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Enhancing Loan Prospector® to help you meet new credit requirementsOn November 5, we issued a special Single-Family Seller/Servicer Guide (Guide) Bulletin announcing changes to continue to use credit infiles in Loan Prospector. With the credit repositories recently established new requirements that call for each entity that views credit data to be identified on the consumer's credit report. To help you meet these new requirements, we are updating Loan Prospector, and our requirements related to assessments in Loan Prospector. These updates ensure Loan Prospector accurately identifies and reports to the credit repositories and credit reporting companies those who are requesting and viewing a borrower's credit data in the system. Effective November 18, in order to continue to use credit infiles in Loan Prospector for assessment purposes, all users of Loan Prospector, including third-party users, must have an agreement with each repository, or enter into an agreement if an existing agreement is not already in place to allow the user to obtain consumer credit reports from that credit repository. Please Note: If you have an existing agreement(s) with credit repositories, you do not have to enter into a new agreement at this time. If you are a Seller who uses Loan Prospector, you already have repository agreements in place. For more information
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