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MIDANET® Post-Purchase Data Correction Utility

The MIDANET Post-Purchase Data Correction Utility makes it easier and more efficient for you to make post-purchase delivery data corrections. Regardless of the primary delivery system you currently use, you will need to use the MIDANET utility to submit your:

  • Post-purchase delivery data corrections for Loan Prospector® A-minus, other Caution and Non-Loan Prospector mortgages

  • Corrections for Home Mortgage Disclosure Act (HMDA) data using updated HMDA data correction screens that reflect ethnicity and race data required by Regulation C, the implementing regulation for HMDA

With the MIDANET utility, you have four ways to make your post-purchase delivery data corrections:

  • Correct your data directly in MIDANET through the Post-Purchase Data Correction Utility

  • Batch import the Data Error and LP Validation Correction File, without making corrections, into the MIDANET utility and correct your data directly in the MIDANET utility.

  • Correct your data in the Data Error and LP Validation Correction File and import the corrected file into the MIDANET utility

  • Correct your data in your loan origination system (LOS) and import your internal file into the MIDANET utility

How It Works

You will still receive the Data Error and LP Validation Report and the Data Error and LP Validation Correction File in MIDANET. These tools notify you of post-purchase delivery data errors, and are available on the first business day of each week for loans funding the previous week. If there are no errors for your loans funded the previous week, the report will list "no errors" and a correction file will not be sent.

Using the Data Error and LP Validation Report and/or Correction File, you can submit corrections to Freddie Mac using any one of the four options available through the MIDANET utility. Detailed instructions on using the four options are available in the MIDANET Post-Purchase Data Correction Utility publication on Freddie Mac's Learning Center.

Determine Your Best Data Correction Method

With the introduction of the MIDANET utility, there are now four ways to make corrections to your post-purchase delivery data errors
  Options Batch Import This method is best for...
1 Correct data directly in MIDANET via the MIDANET utility N/A Correcting a few individual records one at a time, using the 'add' function.
2 Correct data directly in MIDANET via the MIDANET utility, using the Data Error and LP Validation Correction File you download from MIDANET The uncorrected file into the MIDANET utility Correcting several or many errors quickly in the MIDANET utility. The batch import eliminates the need to manually add correction records one at a time.
3 Correct data in the Data Error and LP Validation Correction File you download from MIDANET The corrected file into the MIDANET Utility Correcting many errors at one time leveraging the Excel functionality. For example, making a global change to the file if there is an error in the data format.
4 Correct data in your Loan Origination System Your internal file into the MIDANET utility Maintaining consistency between your LOS and the mortgage data delivered to Freddie Mac.

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© 2009 Freddie Mac

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