Customer Package Training 2012 – How to Speed and Improve Execution
June 29, 2012
Building on the success of last year's Customer Package Training, we're excited to announce this year's sessions, which will be held this August in each of our Regions. Like last year's training, the 2012 sessions will provide updated guidance on how to submit a successful loan package that achieves the fastest turnaround.
A key component of the training will be the opportunity to learn about the new Loan Submission Template (LST) 2.1. Following these sessions, your Regional deal teams will be working with you regarding the timing for you to start using the new LST. This training will prepare you for that change by explaining how and when to use LST 2.1, and how its use will enable additional functionality for you in OUS.
Additionally, the training will also cover new topics, including:
- Enhancements to our Early-Rate Lock option for flexible proceeds;
- The creation of a single underwriting team now focused on our specialty products;
- A new template we introduced to ease your submission of mortgage narrative analyses; and,
- Our approach for notifying you of missing underwriting package documents
This training will provide you with pointers on how to avoid common errors and achieve the best outcome, including how to explain missing package elements, exception requests and other material issues. It also will describe the best ways you can avoid delays by requesting document modifications early, flagging property weaknesses, and addressing deal issues with recommendations for mitigation.
The quality of your submissions determines how fast we can quote and underwrite your loans. And given that speed can be a critical factor in a deal's success, we strongly encourage you to participate in your Region's session. However, you can register for a session in another Region if your Region's session date is not feasible for your schedule. Visit our Events page to register and for more information.
As a separate reminder, this package training is just the first of two important customer events we're holding in the coming months – the second is our 2012 Seller/Servicer Conference in October. In contrast to the detailed instruction of the package training, the Seller/Servicer Conference will bring together all of the functions of Freddie Mac Multifamily to provide you with our industry insights, future plans, and strategies for continuing to lead the market with our products, executions and processes. We encourage your participation in both events.
We look forward to seeing strong attendance from both Seller analysts and loan originators at the Customer Package Training, and one of us will participate at each Regional session.
John Cannon, Senior Vice President, Multifamily Production, Sales & Marketing
Debby Jenkins, Vice President, Multifamily Underwriting