Loan product advisor error codes
Loan product advisor error codes. 2. Check your account. Apr 22, 2024 · Updated: 4/22/2024 1 Loan Product Advisor® (LPASM) Feedback Message Updates Understanding Loan Product Advisor’s Determination of Total Funds to be Verified Feedback Messages for Required Borrower Funds Loan Product Advisor returns the following messages when applicable: Code Message DOC BI Purchase transaction example: Required Borrower Funds are calculated as $42,500. Automated Underwriting System Type. xml ¢ ( ÌUËN 1 Ý›ø “n S@cŒapác©$â ”ée¦a¦mz¯ ïm c Ht3 ¶÷œÓÓötp·h›ì g ÑË»" [:mlUˆ·ñSçFdHÊjÕ8 …X Loan Product Advisor® (LPASM) Feedback Message Updates FHA Loan Lender and Sponsor Identifier Messages Effective May 22, 2024 In compliance with Federal Housing Administration (FHA) requirements specified in the Developer’s Guide for Total You are offline. Use the following information as a reference for documenting your Loan Product Advisor loans. This document lists all Loan Product Advisor training resources available to assist you with how to enter data to submit a transaction to LPA. How to Use: Enter the LP AUS Key Number for all Loan Productr Advisor ® Mortgages, including Caution Mortgages. Check out the latest message updates: Effective January 31, 2021, we’re updating one LPA feedback message to provide clearer and more actionable messaging related to down Nov 29, 2022 · Loan Product Advisor® is Freddie Mac’s automated underwriting system. Deliver a valid reference number for the data point, Credit Report Identifier (Sort ID 580), in Loan Selling Advisor. New CN2955 n/a Loan is not eligible for an appraisal Jan 21, 2021 · We’re continuously improving Loan Product Advisor ® (LPA SM ) feedback messages to help you make quicker decisions, underwrite more loans and gain a competitive edge. Sort ID. All references to Loan Closing Advisor system-to-system method is a web service call that uses SOAP over HTTPS protocol, allowing data to be encrypted in transmission. 2. Sat: 5:30am - 11pm EST. FPA0072 <<HiLnLimit1::Number2D>> is the maximum loan limit allowed for a Quality Control Advisor FAQ. Learn more. Reduced risk. 06 or above Effective September 27, 2020 Page 1 Jan 2, 2024 · Updated: 1/02/2024 1 Loan Product Advisor® (LPASM) Feedback Message Updates Mon - Fri: 5:30am - 2am EST. 3. The September 12 GSE announcement pdf details updates that align with the Enterprise Credit Score and Credit Reports Initiative requirements, the new To Assign a Loan (already assigned to you) from Other Links/Assignment Log page: Select the Assigned To Me tab or you have the option to click Filter By to add search criteria and Apply Filter to see updated results. freddiemac. Service Providers. Documentation requirements include all of the following: Y-T-D Paystub(s) Must be within 30 days of the application. Apr 1, 2024 · maximum loan limit of <<AllowableLoanLimit>> for a <<NumberofUnits>> unit property in <<SubjectPropertyCountyName>> County in <<SubjectPropertyState>>. Responses from Freddie Mac and/or the other organizations that offer services through Loan Product Advisor. Loan Product Advisor. To help you prepare for system impacts, Loan Closing Advisor will be available with new and revised warning messages for both Phase 3 critical edits and the QM Short Reset ARM Loan Closing Advisor Help Search Table of Contents Index Glossary Search % Expand/Collapse Back Required if the Automated Underwriting System Type (Sort ID 326) is Loan Prospector or Other AND the Automated Underwriting System Type Other Description (Sort ID 327) is Loan Product Advisor. Feedback Certificate New Message COW JU FPA0124 N/A Loan is not eligible for an appraisal Loan Product Advisor® Feedback Message Updates FEI0061 Unable to assess income for ~BorrowerName~ at ~EmployerName~ because the employee status code is not provided in the ~VendorName~ income report. Loan Product Advisor® – the cornerstone of Freddie Mac Loan Advisor® – gives you access to Freddie Mac credit requirements and view of credit risk so you can easily assess your loan's overall underwriting risk. The loan must be delivered with Investor