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Update: Loan Prospector February 10 Release

May 17, 2013

The Loan Prospector February 10 release enhancements were successfully implemented as scheduled. After the release was implemented, the decision was made to remove the following new authorized user account feedback message from Loan Prospector due to inconsistencies in the way the authorized user information is being displayed on credit reports.

Message CodeFeedback Messages

The ~Selected Infile by Repository Name~ infile indicates an Authorized User Account for ~Decision Borrower’s Name~. Disregard the Accept Risk Class and manually underwrite the loan unless there is proof of at least 1 of the following:(a)Another Borrower on this loan owns the tradeline (b)The tradeline is owned by a spouse or (c) ~Decision Borrower’s Name~ has been making the payments on the account for the last 12 months.

Please note: this feedback message was an enhancement, not the result of a new requirement change to the Single-Family Seller/Servicer Guide (Guide). The feedback message was intended to assist you in identifying one or more authorized user accounts on the loan. For more information on usable credit, review Guide Section 37.5(c).

Review the details of the Loan Prospector February 10 release.

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