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July 27 Enhancements Enable You to Provide More Loan Data and Better Identify Loans

We’re updating the selling system to make it easier for you to provide important loan data for mortgages you sell to Freddie Mac. With these changes, you’ll be able to better identify loans you allocate to a contract and provide more, optional data for loans you sell using a Best Efforts execution.

New Effective Date for Additional Fields Required at Loan Data Import to Identify Super Conforming Mortgages

July 27 is the new effective date for additional fields required at loan data import to identify super conforming mortgages with permanent county-level maximum loan limits established by the Housing and Economic Recovery Act of 2008.

Starting July 27, Sellers will be required to provide data in the following four fields on the “Create New Loan” screen at the time of loan import:

• Number of Units
• Property State
• Property ZIP Code
• Original Loan Amount

We will update the selling system on July 27 to ensure this data is captured and provided to Freddie Mac at the time of loan delivery.

“Mortgage Conformity Type” Now Available on the “Modify Loan” Screen

In addition, we’re updating the “Modify Loan” Screen to include “Mortgage Conformity Type.” This system change will help you better identify loans you allocate to a contract and determine if the loan amount is within the county-level maximum loan limits.

Here’s how it will work:
Starting July 27, when you view the “Modify Loan” screen, you will see “Mortgage Conformity Type” at the top of the screen. The following valid values will appear next to “Mortgage Conformity Type” based on the loan amount, as defined in the Single-Family Seller/Servicer Guide:

• Conforming
• Super Conforming
• Non-Conforming
• Conforming Jumbo (for Sellers who have this sale option)

For example, if you allocate a loan that exceeds the county-level maximum loan limits, “Non-Conforming” will appear next to “Mortgage Conformity Type.” You’ll then receive a warning message, which will appear on the “New Loan Summary” page.

Optional “Note Date” Field Added to the “Best Efforts” Screen

We’re updating the “Best Efforts” screen to include the option for you to enter the note date for your loans, if you have this data available.

Starting July 27, when you go to the “Best Efforts” screen you will see a field for “Note Date” included in the list of other fields that are required to price a Best Efforts contract.  

By adding the “Note Date” field to the “Best Efforts” screen, we are:

• Allowing you to enter this data at the time you take out a Best Efforts contract.
• Making the “Best Efforts” screen consistent with the “Create Loans” screen.

 To learn more about the selling system enhancements we’re making on July 27, please contact 800-FREDDIE.