LPA Choice: Identify Opportunity to Get to Accept
Enhanced Loan Product Advisor (LPASM) feedback messages will now deliver unprecedented, actionable information – so, you don’t miss opportunities to turn Cautions to Accepts.
Introducing LPA ChoiceSM
When a loan receives a Caution risk class, loan originators may be unsure about how to proceed and might even consider it a hard stop. However, a Caution can be an opportunity, one that with more information about our purchase requirements, could turn into an Accept. We’re introducing LPA Choice to help uncover that opportunity.
Your loan originators always have a choice to use LPA feedback to turn Cautions into Accepts. Our new LPA Choice feedback messages can help make that choice easier.
For certain loans that receive a Caution risk class, LPA Choice feedback messages offer unprecedented information about our purchase requirements and actionable feedback that can help loan originators make faster, informed decisions about how to proceed. If your loan originators can provide the information identified in the messages and resubmit to LPA, the loan is more likely to turn into an Accept.
The LPA Choice messages use dynamic data points for three specific loan characteristics:
- Debt-to-income (DTI) ratio
- Loan-to-value (LTV) ratios
- Reserves
Run with Opportunity
LPA Choice is our latest enhancement focused on helping you identify opportunities. Want to learn about more ways running LPA can help? Check out our Run with Opportunity web page for helpful tips and resources.