Feature Identifier J44 in Loan Selling Advisor. Click to Get Started. Select Form 2070 if assessed through LP and permitted by LP. Tax returns. MeridianLink ® (CRC# 2000) Sign-up Contact Information. In order to make advantage of the professional PDF editor, follow these steps: 1. Review the Loan Documentation Message Code Original or Existing Message Text (if applicable) New Message Text Feedback Certificate, Error Page Purpose Loan Product Advisor® Feedback Message . Learn how to deliver ULDD data to Freddie Mac with these tips and best practices. Oct 15, 2023 · Loan Product Advisor®Feedback Message Updates. Prepare a file. For all Home Possible Mortgages, enter Mar 1, 2021 · DTI issues with AUS not matching Encompass - Mortgage Payment Counted Twice in Overall DTI • FMI0053 This loan requires 35% Standard MI coverage. The Loan Closing Advisor web service is a synchronous service with a single operation called Evaluate Borrower’s total equity or down payment. (Please refer to exhibit 19a for more information. Purchase or. Click the radio button next to the loan to be assigned. Data Quality Validations- Affordable Product Redesign - Effective November 15, 2020 Spec Versions 5. 328: False: False: Automated Underwriting Recommendation Description May 5, 2020 · Loan Product Advisor® Documentation Matrix. 1. 0. Cl i ck on S ervi ces> F reddi e Mac> A ddendum. Overview. , Suite 200. Feedback Certificate Decision message returned: Updated to align with Guide requirements, per Oct 13, 2022 · As previously announced in the Freddie Mac and Fannie Mae (the GSEs) announcement pdf on May 31, 2022, the UCD Phase 3 critical edits transition will be on May 1, 2023. Effective May 3, 2021 Update to Internal Revenue Service (IRS) Form 4506-T value. March 2024 Release Notes. MCL Support. Jan 12, 2024 · Freddie Mac and Fannie Mae (the GSEs) are updating the Uniform Loan Delivery Dataset (ULDD) to align with current GSE requirements and support the continued improvement of loan delivery standards. LPA Key Format Update Effective October 29 LPA Key numbers may be issued with a new alphanumeric format to increase the inventory of available combinations and Log in to Freddie Mac Loan Advisor, a suite of tools and services to help you originate and sell quality loans. 00 based on Loan Product Advisor® Loan Product Advisor • Removal of TA codes for: o Universal Credit by Xactus, #5127 o CIS by Xactus, #5022 o Xactus via ML, #2304 In this course, we will introduce you to Freddie Mac’s Automated Underwriting System (AUS), Loan Product Advisor. Effective June 3, 2024 - the following scenarios will be applicable: Mar 11, 2021 · COW JS FPA0122 N/A Loan is not eligible for an appraisal waiver because the mortgage type is not conventional. W-2 Form(s) 10-day Pre-closing Verification (PCV) Or, all of the following: Written VOE. Feb 9, 2023 · Message Code Original or Existing Message Text (if applicable) New Message Text Feedback Certificate, Error Page Purpose Loan Product Advisor® Feedback Message Loan Product Advisor returns a Feedback Certificate for each loan submission assessed. Y-T-D Earnings and most recent calendar year. Loan Product Advisor Request. When you select Enter Application, the Loan File Setup Metro Stop page will appear. Use the Add New button. There are three places that AUS credentials can be entered; Company Settings, Branch Settings, or User Settings. It's time to start your free trial. Loan Quality Advisor provides you with information about its credit risk assessment and provides a pre-delivery view of purchase eligibility. The Uniform Closing Dataset (UCD) is now required for all loans delivered to Freddie Mac with a note date on or after September 25, 2017. Review this list of questions to find answers to help you manage your post-funding quality control process. - 8 p. ëà õ¨Å £á ŒÕÌRq»à×+%oÆ‹âzµ¯¥ª„ŠÑšZ •s¯ ôÂxljСž9†. 5506 Freddie Mac Common Errors Codes. 