Freddie Mac Announces Selling System Enhancements
February 20, 2013
In response to your feedback on making the Freddie Mac selling system easier to use, we will be making system enhancements on February 25, 2013. These enhancements are part of our ongoing commitment to improve your experience using the selling system.
Updates that will take effect February 25, 2013, include:
- Added flexibilities for best efforts loans. Sellers will be able to edit, save, and reprice best efforts data changes from the Evaluate Loan screen. Currently, Sellers can make edits only via the Modify Loan screen.
- New drop-down fields. To add ease when entering your data, we have added drop-down options on the selling system screens with Automated Underwriting System (AUS) recommendations and country codes. Currently, these are open fields and can cause inconsistent data entry.
These enhancements will be added to the selling system Customer Test Environment in early March.
To help guide you through these selling system improvements, beginning February 25, 2013, we will be offering the Selling System Updates, Tips, and Best Practices – 1st Quarter 2013 recorded tutorial. You will be able to access the tutorial by visiting the Learning Center Updates page and selecting the Selling & Delivery tab.
Data Quality Reminder
Data quality is key to originating and delivering mortgages that are eligible for sale to Freddie Mac. By delivering complete and accurate data, you can easily minimize the risks and costly impacts of having to submit data corrections. As we continue to focus on improving selling system data reliability, it is important that you are familiar with our data standards and delivery requirements as outlined in the Single-Family Seller/Servicer Guide.
If you have any questions, please contact your Freddie Mac representative or call 800-FREDDIE and select loan delivery.