Loan Selling Advisor - New Enhancements, Reminders and Edits
January 29, 2019
Cash Specified Payups for Low Loan Balance Mortgages – New Edit Preventing IFIs
In Single-Family Seller/Servicer Guide (Guide) Bulletin 2018-15, we announced that Sellers are no longer required to deliver values H64 through H68 in ULDD Data Point Investor Feature Identifier (Sort ID 368) for mortgages with low loan balances in order to receive cash specified payups. We will update Loan Selling Advisor® in the future to prevent delivery of these IFIs.
Effective for settlements on or after March 4, 2019, loans delivered with values H64 through H68 will receive a warning edit, which will become a critical edit no sooner than third quarter of 2019. Further updates will be provided, including additional notification. We will notify you before you begin receiving a critical edit.
New Loan Selling Advisor Purchase Statement Data Export Capability – Now Live
As announced on December 4, 2018 you’ll now see the addition of several existing data elements that have been added to the standard Summary Data MISMO 3.0 export dataset. This addition allows you to create your own customized exports with data that is currently available in Loan Selling Advisor only on the Loan Purchase Statement for your cash or guarantor loans.
Due Date of Last Paid Installment (DDLPI) for Cash Mortgages – New Edit Reminder
As announced on October 29, 2018, Loan Selling Advisor will require that the DDLPI, ULDD Data Point Last Paid Installment Due Date (Sort ID 440), be current as of the month of funding for all cash loans. Beginning with February 11, 2019 settlements, loans that do not meet this requirement will receive a warning edit which will become a critical edit beginning early April 2019.
Super Conforming Cash Specified Pool Type Selection
As a reminder, you only need to select “Super Conforming” in the Cash Specified Pool Type field in Loan Selling Advisor for contracts taken out after you’ve exceeded your monthly Cash super conforming delivery threshold. Mortgages delivered into super conforming specified contracts will be assessed the applicable super conforming price adjustment from the daily specified grid. To learn more about how to use the “Super Conforming” Cash Specified Pool Type option refer to these FAQs.
For More Information
- Visit Freddie Mac’s Learning Center for more on our training programs and reference tools.
- Contact your Freddie Mac representative.