New and upcoming Loan Product Advisor® (LPASM) updates can help you to effectively and efficiently reach more diverse borrowers. Read on to get the latest updates for LPA asset and income modeler (AIM), single-wide manufactured homes and a preview of feedback messages effective in October.

September Loan Product Advisor Releases

AIM for Income Using Tax Transcripts

  • We just announced that, effective August 2, AIM for income expanded to include tax transcripts in the income assessment for borrowers who report income on IRS Form Schedule C (Form 1040). Review associated feedback messages.

Single-Wide Manufactured Homes Update

  • Effective September 11, purchase or “no cash-out" refinance mortgages secured by a 1-unit single-wide manufactured home located on a lot, in addition to those located on a unit in a condominium project or planned unit development (PUD) are now eligible for sale to Freddie Mac. We’re also removing the age requirement for all single-wide manufactured homes. This is to align with a policy change announced in Single-Family Seller/Servicer Guide (Guide) Bulletin 2023-13. Review associated feedback messages.

Read full details about these updates in the September release notes and check out the full list of feedback messages effective in September.

Feedback Messages Coming Soon

We’re previewing feedback messages that will be effective in October:

  • AIM for assets – we’ve recently added partial representation and warranty relief for assets. Effective October 1, messages are being added to provide actionable feedback about documentation required for partial representation and warranty relief for assets. Additionally, revised messages provide clarity to users and messages no longer needed are being retired. Review the feedback messages.

These message updates align with a policy change announced in Guide Bulletin 2023-16.

  • HeritageOneSM – effective October 2, we’re adding messages to support the HeritageOne negotiated offering. We’re also updating homeownership education messages for more clarity about homeownership education requirements. Review the feedback messages.

Note: You must obtain Freddie Mac’s written approval before selling HeritageOne mortgages to Freddie Mac. Learn more about this policy in Guide Bulletin 2023-13.