This 2-hour web-conference training session examines the minimum documentation requirements needed to support your lending decision on mortgages assessed by Loan Prospector® (LP).
Participants will learn how to use Loan Prospector« Documentation Matrix, and discover underwriting 'hints and tips' not included in the matrix.
Prerequisites:
A basic understanding of Loan Prospector functionality is recommended.
New users should attend the distance-learning session Getting Started with Loan Prospector prior to enrolling in this training session.
Participants need simultaneous access to the Internet (to receive the visual portion of the presentation) and a telephone (to receive the audio portion of the presentation). Minimum required connection speed for a dial-up modem is 28.8 kbps.
Please print the following course materials to participate in the session: Course materials
Objectives:
Participants successfully completing this distance-learning session will be able to understand:
Minimum documentation required to support lending decisions on mortgages they intend to sell to Freddie Mac
Similarities and differences between the tiered levels of documentation needed for each Loan Prospector documentation level
Specific representations or warranties (business risks) associated with each risk class and relevant documentation levels provided by Loan Prospector
Benefits of Minimum Documentation