Loan Product Advisor and Loan Selling System Updated to Align with 2019 Loan Limits
December 3, 2018
Loan Product Advisor® was updated on December 1, 2018, to reflect the new 2019 loan limits. This means you may start taking advantage of the greater origination potential you have with the higher conforming loan limits.
- You may submit mortgages with the new loan limits to Loan Product Advisor. Loan Product Advisor will return the appropriate feedback message.
- If you have a loan that was submitted to Loan Product Advisor in 2018 and it received an “ineligible” only because the original loan amount did not meet the 2018 loan limits, you do not have to resubmit this loan if the original loan amount is now is eligible under the 2019 loan limits.
However, mortgages meeting the higher 2019 loan limits may not be sold to Freddie Mac until after January 1, 2019.
Taking out a Contract in Loan Selling Advisor
Loan Selling Advisor® has also been updated to reflect the 2019 loan limits. If you plan to take out a cash or guarantor contract this month for a mortgage with an original loan amount eligible under the 2019 base conforming loan limits, but not under the 2018 loan limits, you must enter a 2019 date for the "Requested Settlement Date" field.