To help you make quicker decisions and underwrite more loans, we’re improving our Freddie Mac Loan Advisor® feedback messages based on client feedback and tool enhancements.

Loan Product Advisor

As part of our continued efforts to provide you with clear messaging that simplifies and clarifies what your next action should be, we’re updating several Loan Product Advisor® (LPASM) feedback messages.

  • Effective November 7, 2020, updated messages will return as critical rather than warning messages. There will also be updated housing expense messages.
  • Effective November 21, 2020, additional messages will give you more clarity in identifying loans not eligible for collateral representation and warranty relief due to their appraisal property condition rating.
  • Effective December 6, 2020, new LPA asset and income modeler (AIM) for self-employed informational messages will confirm whether a match was made between tax return data and tax transcript data, specific to eligible income sources.
  • Effective January 30, 2021, updated messages will provide more succinct language around messages related to assets and reserves – based on client feedback.

Click here to view these LPA feedback message updates.

Have you read the updates on LPA resubmission tolerances for loan amount changes? Single-Family Seller/Servicer Guide (Guide) Bulletin 2020-43 recently announced updated tolerance adjustments that provide more flexibility for resubmissions for refinance transactions on and after February 4, 2021, to help you and your borrowers save time and money.

Loan Selling Advisor

Effective November 21, 2020, if a loan has an appraisal property condition rating of five or six (C5 or C6), a warning message will display under the collateral rep and warranty tab in Loan Selling Advisor®, indicating the loan is not eligible for rep and warranty relief. Loans must have a condition rating of at least C1-C4 to be eligible for rep and warranty relief.

Loan Quality Advisor

Effective November 21, 2020, to provide you with clarity in identifying loans not eligible for collateral rep and warranty relief due to an appraisal property condition rating, we’ve updated a Loan Quality Advisor® feedback message.

Click here to view the Loan Quality Advisor feedback message update.

Stay up to date with the latest Loan Advisor feedback message changes by bookmarking the Resources & Learning web page.