Conventional Loan Processing Information Feedback Messages
The Loan Processing Information feedback messages will assist you in validating information transmitted to Loan Prospector. These messages appear on the Feedback Certificate in the Loan Processing Information section.
Updated: November 2012
Code
Conventional Loan Processing Information Feedback Messages
47
Credit Risk and Documentation Class are informational since the loan amount exceeds Freddie Mac’s limits.
2X
The Credit Scores for {Borr1} are {Borr1FICORep}. The Underwriting Score is {Borr1SelRepo} {Borr1SelFICO}.
2Y
The Credit Scores for {Borr2} are {Borr2FICORep}. The Underwriting Score is {Borr2SelRepo} {Borr2SelFICO}.
2Z
The Credit Scores for {Borr3} are {Borr3FICORep}. The Underwriting Score is {Borr3SelRepo} {Borr3SelFICO}.
3D
The Credit Scores for {Borr4} are {Borr4FICORep}. The Underwriting Score is {Borr4SelRepo} {Borr4SelFICO}.
3E
The Credit Scores for {Borr5} are {Borr5FICORep}. The Underwriting Score is {Borr5SelRepo} {Borr5SelFICO}.
3F
Credit was re-ordered for {BorrOrder}.
3G
LP Assessment Expiration date of this loan is {RepulExpDate}.
3L
Merged Credit Reference Number for ~Borr1~ is ~Borr1MCRN~.
4B
{Selected Credit Score} is the Loan Prospector Indicator Score from {Selected Repository} for {Selected Borrower}.
5X
Address entered matched to; “dynamic street name”, “dynamic city name”, “dynamic state name”, “dynamic zip code”, “dynamic county name”. Please confirm accuracy.
5Y
Unable to match address entered. Please confirm accuracy and resubmit if necessary.
Merged Credit Reference Number for ~Borr2~ is ~Borr2MCRN~.
6L
Merged Credit Reference Number for ~Borr3~ is ~Borr3MCRN~.
6M
Merged Credit Reference Number for ~Borr4~ is ~Borr4MCRN~.
6N
Merged Credit Reference Number for ~Borr5~ is ~Borr5MCRN~.
7B
Credit for ~borr1 name~ was requested due to a change in borrower data.
7C
Credit for ~borr2 name~ was requested due to a change in borrower data.
7D
Credit for ~borr3 name~ was requested due to a change in borrower data.
7E
Credit for ~borr4 name~ was requested due to a change in borrower data.
7F
Credit for ~borr5 name~ was requested due to a change in borrower data.
7G
Credit for ~borr1 name~ was requested due to a change in borrower order.
7H
Credit for ~borr2 name~ was requested due to a change in borrower order.
7J
Credit for ~borr3 name~ was requested due to a change in borrower order.
7K
Credit for ~borr4 name~ was requested due to a change in borrower order.
7L
Credit for ~borr5 name~ was requested due to a change in borrower order.
7M
Credit for ~borr1 name~ was requested due to a Reorder Credit request.
7N
Credit for ~borr2 name~ was requested due to a Reorder Credit request.
7R
The stated income and assets must be considered reasonable and consistent with the borrower’s profession.
7S
If the Mortgage file contains documentation evidencing income that is considered incidental to the underwriting decision, further review of the documentation as a factor in the underwriting decision is not required unless the income indicated in the documentation causes Seller to question the reasonableness or consistency of the stated income amount.
7T
Credit for ~borr3 name~ was requested due to a Reorder Credit request.
7U
Credit for ~borr4 name~ was requested due to a Reorder Credit request.
7V
Credit for ~borr5 name~ was requested due to a Reorder Credit request.
7W
Credit for ~borr1 name~ was requested due to a change in CRC.
7X
Credit for ~borr2 name~ was requested due to a change in CRC.
7Y
Credit for ~borr3 name~ was requested due to a change in CRC.
7Z
Credit for ~borr4 name~ was requested due to a change in CRC.
8L
Credit for ~borr5 name~ was requested due to a change in CRC.
8M
Credit for ~borr1 name~ was requested due to credit freshness expiration.
8N
Credit for ~borr2 name~ was requested due to credit freshness expiration.
8P
Credit for ~borr3 name~ was requested due to credit freshness expiration.
