Changes to Loan Prospector's assessment model coming in 2008

As part of our ongoing maintenance of Loan Prospector®, we review Loan Prospector’s assessment model and make periodic changes as necessary. We expect to implement changes to the assessment model in February/March 2008. As part of this change, we will also introduce several new Loan Prospector feedback messages.

Important things to keep in mind regarding the upcoming changes:

• Once implemented, the updated assessment model will apply only to new submissions to Loan Prospector. 
• The updated assessment model will not apply to resubmissions of loans assessed prior to our implementation. Loan Prospector will use the previous version of the assessment model currently in place to process these resubmissions.
• With the updated assessment capability, some submissions that might have received an Accept using the previous model may return a Caution, and some of those that would have previously returned a Caution may return an Accept.
• The net impact of these changes will vary based on your individual mix of business, but is not expected to significantly change the rate of Accepts you typically receive.
• No new data elements will be required in Loan Prospector.

Look for additional details in the coming months regarding these changes, including specific codes and language for the new feedback messages.