is an eligible veteran
  • No - borrower is not an eligible veteran

When Field Is Used: Required for VA loans
Field Location: Loan Application Data page (Borrower Information section)

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End Date
(Employment)

Definition: The end date for the borrowers previous employment
Valid Values: Enter the date in the following format: MM/DD/YYYY
When Field Is Used: Optional. Collected on Form 65 in Section IV (Employment Information)
Field Location: Loan Application Data page (Borrower Information section - Employment Details)

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Estimated Closing Costs

Definition: The dollar amount of the estimated loan fees, title fees, appraisal fees and other closing costs associated with the subject transaction excluding discount points and prepaids
Valid Values: Numeric with two decimal places (e.g., 12345.67)
When Field Is Used:
Required for FHA loans. Optional for conventional and VA loans. Collected on Form 65 in Section VII (Details of Transaction - line f)
Field Location: Loan Application Data page (Details of Transaction section)

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Estimated Prepaid Items

Definition: The dollar amount of the escrow/impound that is to be held by the lender and is to be collected at closing for future payment of taxes, insurance or other obligations on the subject property
Valid Values: Numeric with two decimal places (e.g., 12345.67)
When Field Is Used:
Optional. Collected on Form 65 in Section VII (Details of Transaction - line e)
Field Location: Loan Application Data page (Details of Transaction section)

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Estimated Value of Property

Definition: Borrower or loan originator’s statement of the subject property's value. If an appraisal is required, enter the appraised value in the Appraised Value of Property field after it is available and resubmit.
Valid Values: Numeric with two decimal places and value greater than zero (e.g., 123456.78)
When Field Is Used: Required if any of the following:

  • Refinance
  • Assessing the loan’s eligibility for collateral representation and warranty relief with an appraisal waiver on a refinance transaction
  • Loan Processing Stage is beyond Prequalification
  • Appraised Value of Property is '0' or blank
If assessing the loan’s eligibility for collateral representation and warranty relief with an appraisal waiver, leave the Appraisal Identifier and Appraised Value of Property fields blank.

Field Location: Loan Application Data page (Property Information section), Property Valuation Disclosure Form for Loan Product Advisor

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Ethnicity

Definition: Borrower's ethnicity
Valid Values:

  • Hispanic or Latino
    • Mexican
    • Puerto Rican
    • Cuban
    • Other Hispanic or Latino
      Enter origin (examples: Argentinean, Colombian, Dominican, Nicaraguan, Salvadoran, Spaniard, etc.)
  • Not Hispanic or Latino
  • I do not wish to provide this information
  • Select all values which apply to the borrower. You may choose more than one designation for each value.

When Field Is Used: Required if borrower chooses to furnish information or if application was taken face-to-face. Collected on Form 65 in Section X (Information for Government Monitoring Purposes)
Field Location: Loan Application Data page (Government Monitoring section)

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Excluded?

Definition: Identifies whether or not the applicable liability is to be excluded from calculations associated with processing the loan. Reasons for excluding the liability might include the following:

  • Duplicate liability,
  • Another party's obligation, or
  • No more than 10 payments remain for an FHA or VA loan and meets their requirements for omission

If the liability has been paid off, click Yes on the Paid Off at or Before Closing? field. It is not necessary to select Excluded? as well.

For conventional loans, Alimony, Child Support, Installment, and Separate Maintenance liabilities with less than 11 months remaining are automatically omitted from the total monthly debt; therefore, it is not necessary to mark these as excluded.

Valid Values:

  • Yes - Indicates that the liability is to be excluded from the total debt calculation
  • No - Indicates that the liability is not to be excluded from the total debt calculation

When Field Is Used: Required if liability reported. Collected on Form 65 in Section VI (Assets and Liabilities)
Field Location: Loan Application Data page (Liabilities and REO Breakdown - Liability Detail pages)

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F

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Face Value

Definition: The dollar amount of the face value of the applicable borrower's Asset Type. The face value is the par value or actual selling price of the asset or the amount the issuer contracts to repay
Valid Values: Numeric with two decimal places (e.g., 456.78)
When Field Is Used: Optional. Collected on Form 65 in Section VI (Assets and Liabilities)
Field Location: Loan Application Data page (Asset Breakdown - Asset Detail pages)

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Feedback Certificate

Definition: Printed or printable document that is returned by Loan Product Advisor and details the results of the Loan Product Advisor assessment

The Full Feedback Certificate may include, but is not limited to:

  • LP AUS Key
  • AUS Transaction Number
  • Borrower, Property, and Loan information
  • Transaction Processing issues
  • Risk Class/Classification
  • Documentation Level/Classification
  • Loan Product Advisor Version
  • Minimum Assessment Feedback (MAF)
  • Purchase Restrictions
  • Warranty and Waiver messages
  • Processing messages

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FHA Case Number

Definition: The FHA-assigned case number for FHA mortgages. FHA uses the number to identify the mortgage. It must be entered on or before the last submission to be included on the Feedback Certificate and accepted by FHA

To originate FHA mortgages, users are subject to all the existing sponsorship regulations for FHA direct endorsement

Valid Values: Enter the complete 10-digit case number received from HUD

Leave the field blank until you have a valid number. Do not enter fictitious data (i.e., 1234567890) or include dashes

When Field Is Used: Required for FHA loan on or before the last submission. Collected on Form 65 in Section I (Type of Mortgage and Terms of Loan)
Field Location: FHA page

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FHA Lender ID

Definition: Number assigned by FHA to lender or broker when approved to originate FHA mortgages
Valid Values: Ten-digit numeric (no dashes)
When Field Is Used: Required on all FHA mortgages and must be the number of the broker or lender originating the mortgage
Field Location: User Profile page and FHA page. After the FHA Lender ID is entered on the User Profile page, it will auto-populate on the FHA page, but can be overwritten if imported or manually changed

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FHA Sponsor ID

Definition: The FHA Lender ID of the lender who is acting as the sponsoring wholesaler of the mortgage
Valid Values: Ten-digit numeric (no dashes)
When Field Is Used: Required on all FHA mortgages if originated by a broker and must be the number of the lender underwriting the mortgage
Field Location: User Profile page and FHA page. After the FHA Sponsor ID is entered on the User Profile page, it will auto-populate on the FHA page, but can be overwritten if imported or manually changed.

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Final Assignment

Definition: Assignor selects a wholesaler or wholesaler/MSP pair to receive exclusive Modify access on the current loan transaction. The assignor's Modify access is changed to View capability for the current and all future versions of the loan transaction
Field Location: Assign Loan page

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Final LTV

Definition: The final loan-to-value (LTV) ratio is provided by Loan Product Advisor by dividing the First Lien Mortgage amount by the lesser of the property's purchase price or appraised value  
When Field Is Used: Display only
Field Location: Full Feedback Certificate

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Financed Discount Points

Definition: The dollar amount of discount points to be financed on an FHA/VA no cash-out refinance
Valid Values: Numeric with two decimal places (e.g., 3456.78)
When Field Is Used: Optional
Field Location: FHA and VA pages

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Financed Funding Fee

Definition: Dollar amount of the VA Funding Fee that is financed as part of the loan amount.
Valid Values: Numeric with two decimal places (e.g., 456.78). Enter 0 if this amount is not financed
When Field Is Used: Required for VA loans. Collected on Form 65 in Section VII (Details of Transaction - line n)
Field Location: VA page

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Financed MIP

Definition: Dollar amount of the FHA up-front Mortgage Insurance Premium that is financed as part of the loan amount.
Valid Values: Numeric with two decimal places (e.g., 456.78). Enter 0 if this amount is not financed
When Field Is Used: Required for FHA loans. Collected on Form 65 in Section VII (Details of Transaction - line n)
Field Location: FHA page

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First Mortgage P&I
(Current or Proposed)

Definition: Amount of the periodic principal and interest payment (P&I) for the first mortgage on real estate. Principal is the monthly payment that reduces the remaining balance of the mortgage, and interest is the fee charged for borrowing the money
Valid Values: Numeric with two decimal places (e.g., 0000000.00 to 9999999.99)
When Field Is Used: Optional. Collected on Form 65 in Section V (Present/Proposed Housing Expense) and/or Section VI (Schedule of Real Estate Owned)
Field Location: Loan Application Data page (Housing Expense section - Monthly Housing Expense Breakdown)

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Flight Pay

Definition: Monthly military income for the borrower

For more information, refer to Guide Section 5301.1 on stable monthly income
Valid Values: Numeric with two decimal places (e.g., 0000000.00 to 9999999.99)
When Field Is Used: Optional. Collected on Form 65 Section IV (Monthly Income)
Field Location: Loan Application Data page (Employment Income section - Monthly Income Breakdown)

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Foster Care

Definition: Used to capture other types of stable monthly income not listed

For more information, refer to Guide Section 5301.1 on stable monthly income
Valid Values: Numeric with two decimal places (e.g., 0000000.00 to 9999999.99)
When Field Is Used: Optional. Collected on Form 65 in Section IV (Monthly Income - Other)
Field Location: Loan Application Data page (Employment Income section - Monthly Income Breakdown)

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Full Release

Definition: Final Assigned wholesaler or MSP relinquishes the ability to View or Modify the loan data. Assignor receives the loan data as originally assigned and can assign to another wholesaler or wholesaler/MSP pair
Field Location: Release Loan page

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G

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Gift Amount

Definition: The amount of gift(s) in whole dollars
Valid Values: Numeric to 6 digits (i.e., 123456). Up to five separate gift amounts may be entered
When Field Is Used: Required on all FHA loans if gift funds are entered for the loan transaction
Field Location: FHA page

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Gross Mortgage Margin

Definition: The number of percentage points added to the current index value to establish the new Note Rate at each interest change date. Refer to Guide Section 4401.5 for more information.
Valid Values: Numeric with four decimal places and value greater than zero (e.g., 1.0875)
When Field Is Used: Required if loan is an adjustable rate mortgage
Field Location: Adjustable Rate Mortgage page

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Gross Rental Income

Definition: The gross rents received for the referenced property in Real Estate Owned in which the borrower has an ownership interest and/or for which the borrower is obligated
Valid Values: Numeric with two decimal places (e.g., 12345.67)
When Field Is Used:
Optional. Collected on Form 65 in Section VI (Assets and Liabilities - Schedule of Real Estate Owned)
Field Location: Loan Application Data page (Liabilities and Real Estate Owned (REO) section, Liabilities and REO Breakdown - Real Estate Owned Details)

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H

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Has the borrower been declared bankrupt within the past 7 years?

Definition: Indicates whether the borrower has filed bankruptcy within the past seven years
Valid Values:

  • Yes - borrower has filed bankruptcy
  • No - borrower has not filed bankruptcy

When Field Is Used: Required. Collected on Form 65 in Section VII (Declarations - line b)
Field Location: Loan Application Data page (Declarations section)

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Has the borrower directly or indirectly been obligated on any loan which resulted in foreclosure, transfer of title in lieu of foreclosure, or judgment?

Definition: Borrower's answer to the question: Have you directly or indirectly been obligated on any loan that resulted in foreclosure, transfer of title in lieu of foreclosure, or judgment?
Valid Values:

  • Yes - borrower is obligated on a loan with these results
  • No - borrower is not obligated on a loan with these results

When Field Is Used: Optional. Collected on Form 65 in Section VII (Declarations - line e)
Field Location: Loan Application Data page (Declarations section)

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Has the borrower had an ownership interest in a property in the last 3 years?

Definition: Borrower's answer to the question: Has the borrower had an ownership interest in a property in the last 3 years?
Valid Values:

  • Yes - borrower has had an ownership interest
  • No - borrower has not had an ownership interest

When Field Is Used: Required. Collected on Form 65 in Section VIII (Declarations - line m)
Field Location: Loan Application Data page (Declarations section)

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Has the borrower had property foreclosed upon or given title or deed in lieu thereof in the past 7 years?

