New Import Cash Contract Capability Coming Soon

Last April, we introduced optional fields for Cash-Released XChangeSM clients to improve price certainty when requesting a contract-level Freddie Mac Price Sheet or when creating a contract using the Loan Purchase Contract Terms screen.

Beginning February 25, Sellers that sell for cash, regardless of the selected servicing option, will be able to import fixed rate cash contract data (including the optional fields for Cash-Released XChange clients) in Loan Selling Advisor®. You can access the new Import Cash Contract function from the Contracts menu to simultaneously import contracts for multiple fixed rate mandatory or best efforts cash contracts.

With this capability, you can import up to 100 fixed rate cash contracts in a single file, and then when you are ready, access the View Import Cash Contract Results screen to price and accept each contract.

This enhancement offers greater efficiency over the current process of entering your cash contract data one contract at a time in Loan Selling Advisor. With the new Import Cash Contracts Specification, you can choose either the comma separated value (CSV) or eXtensible Markup Language (XML) file format options to import your contracts beginning February 25.

New Fields Offer More Precise Pricing for Cash-Released XChange Clients

In addition to the new Import Cash Contract option, on February 25, Cash-Released XChange clients will also see four new optional fields under “Additional Servicing Released Information.” Use these when requesting a Freddie Mac Price Sheet, when creating a contract using the Loan Purchase Contract Terms screen, or when using the new Import Cash Contract option. 

The new HMDA Rate Spread Percent, Loan Originator Type, Buydown Temporary Subsidy Indicator and Non-Individual Borrower Type fields will be available to accept your data, if applicable to your loans, beginning March 25. Loan Selling Advisor’s Contract Details screen, Purchase Contract Confirmation, and certain export datasets have also been updated to reflect the new fields. 

Expanded Online Help

With this release, we’ve also improved our online help in Loan Selling Advisor with a new look and feel and we expanded field-level help beyond the Cash-Released XChange Contract data fields to include all the Cash Contract data fields.

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