Learning Center Updates

The summary below details recent changes to the Learning Center.
View changes related to Underwriting, Mortgage Products, Selling & Delivery, or Servicing.

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All Sections

Date	Change	Link
10/21/08	Freddie Mac Campus® Live – training event coming to Carrollton, TX Register early to attend classroom workshops of your choice. Plan to participate in highly interactive discussions with knowledgeable Freddie Mac instructors and use valuable networking opportunities with industry peers. Learn more about mortgage products, Loan Prospector®, alternatives to foreclosure, and other solutions that address your most pressing mortgage business issues.	Training Event
6/06/08	Freddie Mac Campus® Live – training event coming to Kansas City, MO Register early to attend classroom workshops of your choice. Plan to participate in highly interactive discussions with knowledgeable Freddie Mac instructors and use valuable networking opportunities with industry peers. Learn more about mortgage products, Loan Prospector®, alternatives to foreclosure, and other solutions that address your most pressing mortgage business issues.	Training Event
5/15/08	Freddie Mac Campus® Live – training event coming to Jacksonville, FL Register early to attend classroom workshops of your choice. Plan to participate in highly interactive discussions with knowledgeable Freddie Mac instructors and use valuable networking opportunities with industry peers. Learn more about mortgage products, Loan Prospector®, alternatives to foreclosure, and other solutions that address your most pressing mortgage business issues.	Training Event
04/28/08	Training and Education Resources The Training and Education Resource quick references have all been updated to reflect recent guide change.	[PDF 100K] [PDF 40K] [PDF 82K] [PDF 63K] [PDF 320K] [PDF 327K] [PDF 52K]

Underwriting

Date	Change	Link
07/16/08	Processing FHA and VA Mortgages The Processing FHA and VA Mortgages reference was updated to reflect changes implemented July 13th. Loan Prospector® was updated to provide you new and updated feedback message on the FHA TOTAL Mortgage Scorecard Full Feedback Certificate to ensure FHA loans submitted through Loan Prospector to the FHA TOTAL Mortgage Scorecard for assessment align with FHA's new risk-based premium requirements.	[PDF 890K]
07/11/08	Underwriting with Loan Prospector Don't miss this 1-day workshop for both the rookie and the veteran Loan Prospector user! Even if you've attended LP training before, this training will help you do more business and reach more borrowers.	1-day workshop
07/10/08	Loan Prospector Feedback Messages On July 13, we are updating Loan Prospector to provide you new and updated feedback message on the FHA TOTAL Mortgage Scorecard Full Feedback Certificate to ensure FHA loans submitted through Loan Prospector to the FHA TOTAL Mortgage Scorecard for assessment align with FHA’s new risk-based premium requirements.	[PDF 21K] [PDF 393K]
06/23/08	On-site Reviews Aim for Success This recorded webcast has been updated to reflect compliance control area enhancements.	33-min recorded web conference
06/20/08	Loan Prospector Functionality References The Loan Prospector Functionality Guide and Loan Prospector Merged Credit references have been updated to reflect the enhancements made in the June 15th update to Loan Prospector including: Expanding our existing Reorder Credit Service to allow you to use the service to request a new merged credit file, in addition to credit infiles Enhancing the Loan Prospector Feedback Certificate with information to assist you in determining which version of Loan Prospector you are using Updating Loan Prospector's Merged Credit Reference Number functionality You may read more about these and all the recent changes on www.LoanProspector.com	[PDF 1.0M] [PDF 339K] [PDF 952K]
06/19/08	Getting Started with Loan Prospector Outreach The Getting Started with Loan Prospector Outreach webcast has been updated to reflect new functionality in the system with the June 15th release. You can now use the Reorder Credit Service option for merged credit, which will allow you to request fresh merged credit and assist in preparing your clients to become "Ready to Apply." The updates will show you how to perform the new functions.	[PDF 1.1M]
06/19/08	Loan Prospector Outreach User Guide The Loan Prospector Outreach User Guide has been updated to reflect new functionality in the system with the June 15th release. You can now use the Reorder Credit Service option for merged credit, which will allow you to request fresh merged credit and assist in preparing your clients to become "Ready to Apply." The updates will show you how to perform the new functions.	[PDF 1.3M]
06/16/08	Underwriting References The following references were updated to reflect the recent announcements made in the May 29, 2008 Single-Family Seller/Servicer Guide (Guide) Bulletin regarding the elimination of our declining markets policy and changes to the maximum LTV/TLTV/HTLTV ratios for certain Mortgages: Appraisal Review Reminders Freddie Mac Refinance Programs Loan Prospector® Documentation Matrix	[PDF 45K] [PDF 121K] [PDF 103K]
06/11/08	Loan Prospector® – How It Works This new recorded introductory course provides the basic information you will need to begin using Loan Prospector®, Freddie Mac's automated underwriting service. At the end of the session you will have an understanding of: What Loan Prospector is and how it can support your business needs The process Loan Prospector uses to assess your data – and why data accuracy is so important Multiple ways you can access Loan Prospector Services available through Loan Prospector The results you receive when you use Loan Prospector	40-min recorded web conference
05/29/08	Updated Mortgage Product References The following references were updated to reflect the recent announcements made in the May 29, 2008 Single-Family Seller/Servicer Guide (Guide) Bulletin regarding the elimination of our declining markets policy and changes to the maximum LTV/TLTV/HTLTV ratios for certain Mortgages: Home Possible®: At A Glance Processing Checklist for Home Possible® Mortgages Initial Interest^SMDetails for Originators and Underwriters	[PDF 68K] [PDF 54K] [PDF 45K]
04/09/08	Condominium Unit Mortgages – Project Analysis Use the following job aid to help you determine the minimum documentation you need to gather and review as documentation to ensure the project is acceptable. As part of your analysis of the project documents, you must determine and document that certain requirements and warranties are met for streamlined, reciprocal and full project reviews.	[PDF 460K]
03/28/08	Underwriting Classroom Training Materials We've updated our underwriting classroom training materials and several easy to print references to reflect policy changes that have occurred since our last update in November 2007. You will find additional clarity on topics such as condominium unit mortgages, appraiser and seller responsibilities for appraisals, and evaluation of properties located in a declining market. You may also read more about these recent changes at www.FreddieMac.com/singlefamily.	Underwriting Resources

