| Message Code | Message Text |
|---|---|
| Note: Messages are based on loan submission and may not be applicable to all users | |
| K7 | ‘Negative Amortization Type’ indicator must be provided. |
| L6 | ‘Negative Amortization Type’ on fixed rate loan must = N. |
| O6 | ‘Negative Amortization Type’ for an ARM must = N. |
| 93 | “Neg. Am. Type’ is ineligible for an investment property. |
| 95 | ‘Negative Amort. Type’ ineligible for selected REFI prog. |
| P0,P1,P5,P7 | ‘Intended Use of Prop.’ (Occ. Type) must have a valid code. |
| OF | Intended Use of Prop (Occ Type) must= OO if loan type =FHA |
| OV | Intended Use of Prop (Occ Type) must= OO if loan type =VA |
| 80,82,83,85 | 'Amortization Type' (Plan Type) must be valid. |
| 8D | Selected ‘Purpose of Refinance’ is ineligible for cash out |
| 02 | ‘Loan Application Number’ must be provided. |
| 03 | ‘Loan Application Number’ must be valid. |
| 68, 70,71,73 | Amort. Mos. (Loan term) must contain valid number of months |
| E1, E2 | ‘Qual. PITI’ (Simulated PITI) must contain $ amount > 0. |
| 1A | This loan may be eligible for sale to Freddie Mac as an Accept Mortgage based on the information submitted to Loan Prospector. Resubmit as a conventional ‘Mortgage Type’ (Loan Type) for more information. |
| 1B | This loan may be eligible for sale to Freddie Mac as an Accept Mortgage, however, based on the information submitted to Loan Prospector, one or more purchase restrictions were triggered. Resubmit as a conventional ‘Mortgage Type’ (Loan Type) for more information |
| Q9 | ‘ARM Qual PITI’ (Sim PITI) must be >= ‘Prop Housing (PITI)’ |
| AJ | Review for accuracy: FHA and VA Underwriting Guidelines vary for temporary subsidy buydowns. Refer to Handbook and submit allowable ‘Proposed Housing (PITI)’ for qualifying. |
| EL | Review for Accuracy: Submitted Proposed Housing (PITI) {$PITI} appears to be in error. |
| GA | Review for Accuracy: Verify submitted ‘Base Loan Amount’ (loan amount) calculation meets FHA or VA eligibility requirements. |