In the October Loan Product Advisor® (LPASM) release, we’re introducing LPA ChoiceSM – enhanced feedback messages to deliver unprecedented, actionable information to help you identify opportunities, make faster and informed decisions and go from Caution to Accept. Along with LPA Choice, we’re also enhancing LPA with new defaults for the Self-Employed field, a new message related to employment and a technical update to the feedback certificate PDF.

October LPA Release

The October release includes:

  • New LPA Choice feedback messages that offer unprecedented information about our purchase requirements and actionable feedback that can help you make faster, informed decisions about how to proceed. Providing the information identified in the messaging can increase your likelihood to turn a Caution to an Accept. Messages relate to:
    • Debt-to-income (DTI) ratio
    • Loan-to-value (LTV) ratios
    • Reserves
  • New feedback message to notify you of documentation requirements for non-arm’s length employment. This aligns with a recent policy update in Single-Family Seller/Servicer Guide Bulletin 2024-10.
  • New default values for the Self-Employed field to prevent hard stops for submissions that do not provide a value.
  • Technical update to start using a template instead of a code-based development to produce the feedback certificate PDF.

For full details, check out the October LPA release notes and check out the full list of feedback messages effective in October.

Reminder: Condo Project Advisor® PAR Status Integration Messages

On September 29, we’re integrating additional Condo Project Advisor Project Assessment Request (PAR) statuses for condo projects directly into LPA. This integration will give you earlier insight into why a particular condo project status has been assigned. These new messages will apply to all condo loans and aren’t limited to new LPA submissions.

Learn more in the September 2024 release notes.

Run LPA, 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.