January Loan Product Advisor Releases

Loan Product Advisor® (LPASM) continues to get better. We continuously look for ways to improve LPA to help you assist more borrowers to finance or refinance their homes. This month’s enhancements include: 

  • Freddie Mac Refi PossibleSM enhancements. 
  • Collateral Rep and Warranty Relief shield updates.
  • LPA Feedback Certificate improvements.

Read the January LPA release notes for complete details and for the updates to impacted feedback messages.

Reminder: Legacy LPA Versions Sunset to Make Way for Enhanced LPA

On and after March 1, 2022, Freddie Mac will no longer accept resubmissions in a legacy versions (v4.8 or older) of LPA regardless of the start date or original submission date.

Loan resubmissions in newer LPA versions (v5.0.06 or newer) will require you to remove the legacy LPA version of the LP Key and resubmit your loan with a new LP Key.

This is part of the Uniform Residential Loan Application (URLA) redesign included in the Pipeline Loan Closing Period that allowed you to resubmit loans to a legacy format of LPA until February 28, 2022.

The enhanced LPA (v5.0.06 and newer) provides changes you told us would help improve your experience – and we delivered: 

  • Better organized Feedback Certificate with less scrolling and improved navigation.
  • New LPA asset and income modeler (AIM) indicators.
  • More actionable feedback messages that take the guesswork out of what to do next.
  • New PDF file capability for the Feedback Certificate.
  • Added functionality for submitting batch loan files, and more to come.

Feedback Messages Optimized to Provide Better Information

We understand that you depend on clarity and transparency in our feedback messages. That’s why Freddie Mac continuously evaluates the language we use in our messages to be actionable and transparent – and strives to provide you with messages specific to your loan scenarios. This takes the guess work out of what you need to do next to help you close more loans and get more done in your day.

Check out the latest feedback message updates we’ve made. You asked and we continue to listen.