8Q
Credit for ~borr4 name~ was requested due to credit freshness expiration.
8R
Credit for ~borr5 name~ was requested due to credit freshness expiration.
8W
Credit for ~borr5 name~ was requested due to a change to the merged credit request.
8X
Credit for ~borr1 name~ was requested due to an order for Joint Merged credit.
8Y
Credit for ~borr2 name~ was requested due to an order for Joint Merged credit.
8Z
Credit for ~borr3 name~ was requested due to an order for Joint Merged credit.
9H
For purchase transactions verify borrower(s) has minimum 3% in the transaction towards down payment from borrower’s personal funds.
9P
Credit for ~borr4 name~ was requested due to an order for Joint Merged credit.
9Q
Credit for ~borr5 name~ was requested due to an order for Joint Merged credit.
DX
Verify occupant borrower(s) has minimum 5% down payment, {5% of purchase price} , from his/her own funds.
DZ
2-4 Unit Primary Residence: Regardless of whether rental income from the subject property is used in qualifying the borrower, verify reserves equal to 6 months (PITI) for the subject property, $~PITI6Mths~.
E0
Review for accuracy: Difference between loan amount and unpaid principal balance, {$Loan Amount - Unpaid Principal Balance} , appears to result in cash-out to borrower.
E5
1-4 Unit Investment Properties: Verify 6 months reserves, $~PITI6Mths~ for the subject property and 2 months reserves (PITI) for each other financed Second Home and/or 1- to 4-unit Investment Property that the borrower owns and/or is obligated on the Note.
EA
Review for accuracy: Loan is a refinance on a primary residence and {Borrower 1} indicates occupancy, but property address differs from his/her current address.
EB
Review for Accuracy: Loan is a refinance on a primary residence and {Borrower 2} indicates occupancy, but property address differs from his/her current address.
EC
Review for accuracy: Loan is a refinance on a primary residence and {Borrower 3} indicates occupancy, but property address differs from his/her current address.
ED
Review for accuracy: Loan is a refinance on a primary residence and {Borrower 4} indicates occupancy, but property address differs from his/her current address.
EE
Review for accuracy: Loan is a refinance on a primary residence and {Borrower 5} indicates occupancy, but property address differs from his/her current address.
EF
Review for accuracy: Social security number for {Borrower 1} does not fall within normal parameters.
EG
Review for accuracy: Social security number for {Borrower 2} does not fall within normal parameters.
EH
Review for accuracy: Social security number for {Borrower 3} does not fall within normal parameters.
EJ
Review for accuracy: Social security number for {Borrower 4} does not fall within normal parameters.
EK
Review for accuracy: Social security number for {Borrower 5} does not fall within normal parameters.
EL
Review for accuracy: Submitted PITI of {$PITI} appears to be in error.
EM
Buydown may not be permitted with product type.
EP
Buydown may not be permitted with 2-4 unit properties.
EQ
Review for accuracy: This loan was submitted with zero reserves.
ER
Review investment quality: Caution risk class is a strong indication of excessive layering of risk and investment quality is unlikely.
ES
Review for accuracy: Property type was not submitted as condo, however condo development name was provided.
ET
Review for accuracy: Property type was not submitted as condo, however condo class was provided.
EX
The information in this section is for validation purposes only. For documentation requirements, please refer to the Documentation Guidelines section on this feedback certificate.
EY
This loan was submitted as a cash-out refinance with cash-out amount of {$cash-out amount}.
EZ
This loan was submitted as a no cash-out refinance.
G0
This loan was submitted with {$asset type - depository} in depository accounts (checking, savings and/or money market).
G1
This loan was submitted with {$reserves} in reserves.
G2
This loan was submitted with {$asset type - gift funds} in gift funds.
G3
This loan was submitted with {$asset type - stock} in stocks and/or bonds.
G4
This loan was submitted with {$asset type - retirement} in retirement accounts.
G5
This loan was submitted with net proceeds of {$asset type - sale of home} from the sale of a home.
HY
When an appraisal is obtained for Relief Refi Open Access, Seller is not responsible for value, condition and marketability reps and warranties of Mortgaged Premises. Seller must meet all other requirements of Ch.44, except that, Seller is not responsible for completeness and accuracy of the appraiser's Mortgaged Premises description, and the accuracy of and support for, the appraiser's opinion of market value of Mortgaged Premises specified in Sec. 44.15.
