Freddie Mac Loan Prospector to Allign with Recent Guide Requirements
On November 13, Freddie Mac published an update titled Loan Prospector to Align with Recent Guide Requirements.
Loan Prospector to Align with Recent Guide Requirements
On November 24, 2014, Loan Prospector® will be updated to align with the changes to the requirements for Freddie Mac Home Possible® mortgages announced in Single-Family Seller/Servicer Guide (Guide) Bulletin 2014-18 [pdf]. With these Home Possible changes, you’ll have more opportunities to help your borrowers with an affordable lending solution for all qualifying members of the community, including first-time homebuyers, borrowers re-entering the housing market and borrowers with limited savings.
We encourage you to review Guide Bulletin 2014-18 [pdf] for the details on the changes to Home Possible, effective for mortgages with settlement dates on or after November 24, 2014.
Updates to Loan Prospector Feedback Messages
Beginning November 24, 2014, for your Home Possible mortgage originations submitted or resubmitted to Loan Prospector, you’ll receive revised feedback messages [pdf] when applicable, for all submissions and resubmissions to Loan Prospector.
For More Information
For additional details on the changes and Loan Prospector resources, please review:
- Single-Family Seller/Servicer Guide (Guide) Bulletin 2014-18. [pdf]
- October 15, 2014 Single-Family News Center article.
- Home Possible At-A-Glance [pdf].
- 2014 AMI Single-Family News Center article
- LP Feedback Messages Updates [pdf].
- Register for the “What’s New with Loan Prospector – 2014” webinar.
- Visit the Learning Center.
Please click here to view the update online.
Safeguard Properties is the largest mortgage field services company in the U.S. Founded in 1990 by Robert Klein and based in Valley View, Ohio, the company inspects and maintains defaulted and foreclosed properties for mortgage servicers, lenders, and other financial institutions. Safeguard employs approximately 1,700 people, in addition to a network of thousands of contractors nationally.