We’ve been making updates to Loan Product Advisor® (LPA℠) and its feedback messages to help strengthen the quality of loans you originate with us. Here’s what’s coming in November.

November Loan Product Advisor Releases

November’s releases include:

  • Updates to expand the LPA Key alphanumeric format to increase inventory of available combinations for some loan submissions.
  • New message (PUR0407) for condominium-financed units to notify you if the unit count exceeds 1 when the property type is Condominium.
  • Revised message text for feedback message PUR0284 related to credit enhancements for Freddie Mac Refi Possible® to align with the Single-Family Seller/Servicer Guide (Guide).
  • Updates to messages pertaining to Freddie Mac HFA Advantage® for clarity and conciseness.
  • Limiting feedback message DQC0661 from returning on conventional loan submissions since the Construction Status Type data point is only required for Federal Housing Administration (FHA) or U.S. Department of Veteran Affairs (VA) loans.

Get full details in the November release notes and check out the full list of feedback messages effective in November.

Reminder for Loans Originated to ADU Policy Expansion

The following is a reminder for lenders originating loans to our accessory dwelling unit (ADU) policy expansion announced in Guide Bulletin 2022-11. When submitting subject 1-unit primary residences with an ADU to LPA:

  • Provide the ADU rental income (if using rental income to qualify) for one borrower by choosing Accessory Unit Income for Income Type (UID 258.00) and the rental amount for Current Income Monthly Total Amount (UID 256.00).
    • If you’re on LPA specification version 5.3.00, also provide the number of ADUs on the subject property for the Accessory Dwelling Unit Count (UID 71.70 for purchase and UID 33.60 for refinance) regardless of whether you’re using rental income to qualify.

Feedback Messages Coming Soon

On December 3, we’re adding revised messages to help you quickly identify reasons why LPA returned a Caution risk class for the loan submission. One new message specific to short sale or deed-in-lieu of foreclosure will also be added. This clear and concise messaging will help you understand which action to take next with your borrower to get the loan through the risk assessment.

Review these feedback message updates.

Bookmark the Loan Advisor® Resources and Learning Webpage

Now find release notes and feedback message updates for all the tools you use more easily. Bookmark the redesigned Loan Advisor Resources and Learning webpage for quick access to the latest updates.