August 2024 Loan Quality Advisor^® Release Updates

The August Loan Quality Advisor^® release includes a revised automated collateral evaluation (ACE) message and a revised effective date for a previously announced new caution message. Make sure you’re familiar with these updates so you can continue creating opportunities for your borrowers.

ACE Messages

Effective August 11, 2024

We are updating an ACE message to align with Single-Family Seller/Servicer Guide language.

Message Code	Former Text	Current Text	Loan Quality Advisor Message Matrix Tab
CY1010	Loan is eligible for collateral representation and warranty relief with an appraisal waiver through [AA expiration date - MM/DD/YYYY]. The submitted value estimate or purchase price is accepted as the value of the subject property; an appraisal is not required and Seller will be relieved of representations and warranties related to value, condition and marketability. If an appraisal is obtained, it must be submitted to the UCDP, and the associated loan will not be eligible for the appraisal waiver.	Loan is eligible for collateral representation and warranty relief with an appraisal waiver through [AA expiration date - MM/DD/YYYY]. The submitted value estimate or purchase price is accepted as the value of the subject property; an appraisal is not required and Seller will be relieved of representations and warranties related to value, condition and marketability.	7

Updated August 2024