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Correspondent Assignment Center

Correspondent Assignment Center

Find answers and advice for Freddie Mac's innovative data sharing solution.

General Correspondent Assignment Center Questions

What is Freddie Mac Loan Advisor Suite® Correspondent Assignment Center?

Correspondent Assignment Center enables correspondents to share data and documents across the loan manufacturing process – from underwriting through loan delivery – with aggregators. As with everything in Loan Advisor Suite, our goal is to reduce cost in the loan origination process. We designed it to facilitate collaboration, increase efficiency and provide greater certainty that loans sourced by correspondents align with Freddie Mac purchase eligibility standards.

Why should I use Correspondent Assignment Center?

Using Correspondent Assignment Center offers advantages for aggregators and correspondent lenders. Specifically, some of the key benefits are:

Aggregators

  • Access to validated Uniform Closing Dataset (UCD), Uniform Loan Delivery Dataset (ULDD) and Uniform Appraisal Dataset (UAD) files for a more efficient loan setup and delivery process, and reduced costs related to duplicative data entry and manual data-to-document reconciliations.
  • Shared data and documents, from Loan Advisor Suite tools, provides greater certainty that loans satisfy Freddie Mac’s risk, quality, eligibility and data delivery requirements before the loan is purchased.

Correspondents

  • Easy sharing of data and documents across the entire loan manufacturing process.
  • Leveraging automated loan data assessments in Loan Advisor Suite to reduce manual quality control activities.

How does Correspondent Assignment Center work?

Correspondents can easily share loan data files and documents with aggregators through a user-friendly web interface, as well as system-to-system interfaces, allowing aggregators to view results and download available documents and data pertaining to those loan files. It also allows the correspondent to search, view and export results and data.

With which Loan Advisor Suite tools does Correspondent Assignment Center integrate?

It is integrated with Loan Product Advisor®, Loan Quality Advisor®, Loan Collateral Advisor® and Loan Closing Advisor®.

When will Correspondent Assignment Center be broadly available?

It is available now and is integrated with Loan Closing Advisor and Loan Quality Advisor. Other tools will come on board in the future.

How do I request access to use Correspondent Assignment Center?

Simply go to the Correspondent Assignment Center web page and click "Get Started".

How does an aggregator notify Freddie Mac that they want to be listed as an aggregator to allow correspondents to share results with them?

Approved Freddie Mac Seller/Servicers simply need to complete the Aggregator Profile Form. Please allow two business days for processing of the form.

Can I use Correspondent Assignment Center if I use a Loan Origination System (LOS) from a technology vendor?

Yes. We’re working with vendors to provide this service to our customers. A list of verified vendors is available through the Freddie Mac web site. The site will be updated as technology vendors integrateCorrespondent Assignment Center with their LOS.

Will Correspondent Assignment Center have a system-to-system capability?

Yes. Specification requirements have already been developed, and we are sharing them with vendors and custom lenders upon request.

How do I establish a system-to-system integration to Correspondent Assignment Center?

If you are a custom-build lender, you should contact your Freddie Mac representative to request Correspondent Assignment Center system-to-system specifications. If you are a lender who utilizes a technology vendor’s LOS, please refer to the Freddie Mac verified vendor list to see if your vendor has integrated with Correspondent Assignment Center.

Does Correspondent Assignment Center help me meet the UCD mandate?

No. You must create and test your UCD XML file in Loan Closing Advisor to meet the UCD mandate. Correspondent Assignment Center provides a means for correspondents to highlight for aggregators that their loans meet the mandate by sharing the Loan Closing Advisor feedback certificate, the UCD XML file and the Closing Disclosure PDF.

How do aggregators know that the correspondent's UCD submission meets the UCD mandate?

The UCD requirement indicator on the Loan Closing Advisor tab in Correspondent Assignment Center and the Loan Closing Advisor feedback certificate (from Loan Closing Advisor or in the Correspondent Assignment Center) show whether the UCD requirement has been satisfied.

Is the use of Correspondent Assignment Center required to meet the UCD mandate?

No. Use of Correspondent Assignment Center is optional and is not required to meet the UCD mandate.

How does Correspondent Assignment Center affect an aggregator’s representation and warranty relief?

Correspondent Assignment Center provides aggregators with an earlier view into rep and warranty relief on eligible loans, but it is not required to transfer the rep and warranty relief from the correspondent to the aggregator. Rep and warranty relief is applied at the loan level and is not specific to the lender or aggregator.

Does Correspondent Assignment Center allow correspondents to share a loan file with multiple aggregators?

Correspondents can only share a loan file with one aggregator at a time. However, correspondents can stop the sharing of a loan file and share it with another aggregator as needed.

Are aggregators required to accept or reject a shared loan?

No. Aggregators are not required to accept or reject a shared loan.

If a loan is shared with an aggregator, can the aggregator share the loan with another aggregator?

Yes, effective January 29, 2018, the ability to re-assign or un-assign shared loans has been extended to aggregators.

Are correspondents allowed to select which Loan Advisor Suite results they share with an aggregator?

No. If a correspondent shares a loan through Correspondent Assignment Center, any results from Loan Product Advisor, Loan Quality Advisor, Loan Collateral Advisor and Loan Closing Advisor will be shared with the aggregator. Results, data and documents are shared at the loan level, not at the tool level.

How does a correspondent determine they are always sharing the latest Loan Closing Advisor and/or Loan Quality Advisor submissions?

The latest submissions from the correspondent will automatically be shared with the designated aggregator whenever the aggregator accesses Correspondent Assignment Center.

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