Make your new year’s resolution to assist more borrowers with their homeownership dreams. Continue reading to see how the latest Loan Product Advisor® (LPASM) releases and feedback message updates will help you have a productive start to 2023.

January Loan Product Advisor Releases

This month’s enhancements include:

  • Experian Verify (EXPN) as a new payroll provider in LPA asset and income modeler (AIM) for income.
  • Multiple feedback message updates related to the following topics are effective on January 30:
    • High-cost area pricing
    • Community land trust (CLT) mortgages
    • Junior liens

Read full details in the January LPA release notes and check out the full list of January 2023 feedback messages.

Additional Feedback Message Updates

To help you understand LPA feedback and take actionable next steps, we’re adding and updating new feedback messages for the following:
  • Cash-out refinance seasoning requirements – effective March 7, 2023, this message will support a new policy requirement for a minimum 12-month seasoning period for mortgages being paid off with proceeds of a cash-out refinance mortgage.
  • Accessory dwelling unit (ADU) purchase eligibility and underwriting – effective April 3, 2023, these messages will provide clarity on ADU requirements in relation to eligible mortgages and rental income qualifications.

Click here to view these message updates or visit the Loan Product Advisor Resources and Learning web page.