| Date |
Change |
Link |
| 6/24/09 |
Loan Prospector June 14 Release
On June 14 Loan Prospector was updated to:
- Add new and updated existing feedback messages to reflect requirement changes announced in recent Single-Family Seller/Servicer Guide (Guide) Bulletins
- Allow the Federal Housing Administration (FHA) and Department of Veterans Affairs (VA) new construction loans to be assessed through Loan Prospector
- Add new and revised feedback messages to support updates to the credit requirements for super conforming mortgages outlined in Guide Bulletin 2009-09
The following easy-to-print references have been updated to reflect these changes:
- Loan Prospector Access Methods at a Glance
- Loan Prospector Feedback Messages
- Loan Prospector Functionality Guide
- Loan Prospector - How to Enter a Loan for Mortgages for Newly Constructed Homes
- Ordering Merged Credit (LoanProspector.com System-to-System Access)
- Processing FHA TOTAL and VA Mortgages
- Using Loan Prospector Merged Credit Report Options (Loan Prospector Browser Access Method)
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| 06/10/09 |
Loan Prospector Feedback Messages
To help you address the impact at origination of several of our recent requirement changes, Loan Prospector will be updated on June 14 with new and updated feedback messages and new capabilities to assess FHA and VA new construction loans. |
[PDF
494K] |
| 05/18/09 |
Appraisal Review Reminders
This easy to print reference was updated to include a reminder on the Home Valuation Code of Conduct requirements as announced in the January 7, 2009 and March 31, 2009 Single-Family Seller/Servicer Guide Bulletins. |
[PDF
55K] |
| 05/13/09 |
Loan Prospector Documentation Matrix
This easy-to-print reference was updated to reflect the recent change to the mortgage payment history requirements for A-minus Mortgages announced in the March 31, 2009 Single-Family Seller/Servicer Guide Bulletin. |
[PDF
94K] |
| 05/06/09 |
Freddie Mac Relief Refinance Mortgages
This easy-to-print reference was updated to reflect changes and clarifications made since the March 4, 2009 Single-Family Seller/Servicer Guide Bulletin announcement. |
[PDF
112K] |
| 04/29/09 |
Condo Project Eligibility & Seller Warranties
This updated 90-minute interactive webinar will provide originators, processors and underwriters with a high-level overview of Freddie Mac's requirements for Condominium Unit Mortgages, including recently announced changes. In this session, we'll take a look at eligible project types and required warranties the Seller must make to sell these mortgages to Freddie Mac. |
90 min webinar |
| 04/29/09 |
Super Conforming Processing Reminders for Loan Prospector Mortgages
The April 16, 2009 Single-Family Seller/Servicer Guide Bulletin announced several changes to Freddie Mac's super conforming mortgage offering. Loan Prospector is being updated to reflect these changes in a phased approach beginning in late May 2009. Until all updates are complete, you must complete a manual review of the mortgage file to ensure the mortgage meets the revised requirements for sale to Freddie Mac. Use this job aid as a tool to help in your manual review process. |
[PDF 141K] |
| 04/21/09 |
Condominium Unit Mortgages
These easy-to-print references reflect a variety of updates to the credit requirements for Condominium Unit Mortgages announced in the March 31, 2009, Single-Family Seller/Servicer Guide Bulletin. These changes are effective for Freddie Mac settlements on and after July 1, 2009.
- Condominium Unit Mortgages – Project Analysis
- Freddie Mac Condominium Unit Mortgages
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[PDF
133K]
[PDF
102K] |
| 04/16/09 |
Underwriting Reminders for Loan Prospector Caution Risk Class Mortgages
As we continue to align our credit terms with the risks of today's market, we have introduced many changes to our credit requirements. With this in mind, we are providing more learning tools to help clarify these requirements. This new quick reference provides helpful reminders for underwriting credit and capacity for mortgages receiving a Caution risk class from Loan Prospector. |
[PDF 79K] |
| 04/07/09 |
Seller Responsibilities for the Home Valuation Code of Conduct
This new 36-minute recorded webinar provides you with a detailed review of the December 2008 Home Valuation Code of Conduct (Code). Use this session to help you better understand key elements of the Code as you prepare for changes you may need to make within your organization. |
36 min webinar |
| 03/23/09 |
Learn How to Use the New Market Conditions Addendum Form
The Market Conditions Addendum (Form 1004MC) is designed to enhance the transparency of the market trends and conditions conclusions made by the appraiser. The Market Conditions Addendum will be required with all one- to four-unit property appraisals performed on or after April 1, 2009. Gain an understanding and recognize the sources of market information necessary to analyze market conditions through this new recorded training. It is organized to address the Market Conditions Addendum (Form 1004MC), section by section. |
26 min webinar |
| 03/11/09 |
Freddie Mac Relief Refinance Mortgage
This new job aid provides details on the Freddie Mac Relief Refinance Mortgages offering that Freddie Mac will purchase under the terms of the Single-Family Seller/Servicer Guide Chapter A24 and your other Purchase Documents. |
[PDF 112K] |
| 03/04/09 |
Processing FHA TOTAL and VA Mortgages
This reference was updated to reflect the Federal Housing Administration (FHA) revised requirements for Statutory Investment down payment. FHA is increasing the Statutory Investment requirement for all purchase transactions from 3.0 percent to 3.5 percent for FHA Case Numbers issued on or after January 1, 2009. For more details on this change, refer to the news article on LoanProspector.com. |
[PDF
902K] |
| 03/02/09 |
Loan Prospector® – How It Works
This 30-minute recorded webinar will introduce origination, processing, and underwriting staff to the basic information they will need to begin using Loan Prospector®, Freddie Mac's automated underwriting service. |
30 min webinar |
| 02/26/09 |
Loan Prospector® Feedback Message Changes
On March 1, to help you manage the impact at origination of several of our recent credit requirement changes, Loan Prospector will be updated to reflect the revised maximum LTV ratios for Home Possible® Mortgages, the elimination of most 40-year mortgages and a new purchase-restriction feedback message. |
[PDF 32K] |
| 02/25/09 |
Avoiding High-Cost Home Loan Repurchases
This interactive webinar discusses Freddie Mac's position regarding predatory lending and reviews the anti-predatory lending requirements stated in Freddie Mac's Single-Family Seller/Servicer Guide. |
90 min webinar |