Definition: Borrower's answer to the question: Have you had a property foreclosed upon or given title or deed in lieu thereof in the last seven years?
Valid Values:

  • Yes - borrower has had a foreclosure
  • No - borrower has not had a foreclosure

When Field Is Used: Required. Collected on Form 65 in Section VIII (Declarations - line c)
Field Location: Loan Application Data page (Declarations section)

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Hazard Insurance
(for Current or Proposed)

Definition: Monthly premium amount paid for insurance coverage that provides compensation to insured in case of property damage or loss (e.g., renters, homeowners, fire, earthquake, flood, etc. insurance)
Valid Values: Numeric with two decimal places (e.g., 0000000.00 to 9999999.99)
When Field Is Used: Optional. Collected on Form 65 in Section V (Present/Proposed Housing Expense) and/or Section VI (Schedule of Real Estate Owned)
Field Location: Loan Application Data page (Housing Expense section - Monthly Housing Expense Breakdown)

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Hazard Pay

Definition: Monthly military income for the borrower

For more information, refer to Guide Section 5301.1 on stable monthly income
Valid Values: Numeric with two decimal places (e.g., 0000000.00 to 9999999.99)
When Field Is Used: Optional. Collected on Form 65 in Section IV (Monthly Income)
Field Location: Loan Application Data page (Employment Income section - Monthly Income Breakdown)

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HELOC Actual Current Balance

Definition: The dollar amount, if any, of any outstanding balance as a result of proceeds drawn from a Home Equity Line Of Credit (HELOC). The HELOC current balance must be included in the Subordinate Amount field
Valid Values: Numeric with two decimal places (e.g., 1234.45). The HELOC balance amount must be less than or equal to the HELOC limit

If borrower does not have a HELOC, leave the field blank. Do not enter 0

If the Actual Current Balance is 0, enter 0. Do not leave field blank

When Field Is Used: Required if loan has a current home equity line of credit
Field Location: Loan Application Data page (Details of Transaction section)

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HELOC High Credit Amount

Definition: The maximum dollar amount of the total Home Equity Line of Credit (HELOC) on the subject property, regardless of whether or not the borrower has accessed the amount
Valid Values: Numeric with two decimal places (e.g., 1234.45)

Required if the subordinate financing is a Home Equity Line of Credit (HELOC)

When Field Is Used: Required if loan is a home equity line of credit
Field Location: Loan Application Data page (Details of Transaction section)

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Home Equity Line of Credit (HELOC)

Definition: Secondary financing that consists of a revolving line of credit secured by a lien junior to a mortgage delivered to Freddie Mac

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Homeowner Association Dues
(for Current or Proposed)

Definition: Payments to a homeowners association to maintain property and improvements within a planned unit development
Valid Values: Numeric with two decimal places (e.g., 0000000.00 to 9999999.99)
When Field Is Used: Optional. Collected on Form 65 in Section V (Present/Proposed Housing Expense) and/or Section VI (Schedule of Real Estate Owned)
Field Location: Loan Application Data page (Housing Expense section - Monthly Housing Expense Breakdown)

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Home Phone Number

Definition: The home telephone number of the borrower
Valid Values: 10-digit numeric (e.g., 7032223333)
When Field Is Used:
Optional
Field Location:
Loan Application Data page (Borrower Information section)

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Housing Ratio

Definition: The borrower’s monthly primary housing expense-to-income ratio calculated by Loan Product Advisor by dividing primary housing expenses by total income

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How did the borrower hold title to the property?

Definition: Follow-up question to 'Has the borrower had an ownership interest in a property in the last 3 years and is the borrower's answer to the question: How did the borrower hold title to the loan?
Valid Values:

  • Solely - Owned by individual
  • Jointly with Spouse - Owned with a spouse
  • Jointly with Another - Owned with another person excluding a spouse

When Field Is Used: Conditional if borrower had an ownership interest in a property in the last 3 years. Collected on Form 65 in Section VII (Declarations - line m2)
Field Location: Loan Application Data page (Declarations section)

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I

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If other, specify
(Race/National Origin)

Definition: Description of the borrower's race/national origin if Other is selected under Race/National Origin
Valid Values: Alphanumeric characters
When Field Is Used: Optional. Collected on Form 65 in Section X (Information for Government Monitoring Purposes)
Field Location: Loan Application Data page (Government Monitoring section)

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Import

Definition: This is the process of transferring loan data from a loan origination system into Loan Product Advisor 

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Improvements Made/To Be Made

Definition: An indicator that identifies whether the improvements have been made to the property or whether they are planned
Valid Values:

  • Made
  • To be made
  • Unknown

When Field Is Used: Optional. Collected on Form 65 in Section II (Property Information and Purpose of Loan)
Field Location: Refinance page

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Infile

Definition: An infile credit report is issued by a credit repository and contains "as is" information, which is information that has not been updated or reverified as a result of a credit inquiry. Loan Product Advisor uses infile credit reports in its assessment

The infile credit report is only stored by Loan Product Advisor for 7 days. It is recommended that you print the infile credit report immediately after a credit assessment by selecting Credit Infiles from the results list. Then activate the screen for printing by clicking in the infile report area and selecting Print

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Index Code

Definition: For ARMs, a fluctuating economic indicator specified in the Note, and the value of which is used to adjust the Note Rate periodically. Refer to Guide Section 4401.5 for more information.
Valid Values:

  • 1-year Constant Maturity Treasury (CMT)
  • 3-year Constant Maturity Treasury (CMT)
  • 6-month T-Bill
  • 11th District COFI
  • National Median Cost Of Funds
  • LIBOR (London Interbank Offered Rate)
  • Other

When Field Is Used: Required if loan is an adjustable rate mortgage
Field Location: Adjustable Rate Mortgage page

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Initial Adjustment Percentage

Definition: Percentage by which the temporary subsidy buydown rate adjusts at the initial payment adjustment. For instance, if the interest rate will increase one percent after the first year, enter 1 in this field
Valid Values: Numeric with four decimal places (e.g., 1.2345)
When Field Is Used: Required if loan includes a Temporary Subsidy Buydown
Field Location: Buydown page

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Initial Assignment

Definition: Assignor selects a wholesaler to receive View access to current loan data and future transactions Assignor exclusively retains Modify access to the loan data
Field Location: Assign Loan page

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Initial Index Value

Definition: Value of the applicable index as of the Note Date or as of Loan Product Advisor submission date if loan is not yet closed

Loan Product Advisor will calculate the rate using Guide Section 4401.8.

Valid Values: Numeric with four decimal places (e.g., 1.0075)
When Field Is Used: Required if loan is an adjustable rate mortgage
Field Location: Adjustable Rate Mortgage page

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Initial LTV

Definition: The ratio of the First Lien Mortgage amount to the property's purchase price or appraised value as provided by Loan Product Advisor
When Field Is Used: Display only
Field Location: Full Feedback Certificate

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Insurance, Maintenance, Taxes and Miscellaneous

Definition: The total insurance, taxes, maintenance, and miscellaneous expenses for the referenced property in Real Estate Owned in which the borrower has an ownership interest and/or for which the borrower is obligated

To avoid double counting a liability amount, include only the amounts not entered as part of another mortgage liability. For example, real estate tax payments included in the monthly mortgage payment should not also be included as Insurance, Taxes, Maintenance and Miscellaneous in the Real Estate Owned details.

Valid Values: Numeric with two decimal places (e.g., 12345.67)
When Field Is Used:
Optional. Collected on Form 65 in Section VI (Assets and Liabilities - Schedule of Real Estate Owned)
Field Location: Loan Application Data page (Liabilities and Real Estate Owned (REO) section, Liabilities and REO Breakdown - Real Estate Owned Details)

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Intended Use of Property?

Definition: Indicates the intended use of the subject property
Valid Values:

  • Primary Residence - This property will be the primary residence of at least one of the borrowers on the loan
  • Secondary Residence - This property will be occupied by one or more of the borrowers on the loan for some portion of the year
  •  Investment - None of the borrowers on the loan will occupy this property.  It is for investment purposes only

When Field Is Used: Required. Collected on Form 65 in Section II (Property Information And Purpose of Loan)
Field Location: Loan Application Data page (Purpose of Loan and Declarations sections)

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Interest Rate

Definition: The initial interest rate payable under the Note
Valid Values: Numeric with four decimal places and value greater than zero (e.g., 6.875)
When Field Is Used: Required. Collected on Form 65 in Section I (Type of Mortgage and Terms of Loan)
Field Location: Loan Application Data page (Mortgage Type and Loan Terms section)

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Interview Signed Date (MM/DD/YYYY)

Definition: The date on which the interviewer obtained the Home Mortgage Disclosure Act (HMDA) information and signed the loan application
Valid Values: Enter the date in the following format: MM/DD/YYYY
When Field Is Used: Optional. Collected on Form 65 in Section X (Information for Government Monitoring Purposes)
Field Location: Loan Application Data page (Interview Details section)

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Interviewer's Employer Name

Definition: The name of the employer that the interviewer represents when taking the loan application
Valid Values: Alphanumeric characters
When Field Is Used: Optional. Collected on Form 65 in Section X (Information for Government Monitoring Purposes)
Field Location: Loan Application Data page (Interview Details section)

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Interviewer's Name

Definition: The name of the person taking the application
Valid Values: Alphanumeric characters
When Field Is Used: Optional. Collected on Form 65 in Section X (Information for Government Monitoring Purposes)
Field Location: Loan Application Data page (Interview Details section)

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Interviewer's Phone Number

Definition: The telephone number of the person taking the application
Valid Values: 10-digit numeric (e.g., 7032223333)
When Field Is Used: Optional. Collected on Form 65 in Section X (Information for Government Monitoring Purposes)
Field Location: Loan Application Data page (Interview Details section)

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Is any part of the down payment borrowed?

Definition: Borrower's answer to the question: Is any part of the down payment borrowed?
Valid Values:

  • Yes - a part or all of the down payment is borrowed
  • No - none of the down payment is not borrowed

When Field Is Used: Optional. Collected on Form 65 in Section VIII (Declarations - line h)
Field Location: Loan Application Data page (Declarations section)

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Is the borrower a co-maker or endorser on a note?

Definition: Borrower's answer to the question: Is the borrower a co-maker or endorser on a note?
Valid Values:

  • Yes - borrower is a co-maker or endorser on a note
  • No - borrower is not a co-maker or endorser on a note

When Field Is Used: Optional. Collected on Form 65 in Section VIII (Declarations - line i)
Field Location: Loan Application Data page (Declarations section)

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Is the borrower a party to a lawsuit?

Definition: Borrower's answer to the question: Is the borrower a party to a lawsuit?
Valid Values:

  • Yes - borrower is party to a lawsuit
  • No - borrower is not party to a lawsuit

When Field Is Used: Optional. Collected on Form 65 in Section VIII (Declarations - line d)
Field Location: Loan Application Data page (Declarations section)

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Is the borrower obligated to pay alimony, child support, or separate maintenance?

Definition: Borrower's answer to the question: Is the borrower obligated to pay alimony, child support, or separate maintenance?
Valid Values:

  • Yes - borrower is obligated to pay
  • No - borrower is not obligated to pay

When Field Is Used: Optional. Collected on Form 65 in Section VIII (Declarations - line g)
Field Location: Loan Application Data page (Declarations section)

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Is the borrower presently delinquent or in default on any federal debt?

Definition: Indicates if the borrower is currently delinquent or in default on a federal debt or has a federal lien, or is delinquent on any other loan, mortgage financial obligation, bond or loan guarantee, including collections

For FHA and VA loans, if CAIVRS information differs from your most recent Loan Product Advisor submission, you must correct and resubmit the loan to Loan Product Advisor

Valid Values:

  • Yes - borrower is presently delinquent or in default
  • No - borrower is not presently delinquent or in default

When Field Is Used: Optional. Collected on Form 65 in Section VIII (Declarations - line f)
Field Location: Loan Application Data page (Declarations section)

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Is this a Planned Unit Development?

Definition: Indicates whether or not the subject property is located in a Planned Unit Development (PUD)
Valid Values:

  • Yes - subject property is located in a Planned Unit Development
  • No (Default) - subject property is not located in a Planned Unit Development

When Field Is Used: Required to indicate "Yes" if the property is located in a planned unit development
Field Location: Loan Application Data page (Property Information section)

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Last Feedback Certificate

Definition: The most recent Feedback Certificate that is dated on or before the Note Date (See Guide Section 5101.1(c)) and accurately represents the terms of the Mortgage transaction delivered to Freddie Mac

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Leasehold Expiration Date (MM/DD/YYYY)

Definition: The final expiration date of the ground lease for the lot of the subject property
Valid Values: Eight digit numeric in MM/DD/YYYY format
When Field Is Used: Optional. Collected on Form 65 in Section II (Property Information and Purpose of Loan)
Field Location: Loan Application Data page (Purpose of Loan section)

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Legal Description

Definition: Description of the subject property, including lot, block, and subdivision information

The lot number must be preceded by the word LOT (all capitals), and the block must be preceded by the word BLK (all capitals). Separate each item with a space. No word precedes the subdivision name

Valid Values: Alphanumeric characters
When Field Is Used: Optional. Collected on Form 65 in Section II (Property Information and Purpose of Loan)
Field Location: Loan Application Data page (Property Information section)

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Liability Holder Name

Definition: The name of the liability holder for the referenced liability
Valid Values: Alphanumeric characters
When Field Is Used: Optional. Collected on Form 65 in Section VI (Assets and Liabilities)
Field Location: Loan Application Data page (Liabilities and Real Estate Owned (REO) section - Liability Details)

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Liability Identifier

Definition: Used by Loan Product Advisor to identify the specific type of liability
Valid Values: Alphanumeric characters
When Field Is Used: Optional. Collected on Form 65 in Section VI (Assets and Liabilities)
Field Location: Loan Application Data page (Liabilities and Real Estate Owned (REO) section - Liability Details)

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Liability Type

Definition: Specifies the general categories of items commonly listed as liabilities of the borrower in a mortgage loan transaction
Valid Values:

  • Alimony - Periodic amount paid under terms of divorce decree/separation agreement
  • Child Care - Periodic costs of providing care for the borrower's dependents
  • Child Support - Periodic amount paid to provide for children after divorce or separation
  • HELOC - Secondary financing that consists of a revolving line of credit secured by a junior lien to a mortgage delivered to Freddie Mac
  • Installment - Borrowed money repaid in several successive payments, usually at regular intervals, for a specific amount and specified term
  • Job Related Expense - Ongoing obligations incurred by the borrower which are prerequisite to retaining employment (e.g., professional associations, special uniforms or tools, etc.)
  • Lease Payment - Periodic amount paid under the terms of lease agreement (e.g., auto lease)
  • Lien - Lien upon the property of a debtor resulting from a decree of the court
  • Mortgage - A loan secured by a lien on real estate held in fee simple or on an acceptable leasehold estate
  • Open/30 Day Charge Account - Borrowed money repaid in 30 day intervals
  • Other Expenses - General category to disclose detail of other borrower expenses
  • Other Liabilities - General category to disclose detail of other borrower liabilities
  • Revolving Charge - Open line of credit, which is subject to variable payments in accordance with the balance. Credit cards are examples of revolving credit
  • Separate Maintenance Expense - Periodic amount paid under terms of separation agreement
  • Taxes - Amount of local, state or federal taxes that are due