Mortgage Products

Date	Change	Link
05/29/08	Updated Mortgage Product References The following references were updated to reflect the recent announcements made in the May 29, 2008 Single-Family Seller/Servicer Guide (Guide) Bulletin regarding the elimination of our declining markets policy and changes to the maximum LTV/TLTV/HTLTV ratios for certain Mortgages: Home Possible®: At A Glance Processing Checklist for Home Possible® Mortgages Initial Interest^SMDetails for Originators and Underwriters	[PDF 68K] [PDF 54K] [PDF 45K]
05/13/08	Home Possible What's New You asked for change and we say Yes! This 10 minute Recorded Web-Conference will introduce you to Freddie Mac's new enhancements to the suite of Home Possible® Mortgage. Attend from the convenience of your office, and learn about our new, innovative enhancements.	10 min recorded web conference
04/09/08	Condominium Unit Mortgages – Project Analysis Use the following job aid to help you determine the minimum documentation you need to gather and review as documentation to ensure the project is acceptable. As part of your analysis of the project documents, you must determine and document that certain requirements and warranties are met for streamlined, reciprocal and full project reviews.	[PDF 460K]
03/28/08	Underwriting Classroom Training Materials We've updated our underwriting classroom training materials and several easy to print references to reflect policy changes that have occurred since our last update in November 2007. You will find additional clarity on topics such as condominium unit mortgages, appraiser and seller responsibilities for appraisals, and evaluation of properties located in a declining market. You may also read more about these recent changes at www.FreddieMac.com/singlefamily.	Underwriting Resources
03/28/08	Overview of Recent Announcements and Guide Changes This is a new course offering. In the past several months, we've introduced many changes to our pricing and credit requirements through special Single Family Seller/Servicer Guide Bulletins and Announcements.	90 min web conference

