Loan Product Advisor® (LPA) releases are ramping up to help expand your loan underwriting capabilities, so you can turn more of your borrowers into homeowners. From LPA asset and income modeler (AIM) enhancements to LPA updates supporting multiple Single-Family Seller/Servicer Guide (Guide) policy changes, here’s a round-up of everything to come in October.

October Loan Product Advisor Releases

October releases include:

  • New AIM service provider enumeration of “ACIR” for AccountChek® by Informative Research.
  • New eligible sources of funds (gifts and grants) and asset types (securities and retirement accounts) for AIM for assets, announced in Guide Bulletin 2023-16.*
  • Availability of the HeritageOne mortgage negotiated offering in production.
  • New feedback message to support updated title seasoning requirements for cash-out refinance mortgages secured by a manufactured home.
  • New Federal Housing Administration (FHA) positive rental history feedback message to provide direction on where to find required documents.
  • Revised feedback messages pertaining to gifts, exceeding debt to income (DTI) and FHA.
  • Revised messages to support updated documentation requirements for alimony, child support and separate maintenance. This policy change was announced in Guide Bulletin 2023-16.
  • Revised message reflecting that zero cannot be used as a monthly payment amount for student loans, aligning with a policy change in Guide Bulletin 2023-18.

*Note: If you wish to have AIM assess the new asset types, you must use an AIM service provider that has updated to our latest specifications and is able to deliver required data for the asset types. Contact your Freddie Mac representative for additional guidance on this technical change.

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