When Field Is Used: Optional. Collected on Form 65 in Section VI (Assets and Liabilities)
Field Location: Loan Application Data page (Liabilities and Real Estate Owned (REO) Breakdown)

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Lien Priority

Definition: The lien order on the property for which this loan applies. Loan Product Advisor processes first liens only
Valid Values:

  • First Lien (Default value)
  • Second Lien
  • Other

When Field Is Used: Required
Field Location: Loan Application Data page (Mortgage Type and Loan Terms section)

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Lifetime Cap

Definition: For adjustable-rate mortgages (ARMs), the Life Cap is the number of percentage points, which when added to the initial Note Rate yields the lifetime ceiling. Refer to Guide Section 4401.5 for more information.
Valid Values: Numeric with four decimal places (e.g., 4.0075)
When Field Is Used: Required if loan is an adjustable rate mortgage and ARM Adjustment Type is Rate
Field Location: Adjustable Rate Mortgage page

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Loan Amount

Definition: Amount to be financed by the borrower including financed PMI. For conventional loans, this is the total amount of the mortgage being financed. For FHA/VA loans, this is the total amount of the mortgage being financed including, if applicable, any Mortgage Insurance Premium (MIP) or VA Funding Fee
When Field Is Used: Display only
Field Location: Loan Application Data page (Mortgage Type and Loan Terms section)

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Loan Application Number

Definition: Unique number you assign to a loan, allowing you to distinguish between different loans within your company
Valid Values: Alphanumeric
When Field Is Used: Required. Collected on Form 65 in Section I (Type of Mortgage and Terms of Loan)
Field Location: Loan File Setup page, Loan Product Advisor Main page (Find and Modify Existing Loans section), Loan Transactions page, Result pages, Select Loan page, and Unviewed Results page

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Loan Processing Stage

Definition: Description of the point in the loan origination process at which the loan is being submitted to Loan Product Advisor®. If a loan's status is between two points, the value for the Loan Processing Stage is the point that most recently occurred
Valid Values:

  • Prequalification - You wish to prequalify or preapprove the borrower(s) for a loan.  This status begins when the borrower first makes contact and ends when the loan application is signed

This processing point will not receive Minimum Assessment Feedback (MAF) because the subject property is unknown

  • Application - You have taken all application information and would like to do initial processing.  This status begins with a signed loan application and ends when the loan file is documented and ready for underwriting

This processing point requires complete subject property address information to receive valid MAF

  • Underwriting - You have verified all the data and are resubmitting the application to Loan Product Advisor. This status begins with a fully documented loan file and ends when you have approved or declined the loan
  • Final Disposition - The final underwriting decision has been made.  This status begins when youi have approved the loan and ends at closing
  • Post-Closing QC - The loan has closed and you are submitting the loan to Loan Product Advisor for Quality Control purposes only. This status begins after closing and includes any post-closing loan activities.
  • If resubmitting a loan to Loan Product Advisor after the Note Date or for Construction Conversion and Renovation Mortgages, the effective date of Permanent Financing, select Post-Closing QC as the Loan Processing Stage. You must also follow the requirements of Guide Section 5101.7.

When Field Is Used: Required
Field Location: Loan File Setup page

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Loan Product Advisor Assessment Exp. Date

Definition: Specifies the date the credit will expire (120 days from the date credit information was first requested for conventional, FHA and VA Mortgages - including Construction Conversion/Renovation Mortgages; or 180 days from the date credit information was first requested for FHA and VA new construction Mortgages).

If the loan is being resubmitted to Loan Product Advisor after the Note Date, or Effective Date of Permanent Financing for Construction Conversion and Renovation Mortgages, the resubmission must occur within 120 days after the “LPA Assessment Expiration Date” displayed on the Feedback Certificate that is in effect as of the Note Date.

When Field Is Used: Display only
Field Location: Full Feedback Certificate

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Loan Product Advisor Version

Definition: The version number to help you identify the system specification version used for your LOS development
When Field Is Used: Display only
Field Location: Full Feedback Certificate

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Loan Prospector ID
(field name to be updated at a later date)

Definition: The unique identifier used for the loan throughout its duration in Loan Product Advisor.
Valid Values: Eight to twelve numeric characters beginning with the letter L
When Field Is Used: Display only
Field Location: Loan File Setup page, Select Loan page, Loan Application Data page, Loan Product Advisor Main page (Find and Modify Existing Loans section), Request Services page, Assign Loan page, Assignment Log page, Unviewed Assigned/Released Loans page, Adjustable Rate Mortgage page, FHA page, VA page, Buydown page, Refinance page, Loan Transactions page, Unviewed Results page, Doc Checklist and Full Feedback Certificate

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Loan Registration Number

Definition: A tracking number assigned by a lender to identify the loan for pipeline management 
Valid Values: Alphanumeric characters
When Field Is Used: Optional. Check with your lender to determine if you need to use this field
Field Location: Loan File Setup page

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LP AUS Key
(field name to be updated at a later date)

Definition: A unique number assigned to a mortgage by Loan Prospector when the mortgage is first submitted to Loan Product Advisor.  The LP AUS Key is returned to the Seller with Loan Product Advisor results
Valid Values: Eight alphanumeric characters (e.g., 01456757)
When Field Is Used: It is used to identify an individual mortgage. Does not exist prior to the first successful submission, but on subsequent submissions it is required.
Field Location: Loan File Setup page, Loan Product Advisor Main page (Find and Modify Existing Loans section), Loan Transactions page, Results pages, Select Loan page, Unviewed Results page, Unviewed Assigned/Released Loans page, Doc Checklist (display only), Full Feedback Certificate (display only), and Property Valuation Disclosure Form for Loan Product Advisor (display only)

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LTV

Definition: The loan-to-value (LTV) ratio provided by Loan Prospector is obtained by dividing the First Lien Mortgage amount by the lesser of the property's purchase price or appraised value of the mortgaged premises
When Field Is Used: Display only
Field Location: Full Feedback Certificate

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Make and Model

Definition: The make and model of the borrower's vehicle disclosed as an asset
Valid Values: Alphanumeric characters
When Field Is Used: Optional. Collected on Form 65 in Section VI (Assets and Liabilities)
Field Location: Loan Application Data page (Asset and Reserves section - Asset Detail page)

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Manner in which title will be held

Definition: Describes how the borrower(s) will hold title on the subject property
Valid Values: Alphanumeric characters
When Field Is Used: Optional. Collected on Form 65 in Section II (Property Information and Purpose of Loan)
Field Location: Loan Application Data page (Purpose of Loan section)

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Marital Status

Definition: Indicates if the borrower is married
Valid Values:

  • Married
  • Separated
  • Unmarried
  • Unknown
  • Not provided

When Field Is Used: Required. Collected on Form 65 in Section III (Borrower Information)
Field Location: Loan Application Data page (Borrower Information) page

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Maximum Mortgage Limit (FHA)

Definition: Amount downloaded from the FHA Maximum Mortgage Limit table and used to determine a loan amount's eligibility within a geographic region based on the county's name

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Merged Credit Certificate

Definition: Printed or printable document returned by Loan Prospector when merged credit only (without a credit assessment) is requested. The Merged Credit Certificate provides a summary of the merged credit request, including:

  • Borrower and Loan Identifier Information
  • Merged Credit Status
  • Credit Information (including information for each of the applicable borrowers and if credit has been requested or re-accessed for each of those borrowers)
  • Transaction Information
  • Assignment Information

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Merged Credit Status

Definition: Status of merged credit order when requested without an Automated Underwriting Service assessment
Possible status is:

  • Complete - Merged credit data was successfully requested from the credit reporting company (CRC) to be displayed in Loan Prospector
  • Incomplete - Indicates that Loan Product Advisor was unable to acquire necessary credit data to perform the assessment

When Field Is Used: Display only
Field Location: Select Loan page, Unviewed Results page

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Merged Credit Type
(Single/Joint Merged with)

Definition: Indicates the type of credit report requested  
Valid Values:

  •  Single Merged - A single merged credit report is requested for this borrower. This is the default value for a loan application with only one borrower when Merged Credit has been selected on the Request Services page
  • Joint Merged with [with borrower name] - A joint merged credit report is requested for two borrowers on the loan

Changing from two single to one joint borrower report is considered a new request with an additional charge 

When Field Is Used: Selected when Merged Credit is requested
Field Location: Request Services page

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MI Premium Term Coverage

Definition: Indicates if the initial premium is paid monthly, annually in one lump sum, or is not applicable
When Field Is Used: Display only
Field Location: Full Feedback Certificate

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Middle Name

Definition: The borrower's middle name
Valid Values: Alphanumeric characters
When Field Is Used: Optional. Collected on Form 65 in Section III (Borrower Information)
Field Location: Loan File Setup page (Borrower Setup section) and Loan Application Data page (Borrower Information section)

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Military Income

Definition: Monthly military income for the borrower

For more information, refer to Guide Section 5301.1 on stable monthly income

Valid Values: Numeric with two decimal places (e.g., 0000000.00 to 9999999.99)
When Field Is Used: Optional. Collected on Form 65 Section IV (Monthly Income)
Field Location: Loan Application Data page (Borrower Information section - Monthly Income Breakdown Page)

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Minimum Assessment Feedback (MAF)

Definition: Indicates the type of appraisal report required to meet Freddie Mac's purchase guidelines
When Field Is Used: Display only
Field Location: Full Feedback Certificate

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Modify Release

Definition: Final Assigned wholesaler or MSP returns Modify capability on the loan transaction to the assignor, but maintains the ability to View the loan data. The assignor can only assign the loan back to the releasing wholesaler or wholesaler/MSP pair
Field Location: Release Loan page

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Monthly Income

Definition: Borrower's total stable monthly income (verified gross monthly income from all acceptable and verifiable sources) that can reasonably be expected to continue for at least the next three years

For conventional loans, the borrower's stable monthly income must be entered in the Monthly Income Breakdown section. For self-employment income to be considered for qualification purposes, enter the self-employment income on the Monthly Income Breakdown page, preferably in the Base Employment Income field. To receive feedback specific to documenting self-employment income, check the self-employed indicator on the Add Borrower Employment Details page.

For more information, refer to Guide Section 5301.1 on stable monthly income

Valid Values: Numeric with two decimal places (e.g., -9999999.99 to 9999999.99)
When Field Is Used: For conventional loans, this field is Display Only with the Monthly Income Total calculated by Loan Prospector from the Monthly Income Breakdown page. For FHA and VA loans, this field is required. Collected on Form 65 in Section V (Monthly Income and Combined Housing Expense Information)
Field Location: Loan Application Data page (Borrower Information section - Employment Information, Monthly Income Breakdown and Add Borrower Employment Details)

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Monthly Income
(for Secondary Employment)

Definition: The monthly income amount associated with the borrower's secondary employment

For more information, refer to Guide Section 5301.1 on stable monthly income

Valid Values: Numeric with two decimal places (e.g., -9999999.99 - 9999999.99)
When Field Is Used: Optional. Collected on Form 65 in Section IV (Employment Information)
Field Location: Loan Application Data page (Borrower Information section - Add Borrower Employment Details for Secondary Employment)

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Monthly Payment

Definition: The dollar amount of the monthly payment required on borrower's liability type
Valid Values: Numeric with two decimal places (e.g., 1234.56)
When Field Is Used: Required if liability reported. Collected on Form 65 in Section VI (Assets and Liabilities)
Field Location: Loan Application Data page (Liabilities and Real Estate owned (REO) Breakdown - Liabilities Details)

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Months at Residence
(for Present or Former Address)

Definition: Number of months beyond the number of years borrower has lived at present or former address
Valid Values: Numeric, 0 to 11 months
When Field Is Used: Optional. Collected on Form 65 in Section III (Borrower Information)
Field Location: Loan Application Data page (Borrower Information section)

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Months Left to Pay

Definition: The number of months the borrower must make payments in order to satisfy the identified liability
Valid Values: Up to three digit numeric (e.g., 24)
When Field Is Used: Required if liability reported. Collected on Form 65 in Section VI (Assets and Liabilities)
Field Location: Loan Application Data page (Liabilities and Real Estate Owned (REO) Breakdown - Liabilities Details)

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Mortgage Broker

Definition: A person or entity that specializes in loan originations, receiving a commission to match borrowers and lenders. The Mortgage Broker performs some or most of the loan processing functions such as taking loan applications, or ordering credit reports, appraisals and title reports. Typically the Mortgage Broker does not underwrite the loan and generally does not use its own funds for closing. The mortgage is generally closed in the name of the lender who commissioned the Mortgage Broker's services. A Mortgage Broker will not service the mortgage

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Mortgage Insurance
(for Current or Proposed)

Definition: Insurance which protects mortgage lenders against loss in the event of default by the borrower
Valid Values: Numeric with two decimal places (e.g., 0000000.00 to 9999999.99)
When Field Is Used: Optional. Collected on Form 65 in Section V (Present/Proposed Housing Expense) and/or Section VI (Schedule of Real Estate Owned)
Field Location: Loan Application Data page (Housing Expense section - Monthly Housing Expense Breakdown)

