New and Upcoming Loan Selling Advisor® Enhancements & Restrictions
Coming Soon in Loan Selling Advisor
GSE Cash Cap Webinar: Preparing to Move from Cash to Guarantor
Register now for this free training hosted by MIAC, on May 20th, and learn how Freddie Mac and MIAC are partnering to support the exchange of mortgages for securities, the optimization of liquidity and profitability, and the management of securitization risks.
GSE Overall Condition Type of C5 and C6 Appraisal Restrictions
Effective May 24, Loan Selling Advisor will fire a critical edit when the GSE Overall Condition Type is ‘C5’ or ‘C6’ in Loan Collateral Advisor®. This new purchase restriction enforces our existing property eligibility and appraisal requirements as outlined in the Freddie Mac Single-Family Seller/Servicer Guide (Guide) Section 5601.12. The critical edit does not apply when Uniform Loan Delivery Dataset (ULDD) Sort ID 51, Refinance Program Identifier, has a valid value of Enhanced Relief Refinance. Validate your Loan Collateral Advisor results before you deliver to ensure you’re ready for this critical edit.
Cash-Released XChange® SRP Pricing Based on Property Usage Type
Effective June 7, Cash-Released XChange® (CRX) servicing buyers may begin adjusting servicing released premiums (SRPs) based on a loan’s property usage type. Sellers will also have the option to provide a valid value for Property Usage Type in the Additional Servicing Released Attributes section when taking out a CRX contract or generating a cash rate sheet.
SRPs for CRX mortgages are always final on the funding date, and loan-level prices are determined at contract allocation. Providing optional information in the Additional Servicing Released Attributes section of the contract and rate sheet screens may improve SRP price certainty between the contract and loan-level pricing processes.
Online help and other technical resources for taking out contracts or generating rate sheets will be updated soon!
CMT-indexed ARMs Ineligible for Sale if Application Received Date is July 1 or Later
Effective July 1, Loan Selling Advisor will fire a critical edit to prevent delivery of Constant Maturity Treasury (CMT)-indexed adjustable rate mortgages (ARMs) that have an application received date of July 1, 2021 or later.
This new purchase restriction aligns with our announcements to retire CMT ARMs in Guide Bulletin 2020-1 and Bulletin 2020-4.
Later this fall, Loan Selling Advisor will be updated to prevent delivery of CMT-indexed ARMs with a settlement date on or after October 1, 2021.
Now Live in Loan Selling Advisor
Guarantor Rate Sheet Enhanced with Pricing Day and Pricing Identifier
You can view, print and export pricing identifier and pricing day information from the guarantor rate sheet.
Effective April 26, the pricing identifier is now displayed across all Guarantor Rate Sheet screens, including all related pop-up screens within each section. Plus, there’s a new section for pricing day information, at the bottom of the main Guarantor Rate Sheet results screen.
Finally, we’ve modified your guarantor pricing identifier terms contract to remove the pricing day language, since it’s now available in the tool.
Access our guarantor pricing and contracting resources online.
Check Out Our New Training and Webinar Resources
- Single-Family’s Sell for Securities Roadmap: Use this interactive roadmap to guide you through the process of doing guarantor business with us.
- Loan Selling Advisor Guarantor Process Flow: Use this interactive process flow to understand the steps for successful guarantor contract delivery and fulfillment.
- Guarantor Security Wire Instructions: This seven-minute tutorial demonstrates how to create and manage security wire instructions for guarantor contracts.
- Sell for Securities Frequently Asked Questions: Get help with selling mortgages through our guarantor and multilender swap executions with understanding some delivery requirements.
- Single-Family’s Sell for Securities Roadmap Checklist: Use this checklist to help guide you through the steps required to start selling mortgages to Freddie Mac through the Guarantor and MultiLender Swap executions.
- Settlement Dates for Securities Calendar: This calendar, issued on a rolling 9- to 12-month period, can assist you in tailoring your settlement activities for mortgages sold under the Guarantor and MultiLender Swap Programs.
- Daily Automated Clearinghouse House Schedule for Securities: This schedule, issued on a rolling 9- to 12-month period, can assist you in tailoring your settlement and reconciliation activities for mortgages sold under the Guarantor and MultiLender Swap Programs.
- Guarantor Rate Sheet: This five-minute tutorial will help you understand guarantor rate sheets, rate sheet components and how to generate and export them.
- Buyups and Buydowns for Fixed-Rate Guarantor and MultiLender Swap: Get help understanding buyups and buydowns for fixed-rate mortgages and how to use them to pool a wider range of note rates under one coupon.
- Buyup and Buydown Calculator for Fixed-Rate Guarantor: Get help calculating buyup, buydown and any amounts for guarantor contracts sold through Loan Selling Advisor.
- Vice Capital/Legend Lending Case Study: Find out how application programming interface (API) integration brought out the best of Cash-Released XChange® for Legend Lending, a Texas-based lender.