Loan Prospector June 14 ReleaseMay 21, 2009
On June 14 to help you address the impact at origination of several of our recent requirement changes, Loan Prospector was updated to:
- Add new and updated existing feedback messages to reflect requirement changes announced in recent Single-Family Seller/Servicer Guide (Guide) Bulletins.
- Allow the Federal Housing Administration (FHA) and Department of Veterans Affairs (VA) new construction loans to be assessed through Loan Prospector. This enables FHA and VA loans that meet the requirements for new construction loans to use 180-day credit freshness instead of the current 120-day credit freshness.
- Add new and revised feedback messages to support updates to the credit requirements for super conforming mortgages outlined in Guide Bulletin 2009-09 issued on April 16.