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Mortgage Payments

Definition: Total monthly payment for all mortgages and liens secured by the property in which the borrower has an ownership interest and/or for which the borrower is obligated
Valid Values: Numeric with two decimal places (e.g., 123456.78)
When Field Is Used: Optional. Collected on Form 65 in Section VI (Assets and Liabilities - Schedule of Real Estate Owned)
Field Location: Loan Application Data page (Liabilities and Real Estate Owned (REO) section, Liabilities and REO Breakdown - Real Estate Owned Details)

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Mortgage Service Provider

Definition: An entity or individual engaged to handle or perform, for a seller or correspondent, part of the mortgage application processing, underwriting, funding or postclosing functions, but not any activities related to obtaining an application for a wholesale origination. This entity or individual is typically paid on a fee basis for services performed, with the payment of fees not being contingent on mortgage approval or closing. Mortgage Service Providers include:

  • Contract underwriters
  • Contract processing firms
  • Contract quality control services
  • Escrow companies and settlement agents
  • Contract document preparation companies

If your lender requires you to assign the loan to a mortgage service provider, select both the lender and mortgage service provider from the applicable lists on the Assign Loan page

Field Location: Assign Loan page

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Mortgage Type

Definition: Indicates if the loan is conventional, FHA or VA.
Valid Values:

  • Conventional - Conventional loan
  • FHA - Federal Housing Administration Loan (verify with your lender that you are eligible to originate these loans)
  • VA - Department of Veterans Affairs Loan (verify with your lender that you are eligible to originate these loans)

You may use the same LP AUS Key to switch between the three loan types for no additional fees on a loan. The final loan submission should match the selected loan type

When Field Is Used: Required. Collected on Form 65 in Section I (Type of Mortgage and Terms of Loan)
Field Location: Loan Application Data page (Mortgage Type and Loan Terms section), Unviewed Assigned/Released Loans page, Doc Checklist (display only), and Full Feedback Certificate (display only)

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MSP Assignment

Definition: Assignor (always a Lender) selects a Mortgage Service Provider (MSP) to share Modify access on the loan data
Field Location: Assign Loan page

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MSP/NOTP Name

Definition: A mortgage service provider (MSP), entity, or individual who provides contract underwriting, contract processing, and data integrity services for lenders. NOTP is a non-originating third party
Valid Values: Display only on Transaction page
When Field Is Used: Optional. A broker or lender may select an MSP to assign the loan for processing or underwriting
Field Location: Loan File Setup page

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MSP/NOTP Number

Definition: Freddie Mac-assigned number for non-originating third parties (NOTPs), Mortgage Service Providers (MSPs) that access Loan Product Advisor directly. This field is automatically populated by Loan Product Advisor when MSP/NOTP name is selected
Valid Values: Alphanumeric characters
When Field Is Used: MSP/NOTP must enter this number the first time they use Loan Product Advisor
Field Location: User Profile page

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N

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Name of Employer
(Current Primary, Current Secondary, and Previous Employer)

Definition: The name of the borrower's current primary, current secondary, or previous employer
Valid Values: Alphanumeric characters
When Field Is Used: Optional
Field Location: Loan Application Data page (Borrower Information section - Employment Details) page

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Negative Amortization % Limit

Definition: Maximum loan-to-value (LTV) allowed for a negatively amortizing mortgage. Refer to Guide Section 30.7 for more information.
Valid Values: Numeric with 3 decimal places (e.g., 80.275)
When Field Is Used: Required if there is negative amortization
Field Location: Adjustable Rate Mortgage page

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Negative Amortization Type

Definition: An indication if it is possible for the loan to have negative amortization on an adjustable rate mortgage.
Valid Values:

  • No Negative Amortization
  • Scheduled Negative Amortization
  • Potential Negative Amortization

When Field Is Used: Required if loan is an adjustable rate mortgage
Field Location: Adjustable Rate Mortgage page

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Net Purchase Price

Definition: The amount equal to the Gross Purchase Price minus any Sales Concessions or excess Financing Concessions.

Reference the definition of Sales Concessions for additional information

When Field Is Used: Display only
Field Location: Loan Application Data page (Details of Transaction section)

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Net Rental Income (Monthly Income)

Definition: Monthly rental income received on a property after the PITI and operating expenses have been deducted

For more information, refer to Guide Sections 5301.1 on stable monthly income and 5306.1 on rental income

Valid Values: Numeric with two decimal places (e.g., -9999999.99 to 9999999.99)
When Field Is Used: Required if liability reported. Collected on Form 65 in Section V (Monthly Income - Net Rental Income)
Field Location: Loan Application Data page (Borrower Information section - Monthly Income Breakdown)

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Net Rental Income (REO Property)

Definition: The total net income received for the referenced property in Real Estate Owned in which the borrower has an ownership interest and/or for which the borrower is obligated
Valid Values: Numeric with two decimal places (e.g., 12345.67). Use a '-' (dash) in front of the number to represent a negative value (e.g., -12345.67)
When Field Is Used: Optional. Collected on Form 65 in Section VI (Assets and Liabilities - Schedule of Real Estate Owned)
Field Location: Loan Application Data page (Liabilities and Real Estate Owned (REO) section, Liabilities and REO Breakdown - Real Estate Owned Details page)

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New Construction

Definition: Indicates the type of loan involving Construction Conversion or Renovation for conventional conforming loans, and new construction for FHA and VA loans
Valid Values:

  • Newly Built - Option valid for FHA and VA loans. For VA loans, Newly Built is the only valid option.
  • Construction Conversion - Option valid for conventional and FHA loans.  For conventional loans, select Construction Conversion if obtaining permanent financing to replace interim construction financing that the borrower obtained to purchase or refinance as applicable, the land on which the site-built home or manufactured home will be constructed or affixed, and:
    • Construct a new site-built home, or
    • Purchase and permanently affix to the site and convert to real property, a new manufactured home.

    Renovation Mortgages should be entered as Construction Conversion. The mortgage is a Renovation Mortgage if the borrower is obtaining permanent financing to replace interim construction financing obtained by the borrower to purchase or refinance the land and an existing site-built home and to repair, restore, rehabilitate or renovate the site-built home.

      The transaction should be processed as a purchase if the borrower is not the owner of record of the land (or is not a lessee of a leasehold estate) prior to the closing of the interim construction financing. The transaction should be processed as a refinance if the borrower is the owner of record of the land (or lessee of a leasehold estate) prior to the closing of the interim construction financing.

When Field Is Used: Required if Building Status is Proposed or Under Construction, Substantially Rehabilitated, or Alteration, Improvements, Repair
Field Location: Loan Application Data page (Purpose of Loan section)

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Non-Occupant Borrower Housing Expense

Definition: Total monthly housing expenses for all non-occupant borrowers on the loan application. The monthly housing expense is the sum of the following monthly charges on the non-occupant borrowers' primary residence:

  • Rent
  • Monthly principal and interest payments
  • Real estate taxes
  • Property hazard insurance premiums
  • When applicable:
    • Mortgage insurance premiums
    • Homeowners association dues, excluding unit utility charges
    • Leasehold payments
    • Payments on secondary financing

Add the total non-occupant borrower housing expense into the Total Monthly Debt field on the Loan Application Data page (Liabilities and Real Estate Owned) page, even though it is listed out separately

For FHA and VA Mortgages, refer to the Total Mortgage Scorecard User Guide and VA Lender’s Handbook, respectively, for a complete list of included expenses.

Valid Values: Numeric with two decimal places (e.g., 1456.78).
When Field Is Used: Required if one or more borrowers are non-occupying and the subject property is primary residence.
Field Location: Loan Application Data page (Housing Expense section)

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Non-Occupant Borrower Non-Housing Debt

Definition: Total monthly non-housing debt for all non-occupant borrower(s) on the application. The monthly non-occupant, non-housing debt is the sum of the following:

  • Payments on all installment debts with more than 10 months of payments remaining, including debts that are in a period of either deferment or forbearance. For student loans and other installment debt, see Guide Section 5401.2(a)
  • Alimony, child support, or maintenance payments, with more than 10 months of payments remaining
  • Monthly payments on revolving or open-end accounts, regardless of the balance. In the absence of a monthly payment on the credit report, and if there is no documentation in the Mortgage file indicating the monthly payment amount, 5% of the outstanding balance will be considered to be the required monthly payment amount. Monthly payments on open-end accounts (accounts which require the balance to be paid in full monthly) are not required to be included in the monthly debt payment if the Borrower has sufficient verified funds to pay off the outstanding account balance. The funds must be in addition to any funds required for down payment, Closing Costs, Financing Costs, Prepaids/Escrows or reserves, as applicable
  • Car lease payments, regardless of the number of payments remaining
  • Refer to Guide Chapter 5306 for requirements for treatment of mortgage debt when using rental income
  • Monthly payment amounts for other properties including principal and interest on the first lien and any secondary financing, taxes and insurance and, when applicable, mortgage insurance premiums, leasehold payments, homeowners association dues (excluding unit utility charges).

    Refer to Section 5401.2(b) for special requirements pertaining to contingent liabilities

Add the total non-occupant borrower non-housing debt into the Total Monthly Debt field on the Loan Application Data page (Liabilities and Real Estate Owned), even though it is listed out separately

Valid Values: Numeric with two decimal places (e.g., 1456.78)
When Field Is Used: Required if one or more borrowers are non-occupying and subject property is primary residence
Field Location: Loan Application Data page (Liabilities and Real Estate Owned (REO) section)

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Note Receivable/Installments

Definition: Used to capture other types of stable monthly income not listed

For more information, refer to Guide Section 5301.1 on stable monthly income
Valid Values: Numeric with two decimal places (e.g., 0000000.00 to 9999999.99)
When Field Is Used: Optional. Collected on Form 65 in Section IV (Monthly Income - Other)
Field Location: Loan Application Data page (Employment Income section - Monthly Income Breakdown)

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Number of Dependents

Definition: The number of dependents disclosed by the borrower
Valid Values: Up to two digit numeric (e.g., 3)
When Field Is Used: Required if VA loan. (Collected on Form 65 in Section III (Borrower Information)
Field Location: Loan Application Data page (Borrower Information section)

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Number of Shares

Definition: The number of shares associated with the stocks or bonds that the borrower has reported as an asset
Valid Values: Numeric (e.g., 3025)
When Field Is Used: Optional. Collected on Form 65 in Section VI (Assets and Liabilities)
Field Location: Loan Application Data page (Asset and Reserves section - applicable Asset Detail pages)

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Number of Submissions

Definition: Indicates the cumulative number of times the loan has been submitted to Loan Product Advisor by both the originator and those assigned the loan

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Number of Units

Definition: Indicates the number of individual family dwelling units on the subject property

If the number of units is greater than one, make sure the property type coincides

Valid Values: Numeric. For example, if the property contains four separate apartments, type 4 in this field 
When Field Is Used: Required and must contain a value is greater than zero. Collected on Form 65 in Section II (Property Information and Purpose of Loan)
Field Location: Loan Application Data page (Property Information section)

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O

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Offering Identifier

Definition: Used by Loan Product Advisor to identify the specific type of product offering

You must select an Offering Identifier value if the mortgage is a Home Possible or Relief Refinance - Open Access offering in order for Loan Product Advisor to perform the applicable eligibility checks for the specific product

Valid Values:

  • Home Possible - Mortgage for properties located in an underserved area or low- to moderate-income borrowers that offers qualified borrowers flexible underwriting, low down payment options, expanded loan-to-value (LTV) and total loan-to-value (TLTV) ratios, and other special underwriting features. Home Possible mortgages must be originated in accordance with Chapter 4501.

  • Home Possible Advantage and Home Possible Advantage for Housing Finance Agencies (HFAs) - Mortgage offerings with the additional flexibility of 97% maximum loan-to-value (LTV) and 105% maximum total LTV (TLTV) ratio limits. Home Possible Advantage provides a responsible financing option for qualified low- and moderate-income borrowers, including first-time homebuyers, who may lack funds for a larger down payment.


  • Seller must have a Negotiated Commitment to deliver a Home Possible Advantage for HFA mortgage.


  • Relief Refinance - Open Access - Requires the mortgage being refinanced must:
    • Be a First Lien conventional mortgage currently owned by Freddie Mac in whole or in part or securitized by Freddie Mac
    • Have a Freddie Mac Settlement Date on or before May 31, 2009
    • Be seasoned for at least 3 months

    See Guide Section 4303.2 for offering details.

Remember to delete the product offering entered in the Offering Identifier field if the mortgage does not meet the criteria and/or you change to another product offering

When Field Is Used: Required if the mortgage is a Home Possible or Relief Refinance - Open Access Mortgage
Field Location: Loan Application Data page (Mortgage Type and Loan Terms section)

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Original Cost

Definition: Original cost of the property (land and improvements) at the time of acquisition, or original cost of the land if a Construction Conversion Mortgage and no improvements exist    
Valid Values: Numeric with two decimal places (e.g., 123456.78)

When Field Is Used: Required if the loan is a refinance. Collected on Form 65 in Section II (Property Information and Purpose of Loan)
Field Location: Refinance page

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Originating Broker/Seller Company Name

Definition: Name of organization originating the loan
Field Location: Loan File Setup page, Full Feedback Certificate, Loan Transactions page, Select Loan page, and Unviewed Results page

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Other
(Current or Proposed Housing Expense)

Definition: Other expenses related to housing which are not included in the listed values, excluding utility payments
Valid Values: Numeric with two decimal places (e.g., 0000000.00 to 9999999.99)
When Field Is Used: Optional. Collected on Form 65 in Section V (Present/Proposed Housing Expense)
Field Location: Loan Application Data page (Housing Expense section - Monthly Housing Expense Breakdown)

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Other (Monthly Income)

Definition: Used to capture other types of stable monthly income not listed

For more information, refer to Guide Section 5301.1 on stable monthly income

Valid Values: Numeric with two decimal places (e.g., -9999999.99 to 9999999.99)
When Field Is Used: Optional. Collected on Form 65 in Section IV (Monthly Income - Other)
Field Location: Loan Application Data page (Borrower Information section - Monthly Income Breakdown)

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Other Credit Amount

Definition: The dollar amount of the Other Credit Type (Purchase Credit Type) related to the loan application

Other Credits (Purchase Credits) include: Earnest Money (Cash Deposit on Sales Contract), Relocation Funds, Employer Assisted Housing, Lease Purchase Fund, Borrower Paid Fee (outside closing), Property Seller Credit, Lender Credit, and Other (such as sweat equity on Home Possible® Mortgages when there is at least a 5% down payment from borrower personal funds as indicated in Guide Section 4501.10(c)(ii)).

