Here’s a reminder about some of the latest August updates for Loan Selling Advisor® and a peek at what’s around the corner to improve your loan delivery process.


Critical Edits for Desktop Appraisals

Effective August 29, we’ve added a new critical edit in Loan Selling Advisor for loans with a desktop appraisal. This edit enforces the existing requirement that Uniform Loan Delivery Dataset (ULDD) Data Point, Appraisal Identifier (Sort ID 82), must be delivered when ULDD Data Point, Property Valuation Method Type (Sort ID 89), is delivered as “Desktop Appraisal.” We announced this new critical edit in our August 1 and August 18 articles.

In Single-Family Seller/Servicer Guide (Guide) Bulletin 2022-2, we announced that the previously temporary desktop appraisal flexibilities would be incorporated into permanent Guide policies. 

As a reminder, and pursuant to Guide Chapter 6302.8, Mortgage Delivery Instructions, also reflected in our Desktop Appraisal FAQ (Q27), when a desktop appraisal is used to value the mortgaged premises, you must deliver the Appraisal Identifier.

If you’ve delivered desktop appraisal loans since March 2022 that are out of compliance with this requirement, your Freddie Mac account representative will contact you with instructions on how to submit loan-level origination data correction requests using the Post Fund Data Correction tool. 

Redesigned Cash Rate Sheets and New Cash-Specified Payups

Effective August 29, we’ve added new features and options to the Loan Selling Advisor cash rate sheet to enhance your overall cash pricing experience. We announced this new critical edit in our August 1 and August 18 articles.

With predictable dropdowns and smart search options, the redesigned cash rate sheet makes it faster and easier than ever to get – and understand – Freddie Mac cash pricing.

Key Enhancements

  • New cash-specified payups for State (FL), Green and Home Possible® mortgages – improving your execution is our core mission
  • Odd note rate requests – off the 1/8 pricing for niche products
  • Custom contract periods – specify any number of days from 2 to 90
  • Bypass “on-screen” view options – less clicks to consume pricing downloads
  • Improved performance – generate rate sheets faster

Learn More

  • Join us for a free, one-hour webinar on Wednesday, September 21, 2022 from 2-3 PM EST to hear from our cash pricing experts.
  • Access our Cash Rate Sheet Fundamentals tutorial to learn about rate sheet parameters and view sample rate sheets.
  • Explore online help, Request Cash Rate Sheet topics for step-by-step instructions on how to create, view and download rate sheets.

Loan Eligibility for our New “Green” Cash-specified Payup Type

Effective August 29, as part of our cash rate sheet enhancements, we have added a new cash-specified pool type value of “Green.” 

A reminder that the eligibility requirements for loans to qualify for the “Green” cash-specified pool type are as follows:

  • GreenCHOICE Mortgages® plus solar panels: Must be delivered with ULDD Data Point Loan Program Identifier (Sort ID 404) of “GreenCHOICEToPayOffOutstandingEnergyDebt” and ULDD Data Point Renewable Energy Component Type (Sort ID 90.2) of “Solar,” OR ULDD Data Point Investor Feature Identifier (Sort ID 368) of “J28.”
  • New construction with Home Energy Rating System (HERS) Index score less than or equal to 60: Must be delivered with ULDD Data Point Investor Feature Identifier (Sort ID 368) of “J99.” Prior to delivery, you’ll need to acquire the HERS score for the loan through RESNET and confirm the score is less than or equal to 60. 
  • New construction with solar panels: Must be delivered with ULDD Data Point Investor Feature Identifier (Sort ID 368) of “J98.”

We’ve also updated our Cash Payups for Mortgages with Specified Characteristics FAQs to provide additional guidance on loan eligibility criteria for this new payup (Q10).  

To verify qualification for the payup, Freddie Mac will perform a post-fund quality control review process on loans delivered through a Green cash-specified payup contract. Any fallouts will be subject to reversal of the payup.

Cash Settlement Purchase Statement API

Effective August 18, we’re offering Cash Settlement Purchase Statement, a new application programming interface (API) that streamlines your manual tasks with fast, easy access to cash purchase settlement statement data, including funding details and loan-level Credit Fees.

Check it out in our Developer Portal or call your Freddie Mac Representative or the Customer Support Contact Center (800-FREDDIE) to learn more about how to get set up.

Accessory Dwelling Unit Delivery Requirements 

Effective September 1, you must deliver the valid value of "J66" for ULDD Data Point Investor Feature Identifier (Sort ID 368) for a Mortgage secured by a 1-unit Primary Residence with rental income generated from an Accessory Dwelling Unit (ADU).

For more information about this requirement, please review Guide Bulletin 2022-11 or read our ADU fact sheet.


Optimized Loan Pipeline Search Options

Effective September 26, we’re improving Loan Selling Advisor loan pipeline search with defaults for common search criteria and date ranges. Optimize your loan pipeline searches so you find the right data faster – and spend less time waiting.

ULDD 4a Optional Delivery for Transition Period 2

Effective September 26, Loan Selling Advisor will contain the new ULDD Phase 4a Transition Period 2 data points. During Transition Period 2, all ULDD 4a data points and valid values will be available for delivery (including optional delivery for Transition Period 1). If you’re ready to begin delivering these new data points and valid values, we encourage you to start today.

During the Optional Delivery Transition periods, you may deliver Phase 3 data or the new Phase 4a data points, but please do not deliver both.

Access our updated Prepare for ULDD Phase 4a Conversion job aid or play the ULDD Data Delivery Tips tutorial to learn more.

Required to Deliver “Enact” Instead of “Genworth” as MI Company Name

As announced in our July 21 article, effective October 3, Loan Selling Advisor will no longer accept “Genworth” as a valid value for ULDD Data Point MI Company Name Type (Sort ID 413). Instead, deliver using “Enact” as the value. Enact is the new name for Genworth. Loan Selling Advisor will accept either “Enact” or “Genworth” between August 1 and October 2.

To avoid a critical edit in Loan Selling Advisor beginning October 3, start delivering ULDD Data Point MI Company Name Type of “Enact” today.

Loan Selling Advisor Critical Edits for Total Monthly Income

Effective January 3, 2023, we’ll add a new critical edit to Loan Selling Advisor to enforce the existing requirement that ULDD Data Point Total Monthly Income Amount (Sort ID 291) must equal the aggregate of ULDD Data Point Borrower Qualifying Income Amount (Sort ID 573) for all borrowers.

If you’ve delivered loans that are out of compliance with this requirement, you should submit a loan-level origination data correction request using the Post Fund Data Correction tool. 

Need more help? Check out the ULDD webpage for all of our latest ULDD updates, technical resources and delivery requirements, or contact the CSCC (800-FREDDIE) and select the “Loan Delivery” options. We’ll guide you through it.