January 2008 Selling System Enhancements
With our recent enhancements to the selling system, we're continuing to evolve the system to help you realize more possibilities for your business. With these changes, we're launching enhanced data export functionality that gives you greater flexibility for your reporting needs. We're also setting the stage for future capabilities to help you better identify your postsettlement delivery fees.
Our enhancements include:
- Providing greater flexibility with enhanced data export functionality. For all users, we'll begin to bundle export files and improve your ability to export loan data, helping you to streamline your process and save time by reducing the number of file downloads to your other systems.
We are making these enhancements by:
- Increasing the maximum number of loan records that can be exported at one time from 60,000 to 120,000 loan records.
- Automatically bundling one or more files and then releasing them to meet the export request.
- Allowing you to preview data set specifications from the Export Data page of the selling system.
- New "Fee Detail" data set for Net Price Cash customers gives you better access to individual loan information. If you're a Net Price Cash customer, with these enhancements you'll have access to a new "Fee Detail" export data set. This new data set will provide both pricing and fee details for individual loans, giving you the ability to execute fee reconciliations prior to receiving your monthly bill.
Delivered in a vertical format, this enhancement provides you with access to a new, all-inclusive fee export data set that offers you the ability to add additional fee attributes, including:
- Contract number
- Contract name
- Pool number
- Seller loan number
- Freddie Mac loan number
- Primary and co-borrower first and last name
- Current unpaid principal balance
- Legacy loan number
- Minimum required servicing spread-coupon
- Buyup/Buydown eligibility option type
- Buyup/Buydown request type
- Current Buyup/Buydown amount (bps)
- Current Buyup/Buydown ratio
- Current Buyup/Buydown proceeds
- Buyup/Buydown grid
- Excess servicing
- Loan fee type
- Fee payment method type
- Loan price calculation date
- Delivery fee (bps)
- Delivery fee (dollar) amount
- Total Delivery Fee (dollar) amount
Note: Loan-level postsettlement delivery fee information will not be available in this data set until a future 2008 release.
- Providing more concise and detailed error messages. We're also expanding our error messaging in the Import Loan functionality to help you better understand why your loan might not fit into a pool or contract. This improvement increases the maximum size of an error message, located on the "Import Loan: Allocation Detail Error" page, from 500 to 1000 characters in length.
- Setting the stage for future capabilities. In an effort to provide individual loan, postsettlement delivery fee information in the future for:
- Cash (excluding Net Price), Guarantor, and MultiLender Swap customers: We are adding a new "Fee Breakdown" window, available through a hyperlink in the "Total Delivery Fees" column on the "Advanced Search" tab on the "Loan Pipeline" screen. While this functionality will be visible to you now, this function will not be fully operational until a future 2008 release. You'll notice that the fields are not populated for this reason. Watch for more information on the full launch of this function next year.
- Net Price Cash customers: We have enhanced the existing "Fee Breakdown" window currently available through a hyperlink in the "Total Delivery Fees" column on the "Advanced Search" tab on the "Loan Pipeline" screen. The fields will now be the same as those in the new "Fee Breakdown" window for all other customers.
The full enhancement is scheduled to take place in 2008.
For More Information
- Check out our Learning Center to learn how to utilize the selling system features with your business operations.
- Contact your Freddie Mac selling system representative or call (800) FREDDIE
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