For FHA Financing – Gift funds should be entered as total of all Gift Funds in Assets Breakdown. If there are multiple gifts, select the gift donor for each individual gift under Source of Down Payment/Gift and enter the dollar amount of each gift in the Gift Amount on the FHA page.

Valid Values: Numeric with two decimal places (e.g., 123456.78)
When Field Is Used:
Optional. Collected on Form 65 in Section VII (Details of Transaction - line l)
Field Location: Loan Application Data page (Details of Transaction section)

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Other Credit Type

Definition: Specifies the general categories of credit on the transaction exclusive of financing
Valid Values:

  • Cash Deposit on Sales Contract - A deposit made as a show of good faith by buyer to bind the conditions of a sale of real estate
  • Seller Credit - A credit from the seller that will be applied to the borrower at settlement
  • Borrower Paid Fee - A fee paid by the borrower that is credited back to borrower as a valid source of borrower funds to close the transaction
  • Lender Credit - A credit from the lender that will be applied to the borrower at settlement
  • Relocation Funds - Funds provided to relocating borrower (usually by employer) to offset some of the initial or ongoing costs of borrowers home at the new location
  • Employer Assisted Housing - Funds provided to borrower by employer to offset some of the initial or ongoing costs of borrower's home
    Lease Purchase Fund - Under a lease/purchase arrangement, owner of real estate agrees to credit some portion of rent towards down payment This is the accumulated amount of such credits reflected at closing
  • Other - Purchase credits of any type not otherwise listed

 When Field Is Used: Optional. Collected on Form 65 in Section VII (Details of Transaction - line l)
Field Location: Loan Application Data page (Details of Transaction section)

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Other Financing P&I
(for Current or Proposed)

Definition: Amount of a periodic principal and interest payment (P&I) of a first mortgage on real estate. Principal is the monthly payment that reduces the remaining balance of the mortgage, and interest is the fee charged for borrowing the money
Valid Values: Numeric with two decimal places (e.g., 0000000.00 to 9999999.99)
When Field Is Used: Optional. Collected on Form 65 in Section V (Present/Proposed Housing Expense) and/or Section VI (Schedule of Real Estate Owned)
Field Location: Loan Application Data page (Housing Expense section - Monthly Housing Expense Breakdown)

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Overseas Pay

Definition: Monthly military income for the borrower

For more information, refer to Guide Section 5301.1 on stable monthly income
Valid Values: Numeric with two decimal places (e.g., 0000000.00 to 9999999.99)
When Field Is Used: Optional. Collected on Form 65 in Section IV (Monthly Income - Other)
Field Location: Loan Application Data page (Employment Income section - Monthly Income Breakdown)

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Overtime

Definition: Additional hourly compensation paid for work beyond the usual and customary work period
Valid Values: Numeric with two decimal places (e.g., 0000000.00 to 9999999.99)

For more information, refer to Guide Section 5301.1 on stable monthly income

When Field Is Used: Optional. Collected on Form 65 in Section V (Monthly Income - Overtime)
Field Location: Loan Application Data page (Borrower Information section - Monthly Income Breakdown)

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Owed to

Definition: The name of the person to whom alimony, child support, or separate maintenance is owed by the borrower
Valid Values: Alphanumeric characters
When Field Is Used: Optional. Collected on Form 65 in Section VI (Assets and Liabilities)
Field Location: Loan Application Data page (Liabilities and Real Estate Owned (REO) section - Liabilities Details)

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Own/Rent
(for Current Address or Former Address)

Definition: Indicates if the borrower owns or rents the current place of residence or former place of residence
Valid Values:

  • Own
  • Rent
  • Living rent free
  • Unknown

When Field Is Used: Required for present address. Optional for Former Address. Collected on Form 65 in Section III (Borrower Information)
Field Location: Loan Application Data page (Borrower Information section)

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P

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Paid Off at or Before Closing?

Definition: Identifies whether the liability will be paid off at or before closing
Valid Values:

  • Yes - indicates that the liability will be paid off. The liability will be excluded from the total debt calculation
  • No - indicates that the liability will not be paid off. The liability will be included in the total debt calculation unless exclusionary criteria apply

When Field Is Used: Required if liability reported. Collected on Form 65 in Section VI (Assets and Liabilities)
Field Location: Loan Application Data page (Liabilities and REO Breakdown - Liability Detail pages)

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Pension

Definition: Used to capture other types of stable monthly income not listed

For more information, refer to Guide Section 5301.1 on stable monthly income
Valid Values: Numeric with two decimal places (e.g., 0000000.00 to 9999999.99)
When Field Is Used: Optional. Collected on Form 65 in Section IV (Monthly Income - Other)
Field Location: Loan Application Data page (Employment Income section - Monthly Income Breakdown)

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Periodic Cap (Payment Adjustment)

Definition: For ARMs, the maximum number of percentage points by which the principal and interest (P&I) may increase or decrease at any payment change date. Refer to Guide Section 4401.5 for more information.
Valid Values: Numeric with four decimal places (e.g., 1.0078)
When Field Is Used: Required if loan is an adjustable rate mortgage
Field Location: Adjustable Rate Mortgage page

Periodic Cap (Rate Adjustment)

Definition: For ARMs, the maximum number of percentage points by which the Note Rate can increase or decrease on any interest change date after the first interest change date. Refer to Guide Section 4401.5 for more information.
Valid Values: Numeric with four decimal places (e.g., 1.0456)
When Field Is Used: Required if loan is an adjustable rate mortgage
Field Location: Adjustable Rate Mortgage page

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PMI, MIP, Funding Fee

Definition: Dollar amount paid for Private Mortgage Insurance, Mortgage Insurance Premium or VA funding fee
Valid Values: Numeric with two decimal places (e.g., 3456.78)
When Field Is Used: Required for FHA or VA loans. Collected on Form 65 in Section VII (Details of Transaction - line g)
Field Location: Loan Application Data page (Details of Transaction section)

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PMI, MIP, Funding Fee Financed

Definition: Dollar amount of the Private Mortgage Insurance, Mortgage Insurance Premium or VA funding fee that is financed as part of the loan amount. Enter 0 if this amount is not financed
Valid Values: Numeric with two decimal places (e.g., 3456.78)
When Field Is Used: Required for FHA or VA loans. Collected on Form 65 in Section VII (Details of Transaction - line n)
Field Location: Loan Application Data page (Mortgage Type and Loan Terms section)

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Position/Title

Definition: A description of the borrower's primary, secondary, or previous employment position
Valid Values: Alphanumeric characters
When Field Is Used: Optional. Collected on Form 65 in Section IV (Employment Information)
Field Location: Loan Application Data page (Borrower Information section - Employment Details)

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Present Housing Expense

Definition: The total monthly housing expense for all borrowers on the loan application. The monthly housing expense is the sum of the following monthly charges on the borrowers' primary residence:

  • Rent
  • Monthly principal and interest payments
  • Real estate taxes
  • Property hazard insurance premiums
  • When applicable:
    • Mortgage insurance premiums
    • Leasehold payments
    • Homeowners association dues, excluding unit utility charges
    • Payments on secondary financing

For FHA and VA Mortgages, refer to the Total Mortgage Scorecard User Guide and VA Lender’s Handbook, respectively, for a complete list of included expenses.

Valid Values: Numeric with two decimal places (e.g., 1356.78)
When Field Is Used: Required, unless using the Monthly Housing Expense Breakdown. When using the Monthly Housing Expense Breakdown, this field becomes Display only with the Present Housing Expense Total. Collected on Form 65 in Section V (Monthly Income and Combined Housing Expense Information)
Field Location: Loan Application Data page (Housing Expense section)

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Present Market Value (REO)

Definition: The present market value of the property referenced in Real Estate Owned in which the borrower has an ownership interest and/or for which the borrower is obligated
Valid Values: Numeric with two decimal places (e.g., 123456.78)
When Field Is Used:
Optional. Collected on Form 65 in Section VI (Assets and Liabilities - Schedule of Real Estate Owned)
Field Location: Loan Application Data page (Liabilities and Real Estate Owned (REO) section, Liabilities and REO Breakdown - Real Estate Owned Details page)

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Previous Monthly Income

Definition: The monthly income amount associated with the borrower's previous employment
Valid Values: Numeric with two decimal places (e.g., 12345.67)
When Field Is Used: Optional. Collected on Form 65 in Section IV (Employment Information)
Field Location: Loan Application Data page (Borrower Information section - Employment Details)

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Primary Borrower Name

Definition: The name of the primary borrower on the loan application

  • If you initiated a search using the Borrower Name field on the Loan Search page, this field displays the name of the borrower specified
  • If you initiated a search using criteria other than the Borrower Name field on the Loan Search page, this field displays the name of the primary borrower for the loan
  • On the Assign Loan page, this field displays the name of the primary borrower for the loan

When Field Is Used: Display only
Field Location: Select Loan page and Assign Loan page

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Prop Pay

Definition: Monthly military income for the borrower

For more information, refer to Guide Section 5301.1 on stable monthly income
Valid Values: Numeric with two decimal places (e.g., 0000000.00 to 9999999.99)
When Field Is Used: Optional. Collected on Form 65 in Section IV (Monthly Income)
Field Location: Loan Application Data page (Employment Income section - Monthly Income Breakdown)

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Property Disposition

Definition: The borrower's intended disposition of each property in which the borrower has an ownership interest and/or for which the borrower is obligated
Valid Values:

  • Sold
  • Pending Sale
  • Rental
  • Retained

When Field Is Used: Required if Mortgage or HELOC liability reported. Collected on Form 65 in Section VI (Assets and Liabilities - Schedule of Real Estate Owned)
Field Location: Loan Application Data page (Liabilities and Real Estate Owned (REO) section, Liabilities and REO Breakdown - Real Estate Owned Details page)

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Property to be held in

Definition: Specifies the intended property ownership rights for the subject property
Valid Values:

  • Fee Simple - an estate under which the owner is entitled to unrestricted powers to dispose of the property which can be left by a will or inherited
  • Leasehold - an estate or interest in real property for a fixed term held by virtue of a lease

When Field Is Used: Required to determine eligibility for collateral representation and warranty relief. Collected on Form 65 in Section II (Property Information and Purpose of Loan)
Field Location: Loan Application Data page (Purpose of Loan section)

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Property Type

Definition: Structure type of the subject property
Valid Values:

  • Detached
  • Attached
  • Condominium
  • Cooperative
  • Manufactured Home Singlewide
  • Manufactured Home Multiwide

If the property is a manufactured home that is located in a Condominium Project, select one of the two options listed for manufactured homes

When Field Is Used: Required unless Loan Processing Stage is Prequalification
Field Location: Loan Application Data page (Property Information section)

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Property Valuation Disclosure Form for Loan Product Advisor®

Definition: Printable document that is returned by Loan Product Advisor and provides proprietary property valuation information

The Property Valuation Disclosure Form includes:

  • Borrower/Applicant Information
  • LP AUS Key
  • AUS Transaction Number
  • Property Address
  • Purchase Price
  • Date/Time Assessed
  • Estimated Value of Property (provided by Lender)
  • Home Value Explorer® (HVE®) Model Results

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Proposed Housing (PITI)

Definition: Monthly housing expense for the subject property. Equal to the Proposed Monthly Housing Expense Total found on the loan application 

Calculating monthly housing expense - To calculate the proposed monthly housing expense, add the following together for the property being financed:

  • Principal and Interest
  • Real estate taxes
  • Property hazard insurance premiums
  • When applicable:
    • Mortgage insurance premiums
    • Homeowner's association dues, excluding unit utility charges
    • Leasehold payments
    • Payments on secondary financing (for Affordable Seconds, include if payments begin within five years of the subject mortgage)

For FHA and VA Mortgages, refer to the Total Mortgage Scorecard User Guide and VA Lender’s Handbook, respectively, for a complete list of included expenses.

Valid Values: Numeric with two decimal places (e.g., 1456.78)
When Field Is Used: Required. Exception: When using the Monthly Housing Expense Breakdown, this field becomes Display only. Collected on Form 65 in Section V (Monthly Income and Combined Housing Expense Information)
Field Location: Loan Application Data page (Housing Expense section)

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Purchase Eligibility

Definition: Indicates whether, and under what conditions, Freddie Mac will purchase the assessment as submitted to Loan Product Advisor

Messages include:
  • Eligible - Indicates mortgage is eligible for delivery per the Freddie Mac Single-Family Seller/Servicer Guide (Guide)
  • Ineligible - Indicates mortgage is not eligible for delivery per the Guide. This response may result in a Purchase Restriction message when the loan is eligible for assessment by Loan Product Advisor but not eligible for sale to Freddie Mac per the standards in the Guide. Contact your wholesaler, as applicable
  • N/A - Indicates the mortgage is FHA or VA

When Field Is Used: Display only
Field Location: Full Feedback Certificate, Doc Checklist

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Purchase Price

Definition: Purchase price of the subject property

For all applicable transactions (such as Manufactured Homes and Construction Conversion Mortgages) where the purchase price of the land and value of the land are not equal, Loan Product Advisor cannot accurately calculate the Required Borrower Funds amount (returned on the Feedback Certificate); however, to accurately determine the loan-to-value (LTV), include the lower of the purchase price of the land or value of the land in the Purchase Price field.

