The September Loan Product Advisor® (LPASM) release features new enhancements and refined feedback messaging so you can work faster and smarter to stay competitive. Learn more about how you can take advantage of LPA asset and income modeler (AIM) on closed loans, uncover opportunity with early condominium project insight, get additional details with our Caution messaging and more.

September LPA Release

The September release notes include:

  • New integration with Condo Project Advisor® Project Assessment Request (PAR) statuses. Additional PAR statuses will be returned in feedback messaging to give you earlier insight into the condo project status and why the status has been assigned, all based on information pulled straight from Condo Project Advisor.
  • New feedback message to notify you early in the origination process when the condo project has a “Not Eligible” status.
  • New capability to use AIM on closed loans to access income representation and warranty relief eligibility, as announced in Single-Family Seller/Servicer Guide Bulletin 2024-10.
  • Updates to our Caution messaging, continuing our work to provide you with more detailed messages.
  • Revised text for feedback message FEI0312 to add more details about the requirements for retaining paystubs and W-2s in the loan file.
  • Update to expand the LPA Key alphanumeric format to increase inventory of available combinations for new loan submissions.
  • New capability for credit report data of an assigned loan to be returned in XML format when using Loan Assignment API to transfer ownership of a loan submitted through LPA to another counterparty.
  • Technical update to the monthly qualifying principal and interest payment calculation for adjustable-rate mortgage (ARM) loans.
  • Updated experience to receive a warning message when invalid Home Possible AdvantageSM loan program identifier is submitted.

Reminder: Trended Data Requirement

As announced in Single-Family Seller/Servicer Guide (Guide) Bulletin 2024-6 , trended data is now required in credit reports for initial LPA submissions of conventional loans. Read the August 2024 Release Notes for more information.

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