Selling & Delivery

Date	Change	Link
5/23/08	Selling Mortgages to Freddie Mac – Guarantor and MultiLender Swap This training manual and user guide has been updated to reflect recent changes to the selling system including the addition of the 40 year mortgage term, and mini-pools.	[PDF 145K]

Servicing

Date	Change	Link
06/02/08	Managing Foreclosures and Adverse Matters This reference manual has been updated to reflect the following as announced in Single-Family Seller/Servicer Guide Bulletins 2008-1 and 2008-2: - Removal of our requirement to refer 1-unit foreclosures and bankruptcies (with the exception of manufactured homes) in New Jersey and the New York City metropolitan area to designated counsel - Diversification of foreclosure and bankruptcy counsel in high-volume states - Our requirement to send breach letters by the 60th day of delinquency and report the date the breach letter was sent via EDR	[PDF 3.9M]
05/05/08	Alternatives to Foreclosure Our Alternatives to Foreclosure publication has been updated to reflect recent policy changes including our requirement to send breach letters to delinquent borrowers no later than the 60th day of delinquency, and report via EDR the date the breach letter was sent, as announced in Single-Family Seller/Servicer Guide Bulletin 2008-1. We have also streamlined all content regarding developing and executing resolution plans into one chapter.	[PDF 11.3M]
04/28/08	Expense Reimbursement Desk Reference We have updated the Expense Reimbursement Desk Reference to include new expense codes 010002 - Trustee/Attorney Fees - Torrens Act, and 093003 - Pest Removal, as announced in Bulletin 2008-2. We have also included a new version of the Form 104SF that has been updated to reflect a new mailing address.	[PDF 1.9M]
04/23/08	Servicing Maturing Balloon/Reset Mortgages This reference manual has been updated to reflect that Freddie Mac will use email and fax transmissions as additional ways to send balloon/reset mortgage notifications to Servicers that are not licensed holders of MIDANET for the PC. We have also updated this manual to reflect changes made to Exhibit 85 of the Single-Family Seller/Servicer Guide, Special Reset Mortgage Title Insurance Information. All of these changes were announced in Bulletin 2008-2.	[PDF 2.3M]
04/22/08	Online Interactive Form 1134 - Maturing Balloon/Reset Mortgage Worksheet Use this new form to assist you in tracking your Balloon loans through the entire process. This automated form allows you to complete, save and reuse as the process progresses.	[DOC 298K]
04/21/08	Electronic Default Reporting Quick Reference Guide The Electronic Default Reporting Quick Reference Guide has been updated to include error messages 538 and 539 for default action (event) code 80 (Date Breach Letter Sent). We have also removed references to error messages 520 and 535 as they are no longer applicable.	[PDF 222K]
04/07/08	Investor Accounting: Resolving Loan-Level Edits Attend this 2-hour web conference to learn how to use your Freddie Mac daily edit reports to resolve reporting and remitting errors and how to prevent the same error in future cycles.	2 hr web conference
03/24/08	Investor Accounting: Resolving Loan-Level Edits Attend this 65-minute Recorded Web Conference available 24/7 to learn how to use your Freddie Mac daily edit reports to resolve reporting and remitting errors and how to prevent the same error in future cycles.	65 min recorded web conference
03/20/08	Investor Accounting: Loan-Level Transactions Attend this 55-minute Recorded Web-Conference available 24/7 to learn about what to report on loan-level transactions and when to remit funds to Freddie Mac.	55 min web conference
03/19/08	Electronic Default Reporting Quick Reference Guide The Electronic Default Reporting Quick Reference Guide has been updated to include new default action (event) code 80 (Date Breach Letter Sent). We have also added three new error messages (535, 536, and 537) related to the new code.	[PDF 222K]
03/12/08	Designated Counsel/Trustee Program This quick reference has been updated to reflect that Servicers are no longer required to use designated counsel for foreclosures and bankruptcies for one-unit properties in the New Yor City metropolitan area and New Jersey, as announced in Single-Family Seller/Servicer Guide Bulletin.	[PDF 147K]