Freddie Mac Makes Loan Quality Advisor Available to Sellers

Freddie Mac Mortgage Origination

On June 24, Freddie Mac issued Bulletin 2013-11, which announced that a new web-based risk and eligibility assessment tool, Loan Quality Advisor (LQA), is now available to sellers. It is designed to help sellers identify loan eligibility issues both pre- and post-closing. The Bulletin provides information regarding a new agreement that provides the terms and conditions for sellers using the LQA. In addition, effective immediately, sellers are permitted to resubmit construction conversion and renovation mortgages to Loan Prospector after the note date or the effective date of permanent financing.