Loan Prospector April 26 ReleaseApril 15, 2009
On April 26, we updated Loan Prospector® to align with postsettlement delivery fee changes announced in our January 30 Single-Family Seller/Servicer Guide (Guide) Bulletin. To help you identify these changes at origination, we updated Loan Prospector with new and revised feedback messages.
The following new and updated feedback messages are effective for all Loan Prospector submissions, including new submissions and pipeline loans, on April 26.
| Message Code | Feedback Message | Purpose |
|---|---|---|
| New Feedback Message | ||
| LPR ZJ | This loan is for a Condominium and may be subject to a delivery fee. | Indicates when the property is a condo and the LTV ratio is greater than 75 percent for conventional conforming loans. |
| Existing Feedback Messages (updates to when these feedback messages are returned) | ||
| LPR 5W | This loan is subject to an Initial Interest delivery fee. | Indicates a delivery fee for an Initial InterestSM mortgage. |
| LPR V7 | This loan may be subject to an Indicator Score/Loan-to-Value ratio delivery fee. | Indicates the Indicator Score/LTV ratio delivery fee value is greater than 0.00 percent. |
| LPR J7 | This loan may be subject to an Indicator Score/Loan-To-Value ratio delivery credit. | Indicates the Indicator Score/LTV ratio delivery fee value is less than 0.00 percent. |
| LPR ME | This loan is subject to a cash-out refinance fee. | Indicates the cash-out refinance delivery fee is greater than 0.00 percent. |
As a reminder, the above feedback messages are only for guidance and the final delivery fees and credit requirements will be based on the final loan data delivered to Freddie Mac.
Please note the pricing requirement changes announced in the January 30 Bulletin became effective for all mortgages sold under flow purchase contracts with Freddie Mac settlements on or after April 1, 2009. Review our current version of Guide Exhibit 19 - Postsettlement Delivery Fees for detailed information on these changes to our delivery fees. Please note that the changes to our delivery fees will be applied in addition to all other applicable delivery fees.