Loan Product Advisor October Releases

We’re making Loan Product Advisor® (LPASM) updates in October to help you align with the Single-Family Seller/Servicer Guide (Guide) and improve your day-to-day processes – to help you work faster so you can assist more borrowers. Some of the changes this month include:

  • Retirement of Constant Maturity Treasury (CMT)-index ARMs.
  • Updates to Secured Overnight Financing Rate (SOFR) ARMs with settlement dates on or after October 1, 2021.
  • Enhancement to LPA asset and income modeler (AIM) to enable the assessment of rental income reported on the borrower’s individual tax returns.
  • Improvements to how gifts and grants will be recognized by LPA and reported on the LPA Feedback Certificate.
  • Correction of credit assessment date for assessments expiring between December 26, 2021 – December 31, 2021.

Read the October LPA release notes and the October LPA feedback messages for the full details.

Loan Quality Advisor Feedback Message Update

We’ve updated a Loan Quality Advisor® feedback message, effective on October 2, 2021, that notifies system-to-system (S2S) clients when they have exceeded a file size limit. View the Loan Quality Advisor feedback message update here.

Have You Updated Your System Access Credentials? We’re Here to Help

Guide Bulletin 2020-45 announced that we are further enhancing our access management provisioning standards, consistent with Freddie Mac’s overarching objective of protecting submitted data from security threats.

Since that announcement, we’ve been notifying clients that, starting in 2021, system-to-system (S2S) authentication credentials for Freddie Mac tools must be reset every 365 days.

If you haven’t completed this process, check out the resources provided in the Single-Family news article to help you complete this important process and avoid the risk of suspension of your access to Freddie Mac tools.