Run with Opportunity
Don't miss a homeownership opportunity. Top ways to clear Cautions in Loan Product Advisor® (LPA®).
Getting a Caution risk class in Loan Product Advisor is not rejection. It’s a redirection to uncover missed opportunities that are more tailored for your borrower. Check back frequently for updated tips and resources.
Feedback, Evolved
A redesigned feedback certificate helps speed up your intake of essential information. Check out the new certificate to see the latest:
- New Caution and Opportunity Message Sections
- New Employment and Income Grid
- Enhanced Asset Details Grid
- Highlighting Actionable vs. Informational Messages
Note: Adoption of LPA specification v6.0 is required to take advantage of these updates.
Work More Efficiently and Feel More Confident in Your Income Calculations
Save time, improve accuracy and uncover more opportunities for income representation & warranty (R&W) relief eligibility with the Freddie Mac Income Calculator. This free, online tool helps you calculate income for wage earners and self-employed borrowers. It also streamlines calculations from simple paystubs and W-2s to detailed tax returns.
Assessment on Your Terms
You can run the Freddie Mac Income Calculator prior to submitting to LPA with fewer data points. You can even select to have LPA automatically retrieve calculator results.
Learn more about automatic retrieval here.
Guidance for Next Steps
Click here to launch the calculator. No login or protected personal information required. Please note: the calculator is intended for use by mortgage professionals only.
How This Helps Get to Accept
Determining eligibility for income representation & warranty (R&W) relief helps streamline the underwriting process and can lead to more confident loan closings.
Drive a More Efficient Workflow
To provide more clarity and streamline your experience, we’re adding formatting, simplifying almost 250 feedback messages and retiring nearly 500 more.
Guidance for Next Steps
Ensure you are on LPA v6.0 to see the latest message formatting. Contact your technology provider for questions about what version you’re using.
New Feedback Message Sections
As part of our feedback certificate redesign, we’ve added new Caution and Opportunity message sections to give clearer insight into factors that are causing a loan to receive a Caution risk class or potential missed opportunities for your borrowers. In addition, new Actionable vs Informational message categories help prioritize messages that offer actionable feedback so you can quickly focus your efforts on actions you need to address.
How This Helps Get to Accept
As a direct result of your feedback, providing more transparency of requirements and required actions will ultimately help streamline your experience, helping you get to Accept faster.
Getting to Accept Just Got Easier
A new banner at the top of the feedback certificate helps notify when one or more LPA Choice® feedback messages are returned.
LPA Choice messages provide actionable information to help you make faster, more informed decisions that can turn Cautions to Accepts.
Locate the Message Code
When you see the banner at the top of the feedback certificate, look for messages FCL0434, FCL0435 and/or FCL0436 that provide the specific additional qualifying income, down payment or reserves required.
Guidance for Next Steps
Help the borrower fulfill the requirement and ask them:
- Have they disclosed all income sources?
- Are there any gifts, grants or additional cash they can put towards the down payment?
- Have they disclosed all their available reserves?
How This Helps Get to Accept
Lowering the DTI, LTV/TLTV or adding additional reserves may help you meet underwriting guidelines.