Take Advantage of Our New Low Loan Balance Execution Opportunity
Beginning on February 1, 2018, you’ll have a new cash execution opportunity for 30-year fixed rate mortgages with original balances of $200,000 or less. We're adding $200K as a low loan balance (LLB) attribute and will pay you more for loans with original loan amounts that are >$175K and ≤$200K.
Loan Selling AdvisorSM will begin displaying the cash payup information for this loan attribute in both the PDF and XML grids which we update daily. The information will be reflected in basis points across various note ranges.
However, you’ll need to follow the manual trade process for now to take advantage of this new payup offering.
Manual Trade for Now
While you’ll be able to view our payup information in the PDF and XML payup grids, contract pricing for the $200K LLB attribute will need to be completed through a spot bid process outside of Loan Selling Advisor.
You’ll need to submit a pricing request and certain loan-level data following these best practices, to receive a contract price based on the day’s cash payup levels:
- Payup pricing requests must be submitted to the Freddie Mac cash desk ([email protected]) for manual spot bids.
- The data file should include the following: product type, UPB, state where the property is located, FICO score and LTV ratio. We’ll provide a data template upon request. Contract pricing will be based on the loan-level data we receive.
- Requests and the required data must be received before 4:15 p.m. ET to ensure applicable contracts are submitted to the Loan Selling Advisor before the cash desk closes at 5:00 p.m.
We are working on automating contract pricing for the $200K LLB attribute in Loan Selling Advisor. We will inform you once this enhancement is available.
Get the Most Out of Your Loans With LLB and Non-LLB Attributes
As a reminder, you have several LLB and non-LLB attributes you can take advantage of to receive a cash payup and maximize your return. Check out the following resources for more information:
- Webpage on Cash Payups for Mortgages with Specified Attributes
- Job aid [PDF] on taking out LLB commitments
- Contact our cash desk at [email protected]
- Contact your Freddie Mac representative