Valid Values: Numeric with two decimal places and value greater than zero (e.g., 123456.78)
When Field Is Used: Required if loan is used for purchase. This field must contain a dollar amount. Collected on Form 65 in Section VII (Details of Transaction - line a)

If assessing the loan’s eligibility for collateral representation and warranty relief with an appraisal waiver, leave the Appraisal Identifier and Appraised Value of Property fields blank.
Field Location: Loan Application Data page (Details of Transaction section), Property Valuation Disclosure Form for Loan Product Advisor

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Purchase Restriction

Definition: Message(s) returned that indicates the reason(s) the transaction may be ineligible for purchase by Freddie Mac
When Field Is Used: Display only
Field Location:
Full Feedback Certificate

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Purpose of Loan

Definition: The purpose for which the borrower will use the loan
Valid Values:

  • Purchase - subject loan will be used for the purchase of a property
  •  Refinance - repayment of a debt from proceeds of a new loan using the same property as security

When Field Is Used: Required. Collected on Form 65 in Section II (Property Information And Purpose Of Loan)
Field Location:
Loan Application Data page (Purpose of Loan section)

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Purpose of Refinance

Definition: Identifies the type of refinance mortgage
Valid Values:

  • Cash-Out Refi - Generally, a cash-out refinance mortgage is one where the use of the loan amount is not limited to specific purposes, and may include a disbursement of cash to the borrower or other payee. Specifically, a cash-out refinance mortgage is one that does not meet the requirements for a no-cash out refinance per Section 4301.4 of the Guide. A mortgage on a property previously owned free and clear by the borrower is always considered a cash-out refinance
  • No Cash-Out Refi - A refinance mortgage where the subject loan will pay off an outstanding loan
  • No Cash-Out FHA Streamlined Refi - A refinance mortgage where the subject FHA loan will pay off an outstanding FHA loan under the streamlined refinance guidelines as provided to the lender by FHA and as processed through Loan Product Advisor

If a Relief Refinance Mortgage - Open Access, select "No Cash-Out Refi". Also, be sure to select 'Relief Refinace - Open Access' in the Offering Identifier field located in the Mortgage Type and Loan Terms subsection of the Loan Application Data page.

When Field Is Used: Required for refinances. Collected on Form 65 in Section II (Property Information And Purpose Of Loan)
Field Location:
Refinance page

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Q

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Quarters Allowance

Definition: Monthly military income for the borrower

For more information, refer to Guide Section 5301.1 on stable monthly income
Valid Values: Numeric with two decimal places (e.g., 0000000.00 to 9999999.99)
When Field Is Used: Optional. Collected on Form 65 in Section IV (Monthly Income)
Field Location: Loan Application Data page (Employment Income section - Monthly Income Breakdown)

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Quick Search

Definition: A method for finding a lender to whom you wish to assign a loan or send comments. You can type the first couple of letters of the lender's name in the Quick Search box. As you type, the application will search the lender list in the drop-down box to find the closest match
When Field Is Used:
Optional
Field Location: Assign Loan page

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R

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Race

Definition: Borrower's race
Valid Values:

  • American Indian/Alaska Native
    • Enter name of enrolled or principal tribe
  • Asian
    • Asian Indian
    • Chinese
    • Filipino
    • Japanese
    • Korean
    • Vietnamese
    • Other Asian
      Enter race (examples: Hmong, Loatian, Thai, Pakastani, Cambodian, etc.)
  • Black or African American
  • Native Hawaiian or Other Pacific Islander
    • Native Hawaiian
    • Guamanian or Chamorro
    • Samoan
    • Other Pacific Islander
      Enter race (examples: Fijian, Tongan, etc.)
  • White
  • I do not wish to provide this information

Select all values which apply to the borrower. You may choose more than one designation for each value.

When Field Is Used: Required if borrower chooses to furnish information or if application was taken face-to-face. Collected on Form 65 in Section X (Information for Government Monitoring Purposes)
Field Location: Loan Application Data page (Government Monitoring section)

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Rations Allowance

Definition: Monthly military income for the borrower

For more information, refer to Guide Section 5301.1 on stable monthly income
Valid Values: Numeric with two decimal places (e.g., 0000000.00 to 9999999.99)
When Field Is Used: Optional. Collected on Form 65 in Section IV (Monthly Income)
Field Location: Loan Application Data page (Employment Income section - Monthly Income Breakdown)

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Real Estate, Mortgage Differential

Definition: Used to capture other types of stable monthly income not listed

For more information, refer to Guide Section 5301.1 on stable monthly income
Valid Values: Numeric with two decimal places (e.g., 0000000.00 to 9999999.99)
When Field Is Used: Optional. Collected on Form 65 in Section IV (Monthly Income - Other)
Field Location: Loan Application Data page (Employment Income section - Monthly Income Breakdown)

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Real Estate Taxes
(for Combined or Proposed)

Definition: Local government taxes levied on the ownership of real property
Valid Values: Numeric with two decimal places (e.g., 0000000.00 to 9999999.99)
When Field Is Used: Optional. Collected on Form 65 in Section V (Present/Proposed Housing Expense) and/or Section VI (Schedule of Real Estate Owned)
Field Location: Loan Application Data page (Housing Expense section - Monthly Housing Expense Breakdown)

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Reference Number


Definition:
A number generated by all Credit Reporting Companies (CRCs) for each merged credit report they create
Valid Values: Each CRC has its own size and format for this number, but only alphanumeric characters should be entered in this field
When Field Is Used:
Optional
Field Location: Request Services page

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Refinance (include debts to be paid off)


Definition:
The total amount of all mortgage debt to be repaid with funds from refinancing the mortgage loan on the subject property
Valid Values: Numeric with two decimal places (e.g., 123456.78)
When Field Is Used:
Optional. Collected on Form 65 in Section VII (Details of Transaction - line d)
Field Location: Loan Application Data page (Details of Transaction section)

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Rent

Definition: Periodic amount the borrower pays to a landlord for occupancy of current residence

If rent is apportioned among multiple borrowers, either enter the full rent under one borrower or apportion the rent across borrowers to avoid double counting.
Valid Values: Numeric with two decimal places (e.g., 1234.56)
When Field Is Used: Optional. Collected on Form 65 in Section V (Present Expense - Rent)
Field Location: Loan Application Data page (Housing Expense section - Current Monthly Housing Expense Breakdown)

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Reserves

Definition: The amount of verified assets remaining after the mortgage closing. See Single-Family Seller/Servicer Guide Section 5501.2 and 5501.3 for specific requirements, including the requirements for minimum required reserves and eligible assets
Valid Values: Numeric with two decimal places (e.g., 1456.78). Enter 0 or leave field blank if the borrowers have no reserves
When Field Is Used: Optional
Field Location: Loan Application Data page (Assets and Reserves section)

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Resubordinating Debt Related to the Subject Property

Definition: Indicates whether a current subordinate liability on the subject property will be
re-subordinated to the subject loan after closing.

Valid Values:

  • True - the debt is related to the subject property and is being resubordinated
  • False - the debt is related to the subject property and is not being resubordinated

When Field Is Used: Required if liability type is HELOC or Mortgage. Collected on Form 65 in Section VII (Details of Transaction)
Field Location: Loan Application Data page (Details Of Transaction section)

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Risk Class

(Also known as AUS Risk Class)

Definition: The category listed on the Full Feedback Certificate that defines the level of underwriting required, any special underwriting provisions and, if applicable, relief from certain representations and warranties

Possible values returned are:

  • Accept (Conventional, FHA, and VA) - A risk class returned by Loan Product Advisor indicating that based on analysis of the credit and other data submitted, the mortgage is eligible for one of the following, provided the data is true, complete and accurate:
    • Purchase by Freddie Mac as long as the mortgage is eligible for purchase under the lender's Master Agreement and/or other Pricing Identifier Terms
    • FHA Insurance per the HUD Handbook 4155
    • VA Guaranty per the VA Lender's Handbook


  • Refer (FHA and VA) - A risk class returned by Loan Product Advisor indicating the mortgage:
    • Has serious risk that may make the mortgage unacceptable by FHA or VA and must be assessed by the lender
    • Requires full credit underwriting analysis to carefully evaluate the mortgage and determine if it qualifies for FHA insurance or VA guaranty


  • Caution (Conventional) - A risk class returned by Loan Product Advisor indicating the mortgage:
    • Has serious risks the lender must evaluate. Acceptable quality is unlikely
    • Requires full credit and collateral underwriting analysis. See Guide Chapter 5102 for requirements
    • Is not eligible for delivery as an A-minus mortgage, or
    • Is eligible for delivery as an A-minus mortgage. Refer to Guide Chapter 5101.9 when risk class is Caution and purchase eligibility indicates mortgage is eligible for delivery as an A-minus Mortgage

When Field Is Used: Display only
Field Location: Assignment Log page, Loan Transaction page, Unviewed Assigned/Released Loans page, Result pages, Select Loan page, Doc Checklist and Full Feedback Certificate

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S

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Sales Concessions

Definition: Contributions granted by an interested third party for which the buyer pays nothing additional

For Conventional Financing - Includes contributions such as vacations, furniture, automobiles, securities, or other giveaways granted by any interested party to the transaction, as well as financing concessions in excess of limitations set forth in the definition of Financing Concessions in Guide Section 4204.3

For FHA Financing - Any inducements to purchase must be deducted, dollar-for-dollar, prior to calculating the maximum loan-to-value (LTV) ratio. The calculation should be performed manually outside of Loan Product Advisor. For Sales or Financing Concession, the appraiser determines any appropriate adjustments for non-realty items, upgraded features in newly constructed houses, and special financing incentives. Financing concession adjustments are not deducted on a dollar-for-dollar cost basis. Any adjustments are determined by the appraiser and reflected in the appraised value. 

For FHA Loans, not to be confused with Seller Concessions data element submitted to the TOTAL Scorecard – the amount that the seller and/or interested third party contributes toward the buyer’s closing costs, prepaid expenses, discount points, UFMIP, and interest rate buydowns.

FHA Reference:  For more information on Sales Concession, Inducement to Purchase and required analysis and reporting, refer to HUD Handbook 4000.1

For VA Financing - Includes contributions the seller/builder contributes to the transaction for which the buyer pays nothing additional. These are also known as VA seller concessions and include:

  • Buyer's VA funding fee
  • Prepaid taxes and insurance
  • Extra discount points to provide permanent interest rate buydowns
  • Escrowed funds to provide temporary interest rate buydowns
  • Payoff of credit balances on behalf of the buyer
  • Any concession or combination of seller concessions that exceed four percent of the established  reasonable value of the property is considered excessive for VA loan purposes

VA Reference:  For more information about seller contributions and inducements to purchase, refer to VA Lender's Handbook

Valid Values: Numeric with two decimal places (e.g., 3456.78). This field defaults to 0 if nothing is entered
When Field Is Used: Optional
Field Location: Loan Application Data page (Details of Transaction section)

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Second Mortgage Paid Off?

Definition: Indicates if a second trust will be paid off by the refinance and rolled into the new first trust balance

Valid Values:

  • Yes - second trust will be paid off by the refinance and rolled into the new first trust balance
  • No - second trust will not be paid off by the refinance and rolled into the new first trust balance

When Field Is Used: Required if mortgage is a refinance. Default is No
Field Location: Refinance page

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Secondary Financing

Definition: A lien junior to a mortgage delivered to Freddie Mac

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Secondary Use Credit Data

Definition: Viewed credit data for the same loan application by secondary parties

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Select the Real Estate for which this Liability applies

Definition: Identifies the Real Estate Owned property in which the borrower has an ownership interest and/or for which the borrower is obligated and this liability applies
Valid Values: Select Real Estate Owned property from drop-down list
When Field Is Used: Optional. Collected on Form 65 in Section VI (Assets and Liabilities)
Field Location: Loan Application Data page (Liabilities and Real Estate Owned (REO) Breakdown - Liabilities Details)

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Selected Borrower

Definition: The borrower identified on the Feedback Certificate as the borrower whose credit reputation Loan Product Advisor most heavily relied upon when determining the risk class of the mortgage

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Selected Repository

Definition: Credit Repository providing credit information on which the Loan Product Advisor assessment was based, and which generated the repository reason codes provided on the Full Feedback Certificate

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Self Employed?

Definition: Indicates if the borrower owns 25 percent or more interest in his/her business

For more information, refer to Guide Section 5301.1 on self-employment.

When processing loans for self-employed borrowers, indicate self-employment even if the self-employment income is not used to qualify for the loan. This field defaults to No. To receive feedback specific to self-employed borrower, check the self-employed indicator on the Add Borrower Employment Details page. The indicator button defaults to No.

