New $250K Low Loan Balance (LLB) Cash-Specified Payup

Beginning October 12, 2021, you’ll have a new cash execution opportunity for your 30-year fixed rate mortgages with original Note amounts that are greater than $225,000 and less than or equal to $250,000.

The new $250K LLB cash-specified payup will be live on October 12 with other enhancements to the Cash Specified Payup Process announced in our August 4 Guide Bulletin 2021-27.

Testing Opportunity for $250K LLB Payup

To help you prepare we are adding the new $250K LLB cash-specified payup to our Loan Selling Advisor pre-release customer test environment (CTE) starting September 20, 2021. In the CTE you can try out all the enhancements to the Cash Specified Payup Process, including our new $250K LLB payup.

Pre-release CTE Outage

As we prepare to upgrade the Loan Selling Advisor CTE, the environment will be unavailable from 8 a.m. ET, Wednesday, September 15 until 8 a.m. ET, Monday, September 20.

Accessing the Pre-Release CTE

The pre-release CTE is the same one you are currently using to test the enhanced Cash Specified Payup Processes, as announced in our July 30 article. If you have not received your testing credentials and need assistance, please contact your Freddie Mac representative.

Once you have your credentials, access our pre-release CTE here or by copying the direct URL (https://las-uat3.fmappsuat.fmrei.com/lsp_uat3/las-sec/) into your web browser.

Free Webinar: Cash Price Sheet Enhancements and Other Training Resources

Join us for a free, one-hour webinar on Tuesday, September 28, where we’ll discuss the upcoming Loan Selling Advisor cash price sheet enhancements going into effect on October 12.

Webinar Title: Cash Price Sheet Enhancements

Date: Tuesday, September 28, 2021

Time: 2 p.m. ET – 3 p.m. ET

Sign Up for Webinar

Learn about the enhancements we’re making and what they mean to you. Here’s what we’ll cover:

  • Retirement of cash-specified payup grid.
  • New, optional checkboxes to identify cash-specified payups.
  • The cash-specified payup value will be included in the note-rate level contract prices when you create a mandatory cash contract directly from the price sheet results.
  • Ability for users to request all standard contract periods for Mandatory and Best-Efforts contract level price sheets.
  • Allow users to request rate sheet for up to three non-standard contract periods.
  • Trying out the enhancements in our CTE before they go live.
  • And more…