Elimination of Accept Plus Documentation Level in Loan Prospector®

In an October 17, 2008 e-mail to all Freddie Mac Sellers, we previewed new credit requirement changes that we will finalize in a November Single-Family Seller/Servicer Guide (Guide) Bulletin. These changes strengthen underwriting standards for borrower eligibility and provide additional safeguards against layered risk to support sustainable homeownership opportunities.

In particular, these changes include eliminating purchases of all mortgages originated with stated income and/or stated assets, including borrower-selected programs, lender-branded and marketed programs, and system-selected programs such as Loan Prospector Accept Plus. 

As a result, on December 7, 2008, we will eliminate the Accept Plus Documentation Level in Loan Prospector.  For all submissions and resubmissions on or after December 7, Loan Prospector will no longer return an Accept Plus Documentation Level. 

Learn more about the elimination of the Accept Plus Documentation Level, including managing your pipeline loans.