You Can Hang Up the Phone – AIM Answered the Call for More Automation

Lenders are craving more automation – and we’re delivering. In Single-Family Seller/Servicer Guide (Guide) Bulletin 2022-11, we shared the great news with the mortgage lending industry – Loan Product Advisor® (LPASM) asset and income modeler (AIM) now automates the 10-day Pre-Closing Verification (PCV) using either account (asset) or payroll data.

What’s that mean? It means you save time because you don’t have to make that phone call or get written verification of employment. It also:

  • Minimizes the manual process of verifying employment – saving time and money by automating this traditionally manual process. In addition, if using account data, you can leverage the same verification report used to assess income and assets.
  • Streamlines the origination process for you and your borrowers – limiting requests for documentation to deliver a superior borrower experience and potentially speed up the loan process.
  • Increases confidence in the borrower’s current employment status when obtaining data from our designated third-party service providers – helping to reduce the risk of fraud.

Check out the AIM web page and our AIM Training web page for resources to help you learn more.

LPA and Loan Quality Advisor Upcoming Feedback Messages

To align with ongoing changes to improve our feedback messages – and provide you with more actionable and transparent language, we’re making the following LPA and Loan Quality Advisor® message updates related to ACE+ PDR (automated collateral evaluation plus property data report) effective July 17, 2022 and GreenCHOICE Mortgages® and CHOICERenovation® Mortgages in support of our Duty to Serve program effective August 1, 2022.

Check out the LPA and Loan Quality Advisor® feedback message updates.

Explore More AIM Through Updated Training Opportunities

We’ve updated AIM training webinars to help you understand and benefit from the enhancements recently announced. Check out one, or all, of the following learning opportunities to help you get your edge – The Freddie Edge®.

What: AIM for Income Using Direct Deposits Webinar
When: June 14, 2022, 2 - 3:30 p.m. EST

Click to Register

What: LPA Updates Webinar
When: June 22, 2022, 2 - 3 p.m. EST

Click Here to Register

What: Exploring AIM Webinar
When: June 23, 2022, 11:30 - 1 p.m. EST

Click to Register

Can’t attend on these dates? Click the registration button for the webinar you’re interested in and check out other session date options.