Valid Values:

  • Yes - borrower is self-employed
  • No (default) - borrower is not self-employed

When Field Is Used: Required. Exception: when using Employment Details, the Self Employed field in the Employment Information section becomes Display only. Collected on Form 65 in Section IV (Employment Information)
Field Location: Loan Application Data page (Borrower Information section - Employment Information and Add Borrower Employment Details)

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Self Employed Income

Definition: Borrower's total monthly self-employment income. This income is generated from any businesses in which the borrower has more than 25 percent ownership

For self-employment income to be considered for qualification purposes, enter the self-employment income on the Monthly Income Breakdown page, preferably in the Base Employment Income field. To receive feedback specific to documenting self-employment income, also check the self-employed indicator on the Add Borrower Employment Details page. The indicator button defaults to No.

Valid Values: Numeric with two decimal places (e.g., -9999999.99 to 9999999.99)
When Field Is Used: Optional for self-employed borrowers. If using Employment Details, the Self Employed Income field in the Employment Information section becomes Display only
Field Location: Loan Application Data page (Borrower Information section - Employment Information and Add Borrower Employment Details)

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Seller Name

Definition: Seller's company name. A seller is an institution approved to sell mortgages to Freddie Mac
Field Location: Loan File Setup page

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Seller Number

Definition: Freddie Mac-assigned number indicating a company approved to do business directly with Freddie Mac

Loan Product Advisor automatically enters this value on the Loan Product Advisor Main page from the User Profile page.  Loan Product Advisor enters the generic Seller Number 121555 for brokers; they cannot edit or change this number. However, a mortgage service provider (MSP) can update the number on the Loan Product Advisor Main page when entering a new loan. The Seller number cannot be updated after a LP AUS Key and Loan Application Number are affiliated with a transaction

Valid Values: Six alphanumeric characters
When Field Is Used: Required
Field Location: User Profile page

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Services Requested

Definition: Indicates services requested through Loan Product Advisor

Services may include:

  •  AUS - Indicates that Loan Product Advisor's Automated Underwriting Service assessment was requested
  • Merged Credit - Indicates that a merged credit report was requested from a credit reporting company (CRC) through Loan Prospector
  •  Reorder Credit - Indicates that a request was made for new credit for a selected borrower

When Field Is Used: Display only
Field Location:
Select Loan page, Unviewed Results page

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Sex

Definition: Borrower's gender
Valid Values:

  • Male
  • Female
  • I do not wish to provide this information

Select all values which apply to the borrower. You may choose more than one designation for each value.

When Field Is Used: Required if borrower chooses to furnish information or if application was taken face-to-face. Collected on Form 65 in Section X (Information for Government Monitoring Purposes)
Field Location: Loan Application Data page (Government Monitoring section)

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Social Security

Definition: Used to capture other types of stable monthly income not listed

For more information, refer to Guide Section 5301.1 on stable monthly income
Valid Values: Numeric with two decimal places (e.g., 0000000.00 to 9999999.99)
When Field Is Used: Optional. Collected on Form 65 in Section IV (Monthly Income - Other)
Field Location: Loan Application Data page (Employment Income section - Monthly Income Breakdown)

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Social Security Number

Definition: Borrower's Social Security Number
Valid Values: Nine-digit numeric with or without dashes (e.g., 234-24-6578 or 234246578)

Incorrect SSN, incorrectly spelled borrower name(s), extra spaces, or additional punctuation can affect the credit repository's ability to locate the accurate credit files for the borrower(s)

When Field Is Used: Required. Collected on Form 65 in Section III (Borrower Information)
Field Location: Loan Application Data page (Borrower Information section)

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Standardized Address

Definition: The subject property address submitted through Loan Product Advisor has been verified for accuracy and validity based on the U.S. Postal Service address database. The address will be returned in a standardized format in the Address Information subsection of the Full Feedback Certificate

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Start Date (Employment)

Definition: The start date for the borrowers secondary/previous employment. If the borrower had more than one job at the same time, enter the number of months worked for the one that contributed the highest income
Valid Values: Enter the date in MM/DD/YYYY format
When Field Is Used: Required if Time on Current Job is less than 24 months. Collected on Form 65 in Section IV (Employment Information)
Field Location: Loan Application Data page (Borrower Information section - Employment Details)

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State
(For: Asset or Liability Holder, Employment, Former Address, Interview, Mailing Address, Present Address, Property, Real Estate Owned (REO))

Definition:

  • Asset or Liability - State in which the asset holder or liability holder is located
  • Employment - State in which the current, secondary or previous employer is located
  • Former - Previous state/province in which the borrower resided
  • Interview - The state code of the interviewer's employer
  • Mailing - State to be used for mailing, if mailing address is different from borrower's Present Address
  • Present - State in which the borrower currently lives. This field automatically displays the borrower's property address information if the loan is a refinance and the Intended Use of Property is Primary Residence
  • Subject Property - State where the subject property is located
  • REO - State where a property referenced in Real Estate Owned is located

Valid Values: Two character state code. May also include the following codes:

  • District of Columbia = DC
  • Territories of:
    • Guam = GU
    • Puerto Rico = PR
    • US Virgin Islands = VI
  • Armed Forces (for Employer)
    • Americas (except Canada) = AA
    • Africa, Canada, Europe, Middle East = AE
    • Pacific = AP

 When Field Is Used:

  • Asset or Liability - Optional. Collected on Form 65 in Section VI (Assets and Liabilities)
  • Employment - Optional. Collected on Form 65 in Section IV (Employment Information)
  • Former - Required if Time at Present Address is less than two years
    Collected on Form 65 in Section III (Borrower Information)
  • Interview - Optional. Collected on Form 65 in Section X (Information for Government Monitoring Purposes)
  • Mailing - Optional. To be used if mailing address is different from borrower's Present Address
  • Present - Required
    Collected on Form 65 in Section III (Borrower Information)
  • Property - Required if Loan Processing Stage is beyond the first stage of prequalification. Collected on Form 65 in Section II (Property Information and Purpose of Loan)
  • REO - Optional. Collected on Form 65 in Section VI (Assets and Liabilities - Schedule of Real Estate Owned)

Field Location:

  • Asset or Liability - Loan Application Data page (Applicable Asset Detail and Liability Detail pages)
  • Employment - Loan Application Data page (Employment Details page)
  • Former - Loan Application Data page (Borrower Information section)
  • Interview- Loan Application Data page (Interview Details page)
  • Mailing - Loan Application Data (Borrower Information section)
  • Present - Loan Application Data page (Borrower Information section)
  • Property - Loan Application Data page (Property Information section)
  • REO - Loan Application Data page (Liabilities and Real Estate Owned section - Real Estate Owned Details) page

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Street Address
(For: Asset or Liability Holder, Employment, Former Address, Interview, Mailing, Present Address, Property, Real Estate Owned (REO))

Definition:
  • Asset or Liability - street address for the referenced asset holder or liability holder
  • Employment - street address of the current, secondary, or previous employer
  • Former - the previous street address of borrower
  • Interview - street address of the interviewer's employer
  • Mailing - street address to be used for mailing. This field should be filled in only if different from borrower's Present Address
  • Present - current street address of the borrower. This field automatically displays the borrower's property address information if the loan is a refinance and the Intended Use of Property is primary residence
  • Property - street address of the subject property
  • REO - street address for a property referenced in Real Estate Owned

Valid Values: Alphanumeric characters. Do not use any punctuation when entering address information

When Field Is Used:

  • Asset or Liability- Optional. Collected on Form 65 in Section VI (Assets and Liabilities)
  • Employment - Optional. Collected on Form 65 in Section IV (Employment Information)
  • Former - Required if Time at Present Address is less than two years. Collected on Form 65 in Section III (Borrower Information)
  • Interview - Optional. Collected on Form 65 in Section X (Information for Government Monitoring Purposes)
  • Mailing - Optional. To be used if Mailing Address is different from borrower's Present Address
  • Present - Required
    Collected on Form 65 in Section III (Borrower Information)
  • Property - Required if Loan Processing Stage is beyond the first stage of prequalification. Collected on Form 65 in Section II (Property Information and Purpose of Loan)
  • REO - Optional. Collected on Form 65 in Section VI (Assets and Liabilities - Schedule of Real Estate Owned)

Field Location:

  • Asset or Liability - Loan Application Data page (Applicable Asset Detail and Liability Detail pages)
  • Employment - Loan Application Data page (Employment Details page)
  • Former - Loan Application Data page (Borrower Information section)
  • Interview- Loan Application Data page (Interview Details page)
  • Mailing - Loan Application Data page (Borrower Information section)
  • Present - Loan Application Data page (Borrower Information section)
  • Property - Loan Application Data page (Property Information section), Property Valuation Disclosure Form for Loan Product Advisor
  • REO - Loan Application Data page (Liabilities and Real Estate Owned section - Real Estate Owned Details) page

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Street Address 2 (Interview)

Definition: The street address of the interviewer's employer
Valid Values: Alphanumeric characters. Do not use any punctuation when entering address information
When Field Is Used:
Optional. Collected on Form 65 in Section X (Information for Government Monitoring Purposes)
Field Location: Loan Application Data page (Interview Details section)

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Subject Property?

Definition: Indicates whether the property referenced in Real Estate Owned in which the borrower has an ownership interest and/or for which the borrower is obligated is the subject property
Valid Values:

  • Yes - property listed in Real Estate Owned is the subject property
  • No - property listed in Real Estate Owned is not the subject property

When Field Is Used: Required if liability reported. Collected on Form 65 in Section VI (Assets and Liabilities - Schedule of Real Estate Owned)
Field Location: Loan Application Data page (Liabilities and Real Estate Owned (REO) section, Liabilities and REO Breakdown - Real Estate Owned Details)

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Subject Property Net Cash Flow

Definition: The anticipated rent on the subject property if it is an investment property or a 2- to 4-unit property where other units are rented
Valid Values: Numeric with two decimal places (e.g., -9999999.99 to 9999999.99)
When Field Is Used: Optional. Collected on Form 65 in Section IV (Monthly Income)
Field Location: Loan Application Data page (Borrower Information section - Monthly Income Breakdown)

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Submitting Company

Definition: Name of the company that submits the loan to Loan Product Advisor
When Field Is Used: Display only
Field Location: Full Feedback Certificate

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Subordinate Amount

Definition: Total amount of subordinate financing. This is the total amount of financing by type of debt secondary to this loan, including HELOC current balances.
Valid Values: Numeric with two decimal places (e.g., 12456.78)
When Field Is Used: Required if secondary financing is part of any transaction. Collected on Form 65 in Section VII (Details of Transaction - line j)
Field Location: Loan Application Data page (Details of Transaction section)

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Subsequent Adjustment Percentage

Definition: Percentage change in the temporary subsidy buydown rate at each adjustment period after the initial adjustment. For instance, if the interest rate will increase 1 percent after the initial adjustment, enter 1.000 in this field
Valid Values: Numeric with four decimal places
When Field Is Used: Required if loan includes a Temporary Subsidy Buydown
Field Location:
Buydown page

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Suffix

Definition: The name suffix of borrower
Valid Values: Up to 4 alphanumeric characters. (i.e., JR = Junior, SR = Senior, etc.)
When Field Is Used: Optional. Collected on Form 65 in Section III (Borrower Information)
Field Location: Loan File Setup page (Borrower Setup section) and Loan Application Data page (Borrower Information section)

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T

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Temporary Subsidy Buydown?

Definition: Money paid by the borrower or a third party to pay down the interest rate (reducing the borrower's monthly payment) for a specific period of time. A temporary subsidy buydown can be included with either a fixed loan or an adjustable loan; it does not affect the Plan Type
Valid Values:

  • Yes - loan includes a Temporary Subsidy Buydown
  • No - loan does not include a Temporary Subsidy Buydown

When Field Is Used: Required if mortgage is a Temporary Subsidy Buydown. The default is No
Field Location: Loan Application Data page (Mortgage Type and Loan Terms section)

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This application was taken by

Definition: Specifies the method used to take the application as determined by the interviewer
Valid Values:

  • Face-to-face Interview
  • By Mail
  • By Telephone
  • By Internet

When Field Is Used: Optional. Collected on Form 65 in Section X (Information for Government Monitoring Purposes)
Field Location: Loan Application Data page (Interview Details)

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Time on Current Job (Months)

Definition: The number of months beyond the most recent completed full year of employment the applicant is/has been employed by the employer. If the borrower has more than one job, enter the number of months worked for the one that contributes the highest income
Valid Values: Up to two digit numeric (e.g., 05)
When Field Is Used: Optional
Field Location: Loan Application Data page (Borrower Information section - Employment Details)

 

Time on Current Job (Years)

Definition: The number of complete years of service to an employer from the start of the employment until the end of the employment period, or if the current position, until the date of the loan application. If the borrower has more than one job, enter the number of years worked for the one that contributes the highest income
Valid Values: Up to two digit numeric (e.g., 12). If borrower is not employed or is a homemaker, enter 0
When Field Is Used: Optional. Collected on Form 65 in Section IV (Employment Information)
Field Location: Loan Application Data page (Borrower Information section - Employment Details)

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Title will be held in what name(s)

Definition: Name(s) of the individual or entity that will hold title to the property
Valid Values: Up to 60 alphanumeric characters
When Field Is Used: Optional. Collected on Form 65 in Section II (Property Information and Purpose of Loan)
Field Location: Loan Application Data page (Purpose of Loan section)

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TLTV

Definition: The total loan-to-value (TLTV) ratio provided by Loan Product Advisor is obtained by dividing the sum of the First Lien Mortgage amount and the disbursed amount of the Home Equity Line of Credit (HELOC) and any other secondary financing by the lesser of the property's purchase price or appraised value
When Field Is Used: Display only
Field Location: Full Feedback Certificate

