TITLE

FREDDIE MAC STREAMLINES A-MINUS PROCESS

PUB. DATE
March 2005
SOURCE
Mortgage Banking;Mar2005, Vol. 65 Issue 6, p143
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
This article reports that Freddie Mac has announced changes designed to give lenders greater certainty on pricing for A-minus and Caution loans when using Loan Prospector. The changes will enable lenders to use the Loan Prospector Level returned on the Loan Prospector Feedback Certificate to determine their A-minus fees, since the Loan Prospector Level is identical to the fee rate used to calculate the A-minus post-settlement delivery fee that will appear on the monthly invoice. In addition to providing greater certainty, the new post-delivery A-minus fee assessment process will significantly cut the time lenders spend reconciling fees for loans sold to Freddie Mac.
ACCESSION #
16522440

 

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