HV
Review for Accuracy: Loan was submitted with buydown plan and fixed-rate Mortgage; Borrower must be qualified using monthly housing payment calculated at the Note Rate.
HW
Review for Accuracy: Loan was submitted with buydown plan and adjustable rate Mortgage; Borrower must be qualified using monthly housing payment calculated at the higher of the Note Rate or the fully indexed rate.
HX
For super conforming Mortgages with a LTV/TLTV/HTLTV >80% and a loan amount of $625,500, Form 1032 is required.
JB
Verify borrower(s) has minimum 3% down payment, (3% of value), from borrower's personal funds in the transaction toward down payment, closing costs, financing costs or prepaids/escrows.
JC
Verify borrower(s) has minimum 5% down payment, (5% of value), from borrower's personal funds in the transaction towards down payment, closing cost, financing costs or prepaids/escrows.
JD
Home Possible loan amount limited to outstanding unpaid principal balance of existing first mortgage rounded up to nearest $100 for 2-4 Unit No Cash Out Refinances.
JE
No reserves required; however, reserves may strengthen loan quality.
JF
2-4 Unit Properties: If rental income is considered in qualifying the borrower, verify at least two months of reserves ($PITI x 2) for Home Possible.
JZ
You are using an interface that is not HMDA compliant. Please contact your LOS vendor to update your interface. You will no longer be able to submit loans via this interface after July 31, 2005.
K9
[dynamic element] is the Area Median Income for the address submitted.
TV
LP Assessment Expiration Date for ~Borr1~ is ~Borr1CrExDt~.
TW
LP Assessment Expiration Date for ~Borr2~ is ~Borr2CrExDt~.
TX
LP Assessment Expiration Date for ~Borr3~ is ~Borr3CrExDt~.
TY
LP Assessment Expiration Date for ~Borr4~ is ~Borr4CrExDt~.
TZ
LP Assessment Expiration Date for ~Borr5~ is ~Borr5CrExDt~.
U0
The mortgage was submitted as Relief Refinance-Open Access. The mortgage being refinanced must have a Freddie Mac settlement date on or before May 31, 2009, be a first lien, conventional mortgage currently owned by Freddie Mac, in whole or in part, or securitized by Freddie Mac.
U2
The Reorder Credit Service was not necessary for ~Borr1~ because system logic triggered an automatic reorder.
U3
The Reorder Credit Service was not necessary for ~Borr2~ because system logic triggered an automatic reorder.
U4
The Reorder Credit Service was not necessary for ~Borr3~ because system logic triggered an automatic reorder.
U5
The Reorder Credit Service was not necessary for ~Borr4~ because system logic triggered an automatic reorder.
U6
The Reorder Credit Service was not necessary for ~Borr5~ because system logic triggered an automatic reorder.
U7
Second Home: Verify 2 months reserves $~PITI2Mths~for the subject property and 2 months reserves (PITI) for each other financed Second Home and/or 1- to 4-unit Investment Property that the borrower owns and/or is obligated on the Note.
UQ
Review for accuracy: Social Security Number {User-entered Social Security Number} for {Borrower Name} submitted to LP does not match the Social Security Number {Borrower Repository SSN} reported in the selected infile from {Repository Name}
UR
Review for accuracy: Social Security Number {User-entered Social Security Number} for {Borrower Name} submitted to LP does not match the Social Security Number {Borrower Repository SSN} reported in the selected infile from {Repository Name}
US
Review for accuracy: Social Security Number {User-entered Social Security Number} for {Borrower Name} submitted to LP does not match the Social Security Number {Borrower Repository SSN} reported in the selected infile from {Repository Name}
UT
Review for accuracy: Social Security Number {User-entered Social Security Number} for {Borrower Name} submitted to LP does not match the Social Security Number {Borrower Repository SSN} reported in the selected infile from {Repository Name}
UU
Review for accuracy: Social Security Number {User-entered Social Security Number} for {Borrower Name} submitted to LP does not match the Social Security Number {Borrower Repository SSN} reported in the selected infile from {Repository Name}
UV
Review for accuracy: {Borrower Name} has multiple or repeating Social Security Numbers reported in the selected infile from {Repository Name}.