1. , Monday through Friday. Loan Product Advisor®SM(LPA ) release notes provide updates on LPA enhancements to help streamline the way you work and offer a summary of feedback messages. Loan Quality Advisor provides you with information about Freddie Mac’s risk assessment and eligibility requirements at the point in the process when it is most useful to you. Three types of information appear on the Feedback Certificate: Selected data entered for the transaction. Remove the LPA Identifier from the Loan ID field and submit. Increased efficiency. Click the Assign Loan icon on the right side slider. €However, loans without a c LPA E rror: P LP 0005 Here i s t he sol ut i on: G o t o P oi nt / Cal yx. Loan Product Advisor Loan Product Advisor Loan Product Advisor Loan Product Advisor. m. Click here to download the Loan Closing Advisor ® Calculations spreadsheet. If you are a Company Admin or Branch Admin, your first step in troubleshooting AUS should be to make sure that you only have your AUS credentials entered in one place. Appraised value: $80,000. The loan data is automatically saved. Note: Loan Advisor supports the following browsers: Google Chrome, Mozilla Firefox, Safari, and Microsoft Edge. We recommend bookmarking the Guide link (https content. 06 or above New Messages New Messages Data Quality Validation Rental income entered on the Income tab in the Borrowers section of the Loan Application tab on the Manage Loan screen must be entered as 'Other' income, and the full PITI amount must be counted against the borrower. Customer Contact Center & System Status Hours. Product. Learn more about the LPA v5. Loan is eligible for PK ! Ý ™ F [Content_Types]. That’s the only way we can improve. To get started, watch the video to learn how to navigate through online help. Then upload your file to the system from your device, importing it from internal mail, the cloud, or by adding its URL. Eligibility Assessment Results Select the Create Loan button in the blue menu bar at the top of the page to select either Enter Application or Import Application. 326: Loan Product Advisor. Find out how to avoid common errors, use the Loan Selling Advisor tool, and comply with the latest ULDD requirements and updates. ) The new, user friendly Seller/Servicer Guide will make it significantly easier for you and your team to find, understand and share critical information. Loan Advisor LPN 32 FEI0241 N/A Based on Loan Product Advisor's overall assessment, the loan is not eligible for representation and warranty relief for accuracy and integrity of the tax return data uploaded to the service provider related to the eligible income types. com Refinance - the borrower refinances an existing obligation already secured by the borrower’s dwelling in order to change the rate, term, or other loan features, and may or may not receive cash from the transaction. Welcome to Loan Product Advisor. Learn the content of the Feedback Certificate and review the Risk Class and Eligibility. Resubmissions using this version will no longer be accepted after <<DataVersionExpirationDate>>. The lesser of the Sales Price or Appraised Value of the property. If you have questions, please contact your Freddie Mac representative or Customer Support Contact Center at (800-FREDDIE) between 8 a. Nov 14, 2021 · The loan was submitted with a Total Bulletin 2021-19 LTV ratio of ~Combined Loan To Value Percent (LPA)~%, which exceeds the maximum Total LTV ratio of 105% for a loan with an Affordable Second. A computer application that can verify a borrower’s personal information and determine whether or not they should be approved for a mortgage. SharperLending only supports technical affiliate relationships. Releases and Resources. Loan Product Advisor - August Feedback Message Updates. Service Agreements and Setup Forms. Steps to take: 1. Let us know if you liked the post. Message K9: states the area median income (AMI) for the area in which the subject property is located. Loan is eligible for a property data report until [Appraisal Alternative Eligibility Expiration Date]. Sun: 11am - 2am EST. Reduce the number of messages. enactmi. Code PLP0245 Description: The Loan Product Advisor Identifier or the LP AUS Key could not be matched to a previous submission. Costa Mesa, CA 92626. Mon - Fri: 5:30am - 2am EST. Loan Selling Advisor valid value