Delivering Home Possible Mortgages With Alphanumeric Special Characteristics Codes

Freddie Mac's Home Possible® Mortgages provide you more opportunities to serve more low-to-moderate income borrowers and borrowers in underserved areas. To ensure the Home Possible Mortgages you deliver are identified correctly in our systems, you'll need to provide one of the following Special Characteristic Codes (SCCs):

• G00 = Home Possible 97
• G01 = Home Possible Neighborhood Solution 97
• G02 = Home Possible 100
• G03 = Home Possible Neighborhood Solution 100

The Home Possible SCCs use an alphanumeric format. It's come to our attention that several loan origination and custom systems are not able to support alphanumeric SCCs in MIDANET and selling system import files. To address this issue, we recommend that you:

• First, check with your loan origination system (LOS) vendor to find out if your system supports alphanumeric SCCs. If your system doesn't support the alphanumeric format, you'll need to manually enter the appropriate Home Possible SCC:
  • For the selling system, after importing loan data,
    • Select Loan Pipeline from the left navigation bar
    • Enter your Seller Loan Number
    • Select the Loan Number that you need to modify
    • Scroll down the page to find the SCC field and enter the appropriate code
    • Select Save
  • For MIDANET, after importing loan data, from the Midanet Main Menu,
    • Enter 1-Single Family Mortgages
    • Enter 1-Process Mortgage Delivery
    • Enter 1-Enter Mortgage Detail
    • Enter "U" (Update), enter either FM Loan Number OR Seller Loan Number
    • Tab down to the SCC field and enter the appropriate code in one of the fields from the Mortgage Detail screen

Going forward, we'll continue to assign alphanumeric SCCs to new products and offerings. We're working closely with LOS vendors to ensure their systems' ability to support alphanumeric SCCs and encourage you to follow up with your vendors to ensure they update their systems to support the new format.

For further details on our Home Possible Mortgages, please visit www.freddiemac.com/homepossible/.