UW
Review for accuracy: {Borrower Name} has multiple or repeating Social Security Numbers reported in the selected infile from {Repository Name}.
UX
Review for accuracy: {Borrower Name} has multiple or repeating Social Security Numbers reported in the selected infile from {Repository Name}.
UY
Review for accuracy: {Borrower Name} has multiple or repeating Social Security Numbers reported in the selected infile from {Repository Name}.
UZ
Review for accuracy: {Borrower Name} has multiple or repeating Social Security Numbers reported in the selected infile from {Repository Name}.
VM
~HiLnLimit1~ is the maximum super conforming loan limit allowed for a ~Units1~-unit property located in ~CntyName1~ County, ~PropState~
Y0
<<HVE point value>> is the HVE point value estimate of the subject property.
Y1
<<HVE Standard Deviation>> is the HVE Forecast Standard Deviation of the HVE point value estimate of the subject property.
Y2
<<HVE Confidence Level>> is the HVE Confidence Level of the HVE point value estimate of the subject property.
Y3
Unable to determine the HVE point value estimate for the submitted address.
Y4
The HVE point value estimate returned does not indicate Freddie Mac's acceptance of the appraised value or purchase price entered for the subject property. The Lender will continue to be responsible for the property appraisal as well as representations and warranties of the appraisal, regardless of the HVE Market Value.
Y5
The percentage difference between the estimated/appraised value or purchase price and the HVE point value estimate of the subject property is <<HVE value differential>>%.
Y6
Review for Accuracy: The Estimated Value of Property or Net Purchase Price submitted for this transaction may be excessive for the local market. The appraisal should be carefully reviewed for this transaction.
Y7
To use HVE results in lieu of an appraisal for Relief Refi-Open Access, the property must be 1- or 2-units, attached or detached dwelling, or a unit in a Condominium project or PUD, and may not be a manufactured home, dwelling on a leasehold estate; or a cooperative unit, if the Seller is permitted to deliver Cooperative Share Mortgages under its Purchase Documents. HVE point value estimate Forecast Standard Deviation must be between 0.000 and 0.200.
Z8
When the Field Review Report results in a different value than the appraisal, the lowest of the appraised value, field review value or sales price must be used to calculate the LTV/TLTV/HTLTV ratio.
Z9
The appraiser performing the appraisal must be qualified to perform appraisals without oversight or supervision by a "supervisory" appraiser.
ZA
This loan is super conforming and a delivery fee may apply.
ZB
An update of the original appraisal is required within 120 days before the effective date of the permanent financing.
ZC
The Loan Prospector interface specification version used for this submission is being retired in Loan Prospector. Transactions using this version will not process after March 2009. Please contact your LOS vendor to update your interface version or go to Loanprospector.com for more information on approved LOS vendors and versions.
ZD
For super conforming mortgages with LTV/TLTV/HTLTV >75% and the value of the mortgaged premises is =>$1,000,000, Form 1032 is required.
ZN
This loan may be subject to a high LTV delivery fee.
ZQ
If mortgage being refinanced is a Fixed Rate mortgage, new Relief Refi-Open Access may not be an ARM.
ZR
<<matched FM owned loan number>> is the Freddie Mac loan number of the loan to be refinanced.
ZS
For LTV greater than 80%, if the Mortgage being refinanced has mortgage insurance, then the same MI coverage percentage must be maintained on the Relief Refi–Open Access.
ZT
<<MI company name on loan to be refinanced>> was provider of MI on loan to be refinanced.
ZU
<<MI cert# on loan to be refinanced>> is MI certificate number of loan to be refinanced.
ZV
<<MI coverage amount on loan to be refinanced>> is MI coverage amount on loan to be refinanced.
ZW
No MI information found for this Relief-Refinance Open Access Mortgage.
ZX
For Relief Refi-Open Access, refinance proceeds limited to the following: Pay off the unpaid principal balance and interest accrued through the pay off date of the original mortgage; pay related Closing Costs, Financing Costs, Prepaids and Escrows not to exceed 4% of the current unpaid principal balance (UPB) of the Mortgage being refinanced or $5,000, whichever is less; and disburse cash to the Borrower not to exceed $250.00. The proceeds may not be used to pay off or pay down any junior liens.
