The following table lists the feedback messages and explains why a loan may be ineligible for purchase by Freddie Mac, or unacceptable for FHA insurance or VA guaranty. These messages appear on the Loan Prospector Full Feedback Certificate in the Purchase Restriction section.
Updated: February 2013
Code
Purchase Restriction Feedback Messages
02
The LTV exceeds the 95% non-occupying borrower rule.
03
LTV including finance MI premium exceeds LTV limit.
04
Eligibility criteria not met for financed MI at this LTV.
05
Risk class ineligible for financed MI at this LTV.
06
HTLTV exceeds max HELOC limit.
07
Eligibility criteria not met for HELOC at this TLTV.
08
Risk class ineligible for HELOC high credit TLTV.
09
TLTV exceeds max limit of 95% w/secondary financing.
10
LTV exceeds max limit of 95% w/secondary financing.
11
LTV/TLTV exceeds NCO refinance limits.
12
This loan is ineligible for selected refinance program.
13
LTV/TLTV exceeds max Alt 97 limit.
18
CAUTION risk class not eligible for Alt 97.
20
LTV/TLTV exceeds max Freddie Mac limits.
25
LTV/TLTV exceeds product limits.
26
This loan amount exceeds Freddie Mac limits.
28
Investment Property – no gift funds allowed.
29
Loan does not meet FM Manufactured Home requirements.
30
LTV/TLTV/HTLTV ratio exceeds Manufactured Housing limits.
31
Caution not eligible for Initial Interest; see Guide Ch J33.
33
Temp. Subsidy Buydowns not eligible for Initial Interest.
34
ARM Initial Adjustment Period is not valid for VA ARM.
35
Hm Poss >=2 units: 2nd mtg payoff from proceeds not allowed.
36
All Hm Poss loans ineligible for selected refi program.
37
Accept Risk Class required for Hm Poss Manufactured Homes.
39
Extended buydown parameters not met for Hm Poss NH Sol.
40
Temp Subs Bydwn not allowed for Home Possible Manuf Homes.
41
Two months reserves required for Hm Poss (2-4 unit).
42
1 mo reserves reqd for Hm Poss NH Solution; may be a gift.
43
HELOCs are not a permitted source of secondary financing.
46
Investment Property is not eligible for Initial Interest.
47
2-4 unit properties not eligible as Initial Interest loans.
48
Borr(s) income does not meet Hm Poss income limits.
49
Borr(s) income does not meet Hm Poss NH Sol income limits.
51
This TPO loan is not eligible for delivery to Freddie Mac.
52
This investment prop is not eligible for delivery to FM.
53
NegAm ARMS not eligible for delivery to Freddie Mac.
54
The LTV exceeds the 90% non-occupying borrower rule.
82
Limited buydown parameters not met for Home Possible.
83
Limited buydown parameters not met for Hm Poss NH Sol.
84
5 Yr Balloon with Fin MI is ineligible for delivery to FM.
85
HTLTV exceeds Initial Interest product limits.
86
40-yr amortizations are ineligible as super conforming.
87
Minimum Indicator Score not met for Home Possible loan.
88
Home Possible Mortgages are ineligible as super conforming.
89
Initial Period must be =>60 months.
90
Balloon/Reset Mortgages are ineligible as super conforming.
91
Interest Only Period must be =>10 yrs.
92
Newly Constructed Home Mtgs ineligible for super conforming.
93
Debt-to-income ratio exceeds the maximum allowable limit.