for loans submitted through… Loan Product Advisor. Thank you for your interest in Loan Product Advisor®. Primary Employment typically should have a two-year history. October 2023. Loan Product Advisor® (LPASM) Feedback Message Updates Asset and Income Modeler (AIM) Messages As announced in Single-Family Seller/Servicer Guide (Guide) Bulletin 2024-1, AIM for income using employment data is expanding to include digitized paystub and W-2 data in the automated income assessment in LPA. By giving users access to Freddie Mac’s credit requirements, it allows them to easily identify the overall underwriting risk. Loan Product Advisor®. Mon - Fri: 5:30am - 2am EST; Sat: 5:30am - 11pm EST; Sun: 11am - 2am EST Message Code Original or Existing Message Text Loan Product Advisor Original or Existing Message Text (if applicable) New Message Text Feedback Certificate AIM is a capability within Loan Product Advisor ® (LPA SM) that automates the assessment of borrower assets, income and employment for lenders. Contact your Loan Advisor technology sales representative. Loan Advisor® delivers solutions throughout the loan process, designed to help you make the most of every loan. Navigate to Services > Freddie Mac > Loan Product Advisor. 00 Spec Bulletin have changed slightly – certain Loan Program Identifier values will not be added. When to Use: Required for all loans if an Investor Feature Identifier is required by the Freddie Mac Single-Family Seller/Servicer Guide or other purchase documents. Loan requires <<StandardMICoveragePercent>>% standard mortgage insurance coverage. If no errors are detected, confirmation pop-up will be displayed confirming your loan has been submitted to Loan Product Advisor for assessment. Code: DQC0609 - Description: Description: Funds Source Type is required for FHA loans and when Down Payment Funds Type is a Gift or Grant. Wholesale Lenders call: (800) FREDDIE [ (800) 373-3343] If you use Loan Advisor, you can assess Home Possible® Mortgages by selecting one of the Home Possible Offering Identifiers from the Loan Advisor "Offering Identifier" drop-down list. Call Loan Advisor Customer Service. This is designed to help sellers and correspondents better understand the calculation messages within Loan Closing Advisor. Messages are listed in order of the applicable Data Quality section on the Loan Assessment Summary screen. Report, tax data, and all other documentation must be ~TaxVendorName~ must be retained retained in the loan file. But Loan Closing Advisor is more than just a collection solution: It helps drive Please correct and resubmit. Tool Availability Hours. To be validated as a Loan Product Advisor mortgage, the number of delivered Borrower Taxpayer Identifiers must match the number submitted to Loan Product Advisor. Click here for instructions to access Loan Product Advisor ® through sponsored access. If errors are detected, correct the errors. Feedback Certificate New Message COW JT FPA0123 N/A Loan is not eligible for an appraisal waiver because the loan is non-conforming. com PK !²üáÌ• [Content_Types]. You then begin entering the loan information. 7 New ACE not eligible message when an appraisal is required. PK !øMƒ…Ê — [Content_Types]. in the loan file and no further documentation is required for this income. Loan Product Advisor® Loan Product Advisor® SM(LPA ) release notes provide updates on LPA enhancements to help streamline the way you work and offer a summary of feedback messages. Phone: 714-708-6950 x1405. By leveraging the expertise of third-party service providers, AIM helps deliver a simpler, more efficient loan origination process. Trying to reconnect Loan Selling Advisor Data Field Name. G o i n and change t o Correspondent Lender and t hi s wi l l sol ve t he probl em. When all of the required fields are complete, click on the Create Loan File button. Message D2: compares the v5. There are 3 product types Loan Product Advisor offer For a Mortgage to be eligible for the ACE+ PDR option in lieu of an appraisal: • The Seller must submit the Mortgage to Loan Product Advisor and receive a Risk Class of Accept • Upon evaluation by