Loan Prospector Outreach Updated to Reflect
2013 Area Median Income Estimates
The Federal Housing Finance Agency (FHFA) has issued area median income (AMI) estimates for 2013. Freddie Mac uses the AMI estimates, among other things, to determine eligibility for our Home Possible® mortgages.
On August 25, 2013, the Loan Prospector® Outreach system was updated to reflect the 2013 AMI estimates, which apply to new submissions and resubmissions on or after August 25, 2013. Freddie Mac lenders must use these estimates for Home Possible mortgages.
Please note that, unlike past years, AMI estimates for a number of counties were reduced from the 2012 AMI estimates. To identify potential impacts on mortgages submitted to Loan Prospector Outreach prior to August 25, 2013, you should review the 2013 AMI county estimates in the Affordable Income & Property Eligibility tool, which was updated on August 26, 2013, to reflect FHFA's 2013 area median income estimates.