The Loan Selling Advisor® July 2023 enhancements are here…let’s give your loan delivery process a boost.

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Updates to Loan Selling Advisor ULDD Phase 4a Export Technical Specification

In line with the “Clarification of Servicing Contract Rights” announced in an April communication, updates to Uniform Loan Delivery Dataset (ULDD) terminology and language have been made to the Implementation Guide for Loan Selling Advisor Export (Phase 4a) Implementation Guide for Loan Selling Advisor technical specification.

For information on ULDD, please refer to the ULDD webpage.

Check Out Our Latest Training Resources

  • NEW! Best Efforts Overview – Learn about the Best Efforts execution, contract options, extensions, relocks and servicing options in Loan Selling Advisor. You’ll also learn about best efforts training resources and will have the opportunity for questions and answers with a Freddie Mac subject matter expert. Register for an upcoming Best Efforts Overview Webinar scheduled for August 30.
  • Purchase Contracts Overview – This 5-minute on-demand tutorial contains an overview of Freddie Mac’s purchase contracts, contract types and the contract life cycle. View the resource.
  • Assess/Evaluate Loans – This tutorial covers the process for assessing/evaluating loans, including assessment options, viewing results, and clearing critical errors. Take the tutorial.
  • ULDD Data Delivery Tips – This tool provides guidance on how to deliver the ULDD in Loan Selling Advisor to ensure accurate data and avoid data delivery errors. Check out the tips.
  • Getting Started with Loan Selling Advisor Online Help - Learn how to navigate through Loan Selling Advisor online help.

*Forgot your Freddie Mac Learning password? On the Sign In screen, click “Forgot Password?” and follow the instructions.

Questions? Contact Freddie Mac Learning. Share your feedback here.

COMING SOON

Loan Selling Advisor CTE01 Retirement

Effective August 1, and noted in our June 22 communication, the Loan Selling Advisor Client Testing Environment (CTE01) will be retired. Instead, you will use our user acceptance testing (UAT) Production Baseline CTE to meet your Loan Selling Advisor testing needs. Be sure to delete bookmarks to the retired environment, CTE01.

If you don’t have access to the UAT Production Baseline CTE or have questions, reach out to your Freddie Mac representative.

Auto Evaluate on Import Loan

Effective August 7, if you import loans, the checkbox for “Evaluate the loans in this file at import” in Loan Selling Advisor will be pre-selected to help you save time. If you don’t want the loan to be evaluated at import, you may deselect the checkbox before submitting your loans.

If you have any questions, contact your Freddie Mac representative or the Customer Support Contact Center (800-FREDDIE).

Upcoming Maintenance for Freddie Mac Technology Tools

We communicated several upcoming extended maintenance windows for Loan Selling Advisor, Selling APIs, and XChange CenterSM as part of our ongoing efforts to improve the resilience of the tools you rely on. As we continue these efforts, we want to remind you of two upcoming maintenance windows

  • July 29 - From 9 p.m. ET on Friday, July 28, through 9 p.m. ET on Saturday, July 29. All features of Loan Selling Advisor, Selling APIs, and XChange CenterSM will not be available.
  • August 26 - From 2 a.m. ET on Saturday, August 26 through 9 p.m. ET on Saturday, August 26. Some features of Loan Selling Advisor will not be available.

You may also always refer to our Technology System Status page for the most up-to-date information about the status of our technology tools. We encourage you to bookmark this page for future reference.

If you have any questions, contact your Freddie Mac representative or the Customer Support Contact Center (800-FREDDIE).

Critical Edits for Sales Concessions and Purchase Price Amount

In April 2023, a new Warning message was added to Loan Selling Advisor for loans originated using Loan Product Advisor® (LPASM). The message reinforces the existing Guide requirements in Section 5501.5(c), Sales concessions and Section 6302.5, Loan data required for all Mortgages. Guide Bulletin 2022-7 included a reminder that for ULDD Data Point Purchase Price Amount (Sort ID 195), you must enter the purchase price amount of the property net of any adjustments made for sales concessions.

Effective October 2, we’ll update the Warning to a Critical message, preventing loans from being delivered when there is a discrepancy between LPA and Loan Selling Advisor data. We encourage you to update your processes and systems to meet all delivery requirements well in advance of the October Critical message update.

Post Fund Data Correction Tool will also be updated to reflect the new Critical messages in October.

Need more help? Check out the June 26 communication for additional information.

Retirement of Original HMDA Data Points

Effective November 6, for all newly imported loans, the current format for the following three ULDD datapoints will no longer be accepted and you must use the new format:

Original FormatNew FormatMISMO v3.0 Definition
Sort IDMISMO v3.0 Data Point NameSort IDMISMO v3.0 Data Point Name  
608GenderType608.3HMDAGenderTypeThe borrower’s or interviewer’s statement about the borrower’s gender.
609HMDAEthnicityType609.1No ChangeThe borrower’s or interviewer’s statement about the borrower’s ethnicity as defined in the Home Mortgage Disclosure Act.
610HMDARaceType610.5No ChangeThe borrower’s or interviewer’s statement about the borrower’s race as defined in the Home Mortgage Disclosure Act. Up to 5 Race Types may be included per borrower.

The retirement of these Home Mortgage Disclosure Act (HMDA) data points (ULDD Sort IDs 608, 609 and 610) and replacement with the new datapoints (ULDD Sort IDs 608.3, 609.1 and 610.5) was outlined in the ULDD Phase 3 documentation which included the following Implementation Note: This data point will not be supported after May 2019.

Visit the ULDD FAQs, question #9 under “Demographic Information” for more details.