Loan Prospector® Import Can Simplify Your World

How to benefit from the selling system’s new Loan Prospector Import feature

Are you a small community lender who “does it all” when you sell your loans to Freddie Mac?

Whether you sell loans through cash contracts on a mandatory or best efforts basis, you may stand to benefit significantly from using the selling system’s new Loan Prospector® (LP) Import feature.

For best efforts contracts, with the new LP Import feature, all you need to do is log into the selling system and enter your Loan Prospector Key Number and your borrower’s social security number. By clicking on LP Import, in a matter of seconds, the system will create your loan by prepopulating nearly 50 fields in the selling system from data you entered into Loan Prospector. Just add the street address and save that loan, and you’re ready to take out a best efforts contract.

If you’re a shipper doing mandatory cash contracts, the feature works the same way, dramatically reducing the amount of data entry you have to do by eliminating the need to manually enter into the selling system the loan data that you’ve already entered into LP.

Not only does LP Import save you time—it’s also a foolproof method to ensure that your data is correct and matches the loan data scored in LP.

For a quick look at the LP Import process and the fields the system will import, check out the Loan Prospector Import Factsheet [PDF 161K ].

For more detailed information about the selling system, visit our website or call your Freddie Mac account manager today.