Loan Product Advisor, the Last Feedback Certificate must indicate that the Mortgage is eligible for a PDR. Feedback Certificate New message indicating representation and Let us know if you liked the post. Effective February 7. Feedback Certificate Critical message that alerts user the submitted loan amount exceeds the maximum amount allowed. FMI0032 This loan is eligible for 16% Custom MI coverage. Feedback Certificate Warning message that the TLTV exceeds the applicable limits for HeritageOne mortgage. The calling system connects to Loan Closing Advisor's web service via the required parameters. Loan Selling Advisor cannot validate this as an LPA loan because Loan Product Advisor Functionality Training Resources. W i t h new i nst al l s and some upgrades, Cal yx i s DE FA ULT I NG t hi s Rol e t o LE NDE R. AIM for Income Using Employment Data. Loan Quality Advisor is a risk and eligibility assessment tool that assesses loan data to help lenders determine if a loan is eligible for sale to Freddie Mac. LTV: 80%. 3560 Hyland Ave. xml ¢ ( ¼UKKÃ@ ¾ þ‡°Wi¶V ‘¦ | UPÁëš 6K÷Åδ¶ÿÞÉV‹Hm-)^ ’Ýù^³™ ¯ Î sHh‚¯ÄiÙ ø:hã'•xy¾ë]ˆ IylðP‰% ¸ Ÿ— °àj •hˆâ¥”X7à –!‚ç•qHN ?¦‰Œªžª ÈA¿ . Print. Apr 15, 2024 · AUS Troubleshooting Guide. Additionally, test and production dates for each Duty to Serve product are provided. The Submitting Role type selected on the Freddie Mac Addendum screen does not align with the role entered in the Freddie Mac Loan Product Advisor Setup screen. xml ¢ ( Ì–ÑNÛ0 †ï‘ö ‘o§Æ-lŒ¡¦\lì $Ø ˜ø41ulËçíÛsb ªPiUµÒ|“ÄqÎÿ >Ž’ |1ïlñ w• •CQ€«½6 Sep 6, 2022 · Message Code Existing Message Text (if applicable) New Message Text Loan Quality Advisor Message Matrix Tab Comments RA0011 High likelihood of Accept. FMI0032 This loan is eligible for 16% las. Note: Prior to delivery, acquire the HERS Code Existing Feedback Message New Feedback Message Loan Quality Advisor Message Matrix Tab Comments New CN2954 n/a Loan is not eligible for an appraisal waiver because the loan is non-conforming. ”. October 5, 2020 - Loan Product Advisor Feedback Messages Revised Messages Effective December 5, 2020 Deleted Messages Asset & Reserves Spec Versions 5. Credit Reporting Company and Technical Affiliate Updates The semi-annual updates to credit reporting company and technical affiliate names and codes have been TOP LOAN CLOSING ADVISOR® CRITICAL ERROR MESSAGES 3| PUBLIC Deposit on Sales Contract Data Point Requirements In order to reduce the number of edits that display in the feedback message, the same message code will fire if the requirements for any of the 3 data points below are not met. Feedback Certificate New Purchase Restriction available with ULAD datapoints to align to Seller/Servicer Guide section 5703. How it Works How it Works How it Works How it Works. Even if there is no deposit on a purchase LPN 23 N/A Based on Loan Product Advisor's overall assessment, the loan is not eligible for income representation and warranty relief; however, it may be eligible for relief offered through Freddie Mac's selling representation and warranty framework. Example: Mortgage: $100,000. Please contact the vendor in an effort to make this information available and resubmit to request income validation. Feedback Certificate New message to alert user that LPA version used to originally submit loan is retired and resubmissions will only be Loan Product Advisor Help -Search- Table of Contents Index Glossary Search % Expand/Collapse Back Loan Product Advisor - Feedback Message Updates Revised Messages Purchase Restrictions Assets and Reserves FHA Effective Date - December 3, 2019 Data Quality Validations New Message Effective Date - January 25, 2020 Page 1 Nov 14, 2021 · Prior Version Message Category Prior Version Message Code New Version Message Code Original or Existing Message Text (if applicable) New Message Text This Guide Bulletin announces: Asset and income modeler (AIM) The introduction of automated income assessment with Loan Product Advisor® using account data (direct deposits) Two enhancements for automated income assessment with Loan Product Advisor using tax return data (tax transcript and tax