Positioning Your Business for Success with Greater Purchase Certainty
April 30, 2013
In today’s complex, rapidly changing, and often uncertain housing market, Freddie Mac is working hard to make it easier for you to do business. Specifically, we’re focused on providing you with the tools, technology, and transparency to ensure the loans you sell to Freddie Mac meet our purchase requirements. We’re also committed to providing comprehensive support resources to help you manage your business, and strengthen our working partnership.
Our new Greater Purchase Certainty initiative is one way we’re providing our customers with greater certainty and comprehensive support.
What is Greater Purchase Certainty?
The primary goal of our Greater Purchase Certainty initiative is to provide you with more confidence that the loans you sell to us meet our purchase requirements. We are doing this through:
- Increased transparency into our view of risk.
- More clarity around our purchase eligibility requirements.
- Shared understanding of data.
- Access to the tools and technology you need and can easily use.
How Can You Get Greater Purchase Certainty?
To support a more efficient loan manufacturing process and your success under the new representation and warranty framework, we’re enhancing our current technology as well as added a new tool to our suite of risk and eligibility assessment tools.
- Loan Quality AdvisorSM(LQA) is our newest Web-based risk and eligibility assessment tool. LQA gives you an, automated way to identify credit, data, and purchase eligibility issues before you deliver loans to Freddie Mac. LQA can be easily adopted into your business processes. LQA will be available beginning early this summer.
- We’re enhancing Loan Prospector® to provide clearer, more detailed feedback on our eligibility requirements and underwriting rules.
- Uniform Collateral Data Portal® is being updated with Freddie Mac proprietary appraisal quality edits to provide an early view of potential appraisal issues.
Greater Purchase Certainty is all about supporting our customers. We’re working in new ways to provide you with greater certainty and the comprehensive support you’ve asked for to help:
- Strengthen loan quality.
- Make doing business with Freddie Mac easier in today’s housing market.