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Loan Prospector® Outreach

Mortgage-Readiness Assessment for Housing Professionals

Loan Prospector® Outreach Updated to Align with Recent Requirement Changes

March 5, 2014

On February 23, 2014, Loan Prospector® Outreach was updated to align with recent requirement changes related to asset documentation provided in Single-Family Seller/Servicer Guide (Guide) Bulletin 2013-18 that are effective for mortgages with settlement dates on or after March 1, 2014. These updates relate to:

  • Verifying large deposits;
  • Using direct account verification to verify assets;
  • Applying Internal Revenue Service employer retirement accounts used for reserves; and
  • Aligning standard documentation with eligible borrower funds and documentation requirements.

For full details on the new updates, please read the September 24, 2013, Freddie Mac Single-Family Seller Servicer Guide (Guide) Bulletin 2013-18.

Click here for an overview of the updated feedback messages in Loan Prospector Outreach.

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