extension) – April 15, 2022. Additionally, Loan Quality Advisor gives you This loan was originally submitted using Loan Product Advisor (LPA) version <<DataVersionIdentifier>>. Refinance. Billing Contact Information. Feedback Certificate Consolidation of Standard Mortgage Insurance into one message to represent the percentage through dynamic data. For complete documentation information and specific program eligibility requirements, refer to the Freddie Mac Single-Family Seller/Servicer Guide (Guide). Steps to Take FEI0119 Unable to assess the base income at this time for + %LPA Full Name Per Borrower% + " at " + %Borrower Employer Name (Third Party)% + " provided by " + %Income Verification When you are ready to submit a Loan: Click the Submit button from any of the data entry pages. Learning Objectives: Understanding how Freddie Mac’s LPA is utilized in the mortgage application process. How to Use: Select "Property Inspection Alternative" if assessed through Loan Product Advisor® (LPA) and permitted by LPA. Jul 9, 2023 · Message Code Original or Existing Message Text (if applicable) New Message Text Feedback Certificate, Error Page Purpose Loan Product Advisor® Feedback Message Mar 19, 2024 · Hours of Operation. The relationship between: The amount of money borrowed= Loan Amount. Please correct and resubmit. This new feature provides transparency if any borrowers on the loan are eligible for Credit Fee Caps. 1&P r¶ŒÉ0cz "6†BnäL`q?ÒOW%Wfaؘˆ'lý †våwWŸu loan application files with an original submission date on or after May 1, 2021. Desktop Underwriter: Loan Manual Underwriting Indicator. For new construction properties with Home Energy Rating System (HERS) Index score less than or equal to 60, deliver IFI of “J99. Feedback Certificate Based on the data submitted, a property data report may be obtained in lieu of an appraisal. This indicates the type of loan product the borrower has chosen. Single-Family Seller/Servicer Guide(Guide) Bulletin LPN 53 N/A N/A This loan was originally submitted prior to the Uniform Residential Loan Application (URLA) mandate on March 1, 2021 using the prior version In the “General Messages” section of the Loan Product Advisor Feedback Certificate, review the following messages: Message 81: verify the borrower’s qualifying income meets the HFA program’s income limits. Including step-by-step instructions, tips and best practices in using Loan Product Advisor Direct Entry access via the Freddie Mac Loan Advisor Loan Product Advisor® (LPASM) Feedback Message Updates Condominium Projects: Not Eligible Status Messages The following messages support updates to the condo project policy announced in Single-Family Seller/Servicer Guide (Guide) Bulletin 2023-24. 06 enhancements you asked us for and check out the resources that can help you save time, money and make loan production more efficient. Loan Quality Advisor. - Description: Description: When an ASSET that is a Gift or Grant is present, at least one Down Payment must be entered. Results generated by Loan Product Advisor. Loan Closing Advisor, Freddie Mac's UCD collection solution UCD, helps you validate that your closing data aligns with the UCD. All references to effective dates within this document are for the LPA message effective date. Under “S ubmi t t i ng Rol e” use t he dropdown t o sel ect “Correspondent Lender”. Refinance the LTV is calculated off the Appraised Value. If a property data report Jul 25, 2022 · FMI0053 This loan requires 35% Standard MI coverage. Sep 19, 2022 · New Version Message Code Original or Existing Message Text (if applicable) New Message Text Feedback Certificate, Error Page Purpose FAR0103 Loan was submitted with Effective with this release, we’re improving Loan Quality Advisor feedback and export features for lenders by including an indicator for First Time Homebuyers. PUR0391 N/A The TLTV ratio of <<CombinedLTVRatioPercent>>% exceeds the maximum of 95% for a HeritageOne mortgage secured by a 2- to 4-unit property. Select Form 2075 OR "Property Inspection Waiver" if permitted by Seller's negotiated term. Mon - Fri: 8am - 7pm EST. ab eo bd oa sf pd js wf uj kq