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Total Gift Fund

Definition: Money given to borrower(s) to assist with the down payment, closing costs and prepaids. This includes gift funds received AND those not yet received


For Home Possible Mortgages with Affordable Seconds, the amount of the Affordable Second may be entered in the “Total Gift Fund” field instead of the “Subordinate Amount” field under certain circumstances.  Refer to Guide Chapter 4501 for more information

Valid Values: Numeric with two decimal places (e.g., 3456.78). This field defaults to 0 if nothing is entered
When Field Is Used: Required if gift funds are used for this transaction and are reflected in the Asset Section of the Form 65. Exception: When using Asset Breakdown, this field becomes display only and will auto-populate from the information provided in the Asset Breakdown
Field Location: Loan Application Data page (Assets and Reserves section)

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Total Monthly Debt

Definition: Total monthly debt of all borrowers on the loan application, including non-occupant co-borrowers

The components of total debt may differ depending on the occupancy type and co-borrower occupancy status for the subject loan. Calculate Total Monthly Debt as the sum of the monthly charges for the following: 

  • Monthly housing expense (see Guide Section 5401.1)
  • Payments on all installment debts with more than 10 months of payments remaining, including debts that are in a period of either deferment or forbearance. For student loans and other installment debt, see Guide Section 5401.2(a)
  • Alimony, child support, or maintenance payments, with more than 10 months of payments remaining
  • Monthly payments on revolving or open-end accounts, regardless of the balance. In the absence of a monthly payment on the credit report, and if there is no documentation in the Mortgage file indicating the monthly payment amount, 5% of the outstanding balance will be considered to be the required monthly payment amount. Monthly payments on open-end accounts (accounts which require the balance to be paid in full monthly) are not required to be included in the monthly debt payment if the Borrower has sufficient verified funds to pay off the outstanding account balance. The funds must be in addition to any funds required for down payment, Closing Costs, Financing Costs, Prepaids/Escrows or reserves, as applicable
  • Car lease payments, regardless of the number of payments remaining
  • Refer to Guide Chapter 5306 for requirements for treatment of mortgage debt when using rental income
  • Monthly payment amounts for other properties including principal and interest on the first lien and any secondary financing, taxes and insurance and, when applicable, mortgage insurance premiums, leasehold payments, homeowners association dues (excluding unit utility charges).

    Refer to Section 5401.2(b) for special requirements pertaining to contingent liabilities

For FHA and VA loans, refer to the HUD Handbook 4155, FHA’s TOTAL Mortgage Scorecard User Guide, or VA Lender's Handbook, as applicable, for additional information, as well as for debt with <10 months remaining

Valid Values: Numeric with two decimal places (e.g., 2456.78)
When Field Is Used: Required. Exception: when using Liability and Real Estate Owned (REO) Breakdown, this field becomes display only and will auto-populate from the information provided in the Liability and REO Breakdown
Field Location: Loan Application Data page (Liabilities and REO section)

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Transaction

Definition: Copy of loan information created during each submission of loan data to Loan Product Advisor. Each copy can be viewed and assigned, and have its own results associated with it

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Transaction ID

Definition: A Freddie Mac generated identifier that indicates the unique transaction number for the loan. Only the last transaction of a loan can be modified or assigned to a wholesaler
Valid Values: Eight to twelve numeric characters beginning with the letter T
When Field Is Used: Display only
Field Location: Loan File Setup page, Select Loan page, Loan Application Data page, Request Services page, Assign Loan page, Assignment Log page, Adjustable Rate Mortgage page, FHA page, VA page, Buydown page, Refinance page, Loan Transactions page, Unviewed Results page, and Doc Checklist

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Trust Income

Definition: Used to capture other types of stable monthly income not listed

For more information, refer to Guide Section 5301.1 on stable monthly income
Valid Values: Numeric with two decimal places (e.g., 0000000.00 to 9999999.99)
When Field Is Used: Optional. Collected on Form 65 in Section IV (Monthly Income - Other)
Field Location: Loan Application Data page (Employment Income section - Monthly Income Breakdown)

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Type of Property

Definition: Specifies the type of dwelling or structure for the property in which the borrower has an ownership interest and/or for which the borrower is obligated
Valid Values:

  • Single Family
  • Condominium
  • Townhouse
  • Co-operative
  • Two to Four Unit Property
  • Multifamily - More than 4 Units
  • Manufactured / Mobile Home
  • Commercial - Non-Residential
  • Mixed Use - Residential
  • Farm
  • Home and Business Combined
  • Land

When Field Is Used: Optional. Collected on Form 65 in Section VI (Assets and Liabilities - Schedule of Real Estate Owned)
Field Location: Loan Application Data page (Liabilities and Real Estate Owned (REO) section, Liabilities and REO Breakdown - Real Estate Owned Details)

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U

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Unemployment/Welfare

Definition: Used to capture other types of stable monthly income not listed

For more information, refer to Guide Section 5301.1 on stable monthly income
Valid Values: Numeric with two decimal places (e.g., 0000000.00 to 9999999.99)
When Field Is Used: Optional. Collected on Form 65 in Section IV (Monthly Income - Other)
Field Location: Loan Application Data page (Employment Income section - Monthly Income Breakdown)

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Underwriting Score

Definition: The one credit score selected from all usable credit scores obtained for an individual borrower that quantifies the credit reputation risk for that individual borrower

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Unpaid Balance

Definition: The dollar amount of the current outstanding balance on the borrower's liability type
Valid Values: Numeric with two decimal places (e.g., 1234.56)
When Field Is Used: Required if liability reported. Collected on Form 65 in Section VI (Assets and Liabilities)
Field Location: Loan Application Data page (Liabilities and Real Estate Owned (REO) section - Liabilities Details)

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V

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VA Benefits (Non-educational)

Definition: Used to capture other types of stable monthly income not listed

For more information, refer to Guide Section 5301.1 on stable monthly income
Valid Values: Numeric with two decimal places (e.g., 0000000.00 to 9999999.99)
When Field Is Used: Optional. Collected on Form 65 in Section IV (Monthly Income - Other)
Field Location: Loan Application Data page (Employment Income section - Monthly Income Breakdown)

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VA Case Number

Definition: The VA-assigned case number for VA loans. The number is used by VA to identify the loan
Valid Values: Alphanumeric characters
When Field Is Used: Required if VA loan. Collected on Form 65 in Section I (Type of Mortgage and Terms of Loan)
Field Location: VA page

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VA Household Size

Definition: Number of people that meet VA's definition of household size, per the VA Lender's Handbook. This is typically the number of people for whom the veteran borrower is responsible
Valid Values: Numeric (e.g., 5)
When Field Is Used: Required for VA loans
Field Location: VA page

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VA Residual Income

Definition: Monthly balance of funds available for family support after meeting the borrowers' shelter expenses, debts, and taxes, per the VA Lender's Handbook

This number must be calculated per VA Form 6393 and submitted. Residual requirements for Loan Product Advisor loans are not always the same as those required for traditional VA underwriting

Valid Values: Numeric with two decimal places (e.g., 456.78). May contain negative value
When Field Is Used: Required for VA loans
Field Location: VA page

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Variable Housing Allowance

Definition: Monthly military income for the borrower

For more information, refer to Guide Section 5301.1 on stable monthly income
Valid Values: Numeric with two decimal places (e.g., 0000000.00 to 9999999.99)
When Field Is Used: Optional. Collected on Form 65 in Section IV (Monthly Income - Other)
Field Location: Loan Application Data page (Employment Income section - Monthly Income Breakdown)

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W

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What is the borrower's citizenship?

Definition: Specifies the borrower's current Immigration and Naturalization Service (INS) status

Loan Product Advisor does not edit or provide results for non-permanent residents. You must represent and warrant that all borrowers are legal residents of this country

Valid Values:
  • US citizen
  • Permanent Resident Alien
  • Non-permanent Resident Alien

When Field Is Used: Required. Collected on Form 65 in Section VIII (Declarations - lines j and k)
Field Location: Loan Application Data page (Declarations section)

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What Type of Property?

Definition: Follow-up question to "Has the borrower had an ownership interest in a property in the last 3 years?" and is the borrower's answer to the question: What type of property did you own?
Valid Values:

  • Primary Residence - Residence that the owner physically occupies and uses as his or her home
  • Secondary Residence - A property purchased for occupancy by the owner but is not the primary residence. Usually for recreational properties
  • Investment - The purchase of a home for the purpose of generating income by renting the property to tenants

When Field Is Used: Conditional if borrower had an ownership interest in a property in the last 3 years. Collected on Form 65 in Section VII (Declarations - line m1)
Field Location: Loan Application Data page (Declarations section)

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Wholesaler

Definition: A lender who purchases mortgages that a Mortgage Broker or Correspondent completely or partially originated, processed, underwrote, packaged, funded or closed, and sold or assigned to a Seller who subsequently sold it to Freddie Mac, rather than working directly with consumers
Field Location: Assign Loan page

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Y

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Year

Definition: The model year of the borrower's vehicle disclosed as an asset
Valid Values: Four digit numeric in CCYY format, where CC is the century and YY is the year
When Field Is Used: Optional. Collected on Form 65 in Section VI (Assets and Liabilities)
Field Location: Loan Application Data page (Asset and Reserves - Asset Details)

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Year Acquired

Definition: Year in which the subject property (land and improvements) was acquired by borrower, or year in which the land was acquired if a Construction Conversion Mortgage.  
Valid Values: Four-digit numeric in CCYY format, where CC is the century and YY is the year (e.g., 1998)
When Field Is Used: Required if the loan is a refinance. Collected on Form 65 in Section II (Property Information and Purpose of Loan)
Field Location: Refinance page

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Year Built

Definition: Year in which the subject property was built
Valid Values: Four digit numeric in the form CCYY, where CC is the century and YY is the year
When Field Is Used: Optional
Collected on Form 65 in Section II (Property Information and Purpose of Loan)
Field Location: Loan Application Data page (Property Information section)

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Years at Residence
(for Present or Former Address)

Definition: Number of years borrower has lived at present or former address

If borrower(s) has lived at present address less than two years, former address information is required

Valid Values: Numeric. For example, if the borrower has lived in the residence for 2 years and 3 months, enter '2' in the Years at Residence field and '3' in the Months at Residence field. If time at address is less than 1 year, enter '0' in this field and the number of months in the Months at Residence field.
When Field Is Used: Required for Present Address. Required for Former Address if time at Present Address is less than 24 months. Collected on Form 65 in Section III (Borrower Information)
Field Location: Loan Application Data (Borrower Information section)

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Years Employed in this Line of Work

Definition: The total number of years the borrower has been employed in their occupation
Valid Values: Numeric
When Field Is Used: Optional. Collected on Form 65 in Section IV (Employment Information)
Field Location: Loan Application Data page (Borrower Information section - Employment Details)

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Years of School

Definition: The number of years the borrower attended school
Valid Values: Up to two digit numeric (e.g., 15)
When Field Is Used: Optional. Collected on Form 65 in Section III (Borrower Information)
Field Location: Loan Application Data page (Borrower Information section)

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Z

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Zip Code
(For: Asset or Liability Holder, Employment, Former Address, Interview, Mailing Address, Present Address, Property, Real Estate Owned (REO))

Definition:

  • Asset or Liability - Zip/US Postal Code of the asset or liability holder
  • Employment - Zip/US Postal Code of the primary, secondary or previous employer
  • Former Address - Zip/Postal code of borrower's previous address
  • Interview - Zip/Postal code of the employer that the interviewer represents when taking the application
  • Mailing - Zip/Postal Code to be used for mailing, if mailing address is different from borrower's Present Address
  • Present Address - Zip/Postal code of the borrower's current residence. This field automatically displays the borrower's property address information if the loan is a refinance and the Occupancy Type is owner-occupied
  • Property - Zip/Postal code of the subject property address
  • REO - Zip/Postal code of a property referenced in Real Estate Owned

Valid Values: Up to nine digit numeric without hyphens (e.g., 234249987)

Alphanumeric characters and hyphens are acceptable when the country is other than the United States

When Field Is Used:

  • Asset or Liability - Optional. Collected on Form 65 in Section VI (Assets and Liabilities)
  • Employment - Optional. Collected on Form 65 in Section IV (Employment Information)
  • Former - Required if Time at Present Address is less than two years and Country = US. Collected on Form 65 in Section III Borrower Information).
  • Interview - Optional. Collected on Form 65 in Section X (Information for Government Monitoring Purposes)
  • Mailing - Optional. To be used if mailing address is different from borrower's Present Address
  • Present - Required. Collected on Form 65 in Section III (Borrower Information)
  • Property - Required if Loan Processing Stage is beyond the first stage of prequalification. Collected on Form 65 in Section II (Property Information And Purpose Of Loan)
  • REO - Optional. Collected on Form 65 in Section VI (Assets and Liabilities - Schedule of Real Estate Owned)

Field Location:

  • Asset or Liability - Loan Application Data page (Applicable Asset Detail and Liability Detail pages)
  • Employment - Loan Application Data page (Employment Details page)
  • Former - Loan Application Data page (Borrower Information section)
  • Interview- Loan Application Data page (Interview Details page)
  • Mailing - Loan Application Data page (Borrower Information section)
  • Present- Loan Application Data page (Borrower Information section)
  • Property - Loan Application Data page (Property Information section)
  • REO - Loan Application Data page (Liabilities and Real Estate Owned section - Real Estate Owned Details) page

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