Underwriting: Credit

Use the following resources to better understand Loan Prospector functions and results - learn how to review and document conventional/conforming loan applications receiving an Accept or Caution risk class.

Easy to Print References
Documenting Lawful Residency Status for Non-U.S. Citizens
Freddie Mac Relief Refinance Mortgages - Eligibility Requirements Updated
Freddie Mac Rental Income Matrix (For Mortgage Applications on or after December 14, 2009, and Freddie Mac Settlements on or after April 1, 2010) Updated
Freddie Mac Rental Income Matrix (For Mortgage Applications on or before December 13, 2009, and Freddie Mac Settlements on or before March 31, 2010) Updated
LTV, TLTV & HTLTV Ratios for Conforming Mortgages
LTV, TLTV & HTLTV Ratios for Super Conforming Mortgages
Loan Prospector® - How to Order Automated Underwriting and Merged Credit With or Without Reference Numbers
Loan Prospector - How to Order Automated Underwriting and Reorder Credit
Loan Prospector - How to Order Automated Underwriting with Reference Numbers
Loan Prospector - How to Order Merged Credit With or Without Reference Numbers
Loan Prospector Documentation Matrix (For Mortgage Applications on or after December 14, 2009, and Freddie Mac Settlements on or after April 1, 2010) Updated
Loan Prospector Documentation Matrix (For Mortgage Applications on or before December 13, 2009, and Freddie Mac Settlements on or before March 31, 2010) Updated
Loan Prospector Feedback Message Summary of Changes
Loan Prospector Feedback Messages (Cause & Resolution)
Loan Prospector Feedback Messages
Loan Prospector Functionality Guide
Loan Prospector Processing Reminders for Mortgages with Submission Dates prior to December 14, 2009 Updated
Ordering Merged Credit (LoanProspector.com System-to-System Access Method)
Overview of Recent Pricing and Credit Changes for Sellers
Selection and Use of Credit Scores
Underwriting Reminders for Loan Prospector Caution Risk Class Mortgages
Underwriting Training and Education Resources Updated
Using Loan Prospector Merged Credit Options (Loan Prospector Browser Access Method)

Online Self-study
Borrowers with Limited or No Credit - 30 min
Factors Used in Loan Prospector
How to Read a Credit Report

Training Events Workshop Web Event
Loan Prospector Documentation Requirements - 2 hr
Overview of Recent Announcements and Guide Changes - 90 min
The Power of Strong Underwriting - 1 day
Underwriting with Loan Prospector - 1 day

Additional Online Resources
Discover Gold Through Quality (Quality Control and Fraud Prevention Best Practices)

Freddie Mac's Single-Family Seller/Servicer Guide
Guide Section 2.2.1: Introduction to Loan Prospector Guide Chapter 37: Underwriting the Borrower Guide Chapter 44: Appraisal Reports, Inspection Reports and No-Appraisal MAF