Loan Product Advisor® (LPASM) has expanded its asset and income modeler (AIM) offerings with solutions to help clients keep their competitive edge. Find out how AIM for income using direct deposits and the latest AIM for self-employed enhancements can help you drive loan origination efficiency through automated verification.

AIM for Income Using Direct Deposits Has Arrived

On March 2, 2022, Single-Family Seller/Servicer Guide (Guide) Bulletin 2022-5 announced AIM for income using direct deposits offering that helps to:

  • Reduce the burden of obtaining traditional documentation.
  • Close loans faster by including both income and assets in one verification report – saving time and money.
  • Provide a superior borrower experience resulting in increased business.
  • Prevent fraud by obtaining borrower data from third-party service providers.
  • Increase your confidence that the income amount submitted to LPA is supported by AIM’s assessment.

AIM for income using direct deposits is now available in LPA – get your competitive edge and start using it today.

New Training Opportunity: AIM for Income Using Direct Deposits Webinar

Want to save time when assessing the borrower’s income by using automation? Want to drive a more efficient loan origination process by leveraging our latest AIM for income using direct deposits? Join experienced trainers in this free webinar as they review what you’ll need to know, how the process works and help you understand the results.

Date: March 7, 2022

Time: 10:30 a.m. – 12:00 a.m. EST

Register today by clicking here.

Can’t make this session? No worries. Click the link for other date options. Sessions are filling up so register today!

AIM for Self-Employed Enhancements

Effective April 15, 2022, AIM for self-employed will include two enhancements:

  • The ability to request tax transcripts from the IRS through a designated third-party service provider.
  • Tax extension updates.

To learn more about these changes that can help your business, read Single-Family Seller/Servicer Guide Bulletin 2022-05.

Latest LPA Feedback Messages Updates

No one likes ambiguous answers. No one. Especially when you depend on answers to get your work done. That’s why we continuously support your need for clarity and transparency in our LPA feedback messages.

Check out the latest LPA feedback messages that include:

Reminder: Legacy Versions of LPA Are No Longer Available

Effective March 1, 2022, clients no longer have access to LPA legacy versions (v4.8 or older).

If you attempt to use a legacy version of LPA, what you experience will vary based upon how your organization accesses LPA.

  • If you use LPA through direct access and attempt to use a legacy version of LPA on or after March 1, the “Prior Version” button will no longer display since access to all legacy versions are no longer an option. A message in orange will also display requesting you log in with a current version of LPA.
  • If you use LPA through system-to-system (S2S) integration and attempt to use a legacy version of LPA on or after March 1, you will receive one of two following responses:
     
    • Error 500: Server encountered an unexpected error
    • Error 503: The server is temporarily unavailable

Clients can only submit and resubmit loans in LPA versions 5.0.06 or newer. This also requires clients to remove the legacy LPA version of the LP Key and resubmit your loan with a new LP Key.

Have questions? We’re here to help. Contact your Freddie Mac representative or the Customer Support Contact Center (800-FREDDIE) today.