The October 7, 2022, ECO® release includes two Freddie Mac Loan Advisor® dashboard additions that give you greater insight into income rep and warranty relief and opportunities to originate loans without an appraisal.

Income Performance Dashboard: Direct Deposit

We’ve added an offering type to the Income Performance dashboard called “Direct Deposit” to give you greater insight into income representation and warranty relief.

Direct deposit – part of asset and income modeler (AIM) – is offered to provide a basis for potential relief from certain selling representations and warranties (R&W) related to the assessed income by using direct deposit data from a borrower’s depository information. By using a history of certain direct deposit income types from the asset verification report, the offering assesses a loan’s eligibility for income R&W relief.

Collateral Offerings: ACE+ PDR

We’ve added a new offering to the Collateral Offerings dashboard for ACE+ PDR (automated collateral evaluation plus property data report) to help you identify opportunities to take advantage of the addition.

The offering lets you originate cash-out and certain “no cash-out” refinance loans without an appraisal. With ACE+ PDR, additional property information is physically collected on-site by trained data collectors using the proprietary Freddie Mac PDR dataset, in lieu of an appraisal.

Log into ECO to navigate to the Loan Advisor dashboards and try them out – or read the release notes for more information.