The following table lists messages that may be returned from Loan Prospector with an Ineligible status. These messages indicate why a transaction request is ineligible for Loan Prospector processing and would appear on a Loan Prospector Ineligible Messages page.
Updated: May 2013
Ineligible Status Messages
‘Lien Priority’ must contain a 1.
‘Loan Type’ must be conventional, FHA or VA.
‘Number of Units’ must be less than 5.
‘Occupancy’ must contain a valid code.
UPB must be greater than zero for VA REFI loans.
‘Negative Amortization Type’ for an ARM must = N.
The application contains more than 5 borrowers.
‘Amort. Mos’ (Loan Term) must=360 for Initial Interest loans.
Transaction processing error. Call 800-FREDDIE.
Temporary Subsidy Buydown ineligible for FHA ARM loans.
Product ineligible for Initial Interest offering.
‘Property Type’ not eligible for Initial Interest loans.
Initial Interest loans are not eligible for Financed MI.
‘Loan Amount’ must be greater than 1000 dollars.
‘Loan Purpose’ must contain a valid code.
‘Property Type’ must contain a valid code.
‘LTV’ must be < or = to 95%.
Unable to process loan due to age of LP AUS Key.
'Number of Units' must = 1 or 2 for Home Poss NH Solution.
3-4 unit property with LTV>95% not eligible for Home Poss.
Occupancy must be Primary Residence for all Hm Poss loans.
Manuf Hm must = 1-unit for Hm Poss/Hm Poss NH Solution.
Product not eligible for Home Possible offering.
This loan cannot be resubmitted again for review.
ARMs ineligible for Home Possible 3-4 unit properties.
Unable to process Hm Poss loan due to LP AUS Key age.
‘ARM Subsequent Adjustment Period' must be 12 months.
Cannot request MI for product in LP. Contact MI directly.
FHA/VA Mortgages are ineligible for 40-year.
New Construction Prop Type ineligible for Home Possible.
This loan is ineligible for selected refinance program.
Only No Cashout refi eligible for Relief Refi-Open Access.
Loan Type must be Conventional for Relief Refi-Open Access.
Product Ineligible for Relief Refi-Open Access.
Temp Subsidy Buydown Ineligible for Relief Refi-Open Access.
Purpose of Refinance ineligible for Relief Refi-Open Access.
Relief Refi-Open Access mortgages must match active FM loan.
Existing FM loan Ineligible for Relief Refi-Open Access.
NegAm Loans are Ineligible for Relief Refi–Open Access.
Balloon/Reset loan ineligible for delivery to Freddie Mac.
TLTV is higher than maximum limit.
Refi Type inelig. for New Construction Manufactured Homes.
Internal timeout error. Try again or call 1-800-FREDDIE.
Loan amount exceeds processing limit.
2-4 unit properties are ineligible for processing.
Selected Refi Program is ineligible for cash out.
2-4 unit second homes are not eligible for Loan Prospector.
2-4 unit properties are not eligible for selected refinance.
‘Temp Subsidy Buydown’ ineligible for investment property.
Five year balloon ineligible for investment property.
One borr must be a U.S. citizen or permanent resident alien.
Selected ‘Neg. Am. Type’ is ineligible for invest. prop.
Selected refi program ineligible for investment property.
Selected ‘Neg. Amort Type’ is ineligible for selected Refi.
Initial Interest loan is ineligible as Cash-out refinance.
NegAm ARMS not eligible for delivery to Freddie Mac.
‘Owner Occupancy’ field must = Y for at least one borrower.
Purpose of refinance is ineligible.
Loan amount exceeds processing limit.
Loan purpose: must be P, RF or RR.
‘Owner Occupancy’ field must = N for all borrs on inv. prop.
Second homes are not eligible for selected refi program.
Seller not eligible to request mortgage insurance.
Loan Type either Conventional or FHA w/Construct Conversion.
‘Loan Type’ must not change for a rescore.
Loan amount greater than Freddie Mac guidelines.
‘Occupant’ must be Y for all borrowers.
Intended Use of Prop (Occ Type) must= OO if loan type =FHA.
Intended Use of Prop (Occ Type) must= OO if loan type =VA.