Topic: Loan Prospector
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Answers to Common Questions
Why is Loan Prospector standardizing addresses?
In order to ensure data integrity, Loan Prospector will use the US Postal Service database to verify that the subject property address exists and is entered correctly. The addresses will be included in the Feedback Certificate in a standard... Read More »
Source: http://www.loanprospector.com/news/lpenhancement_faq.html
How do I access Loan Prospector Outreach®?
Loan Prospector Outreach is a powerful, web-based tool that enables housing counselors to objectively and more efficiently assess whether their clients are ready to apply for a mortgage. It's able to conduct a reliable client assessment, of... Read More »
Source: http://www.freddiemac.com/homepossible/faq.html
How do I access Loan Prospector®?
Loan Prospector® is Freddie Mac's platform of innovative, easy-to-use mortgage origination tools and services that let you do more loans with less work. Our automated underwriting service uses the latest data and networking technology to en... Read More »
Source: http://www.freddiemac.com/homepossible/faq.html
More Common Questions
Answers to Other Common Questions
Loan Prospector requires no set-up, application development or licensing fees. You pay only $20 to submit a loan to Loan Prospector for evaluation. For $20, you'll get: A Loan Prospector assessment in minutes Infile credit reports from the ...
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Source: http://www.loanprospector.com/about/
The client will make an initial contact with a housing counselor. The housing counselor then inputs the client's data, reviews the client's credit history, and considers the various financing and mortgage options. Loan Prospector Outreach c...
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Source: http://www.freddiemac.com/lpoutreach/lpo_faq.html
There is no cost for set-up. For a limited time the Loan Prospector Outreach transaction fees will be waived; however, fees will be assessed for merged credit reports and the Reorder Credit Service option. The Reorder Credit Service option,...
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Source: http://www.freddiemac.com/lpoutreach/lpo_faq.html
We recommend using a currently supported version* of Internet Explorer for use with Loan Prospector Outreach * For the latest and most complete list of hardware and software requirements for Internet Explorer 6 SP1, please visit Microsoft's...
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Source: http://www.freddiemac.com/lpoutreach/lpo_faq.html
Wholesale lenders may require third party originators (TPOs) to only use merged credit and/or merged credit Reference Numbers. TPOs should check with their wholesale lender for more information.
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Source: http://www.loanprospector.com/news/mergedcredit-qanda.html
The REO data used in Loan Prospector is not comprehensive. If no message is returned, then the stated subject property address does not match an address in the REO data. It could however, have been in an investor REO portfolio, but that dat...
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Source: http://www.loanprospector.com/news/reofaq.html
Loan Prospector will compare the stated subject property value against a property estimate provided by Home Value Explorer® (HVE), Freddie Mac’s automated valuation model. If the stated subject property value is significantly higher than th...
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Source: http://www.loanprospector.com/news/lpenhancement_faq.html
