Loan Prospector® is helping you meet the changing market requirements

In a changing market where technology tools play an increasingly important role, you can count on Freddie Mac to be there every step of the way with the Loan Prospector functions you need to maintain and build your origination business. On November 18, we enhanced Loan Prospector with a consistent and consolidated approach to help you meet changing market and third-party requirements, with additional capabilities to help you realize more possibilities for your business and your borrowers.

These changes to Loan Prospector include:

• Enhancing Loan Prospector to help you meet new credit requirements issued by the national credit repositories that require identifying all viewers of credit data on a borrower’s credit report. 
• Offering a new optional service, Reorder Credit Service, that allows you to request new credit infiles within an existing transaction in Loan Prospector.
• Implementing new Loan Prospector feedback messages to help you address the Home Possible® Mortgage delivery fee rate modifications we announced in our August 1 Single-Family Seller/Servicer Guide Bulletin. [PDF 90K]
• Transitioning the invoicing of new merged credit fees, including Reference Number fees, from your monthly Loan Prospector invoice sent by Freddie Mac to the monthly invoice you receive directly from the credit reporting companies.  This change, effective January 1, 2008, will improve process and reconciliation efficiencies related to merged credit report option fees.  We offer some tips to help you with this transition in a related Single Family News article.

For more information on recent Loan Prospector changes:

• Review our November 5 Single-Family Seller/Servicer Guide Bulletin [PDF 23K].
• Review all our recent changes to Loan Prospector [PDF].
• Register for our Loan Prospector Overview web conference.