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Obtain Valuation Functionality

The Obtain Valuation functionality is available through the Freddie Mac Service Loans application. By entering basic data, you obtain an estimated market value that you can use to give listing price guidance to borrowers and real estate brokers. The functionality also provides the minimum net proceeds amount that will allow you to approve a short sale without obtaining our pre-approval.

How It Works

The Obtain Valuation functionality is a sophisticated decision model that helps you determine pricing for each property being considered for a short sale. When you enter data into the tool, you will receive the estimated market value and minimum net proceeds amount for a property, allowing for quicker and more accurate property valuations. If the proceeds of a sale meet or exceed the Freddie Mac minimum net proceeds amount the Servicer will be able to settle the short sale and proceed with the transaction.

To register for the Obtain Valuation functionality, visit the Service Loans Application Resource Center. When registering for the Obtain Valuation functionality, Servicers should input the Servicer number(s) that are applicable to the identified user in the appropriate Freddie Mac Service Loans Application Authorized User Roles Form.

Features

  • Provides a short sale minimum net proceeds amount, allowing the Servicer to approve the short sale without obtaining Freddie Mac’s approval.
  • Returns an estimated fair market value for a short sale transaction, allowing the Servicer to provide listing guidance to the borrower.
  • Offers more certainty about Freddie Mac acceptable amounts up front, which should increase the volume of successful short sales.
  • Provides bulk import capabilities to easily submit servicing data with validation results in a matter of minutes.
  • Leverages the Service Loans application, which is the primary gateway into Freddie Mac for servicing-related functions.

Using the Functionality

  • Access the Freddie Mac Service Loans application.
  • From the My Home page, click the Obtain Valuation tab.
  • Click New Request.
  • At a minimum, enter required data fields marked with an asterisk.
  • Click Submit.

Review Chapter 10 of the Service Loans Application User Guide for detailed information on using the Obtain Valuation functionality.

Bulk Import Capability

The bulk import feature in the Obtain Valuation functionality will enable you to import a single loan or multiple loans and request a minimum net proceeds amount and an estimated market value for each loan. Importing multiple loans reduces the amount of time that would otherwise be required to enter each loan manually.

You must use the file layout available on the Obtain Valuation – Bulk Import page in the Service Loans application, or you must match your data to the file layout. The loan data must be in either a comma separated value (.csv) or a text (.txt) format.

Training and Resources

Visit the Learning Center's Service Loans Application Web page for all Service Loans application training opportunities and educational resources.

For More Information

 

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