Recent Enhancements to Loan Prospector Will Help You Meet the Changing Market RequirementsOctober 16, 2007
In a changing market where technology tools play an increasingly important role, you can count on Freddie Mac to be there every step of the way with Loan Prospector® functions you need to maintain and enhance your origination business. On November 18, we enhanced Loan Prospector with a consistent and consolidated approach to help you meet changing market and third-party requirements, with additional capabilities to help you realize more possibilities for your business and your borrowers.
Our latest changes to Loan Prospector include:
- Enhancing Loan Prospector to help you meet new credit requirements issued by the national credit repositories that require identifying all viewers of credit data on a borrower's credit report. (Effective: November 18)
- Offering a new optional service, Reorder Credit Service, which allows you to request new credit infiles within an existing transaction in Loan Prospector. (Effective: November 18)
- Transitioning the invoicing of new merged credit fees, including Reference Number fees, from your monthly Loan Prospector invoice sent by Freddie Mac to the monthly invoice you receive directly from the credit reporting companies, to improve process and reconciliation efficiencies related to merged credit report option fees. (Effective: January 1)
- Loan Prospector new feedback message to help you address Home Possible® Mortgage delivery fee modifications we announced in our August 1 Freddie Mac Single-Family Seller/Servicer Guide (Guide) Bulletin.