Upcoming Training and Introduction to new OUS Loan Submission Template (LST) 2.1
January 22, 2013
Last week, we shared in our News Center article on the Loan Submission Template (LST) 1.5 that additional information about OUS changes and training would be forthcoming. Today, we want to give you an overview of what OUS activities are taking place this quarter along with what those changes will mean for you as an OUS user.
Additional LST 2.1 Will Be Provided to Program Plus Sellers at Upcoming Training
During the first quarter, we will introduce an additional LST 2.1 for Program Plus Sellers. Your adoption of the LST 2.1 begins with your attendance at upcoming webinar training sessions. Following your training, you will be provided with our newest version of our Loan Submission Template for OUS (LST 2.1) to use for the majority of your conventional deals.
LST 2.1 Helps Support Our Internal System Changes and Provides Additional Features to Sellers
Freddie Mac staff will be adopting a new deal evaluation and underwriting system in 2013, and the launch of a new Loan Submission Template (LST 2.1) is necessary in order for deals to be processed through this new system. You will continue to work in the same OUS environment that you use today, only the Loan Submission Template that you use will change for most conventional deal types.
Once you begin to use the 2.1 template, you’ll then have the ability to view your deal status and run newly accessible management reports within OUS. We expect these changes will help you to operate in a more cost-effective manner, deliver loan data to us more accurately and enable us to work together more efficiently.
Learning How and When to Use LST 2.1
During the training, you will learn how and when to use LST 2.1, depending on specific attributes of your deal. In some deal scenarios, you will continue to use the recently released LST 1.5. You’ll receive guidance on the selection criteria during training. Immediately following training, you will obtain access to the new LST 2.1 and additional job aids to explain which LST you will select for which conditions.
How Your LST 2.1 Training Will Be Scheduled
We’re scheduling Seller training on using LST 2.1 by Seller account starting in February and expect to complete all training by the end of March. You will soon receive an invitation with date and time of your specific webinar session through our Multifamily Training mailbox.
Once you have been trained, you will be given access to a technical support toll-free number and email box, where a representative from our Business Operations Support (BOS) Team will follow-up with you.
If you are a Program Plus Seller/Servicer that currently uses OUS and you haven’t received an invitation to training by March 1, please send an email to Sheila_Alkire@FreddieMac.com.
We want to thank you again for your continued support and participation in rolling out these important OUS changes.