Using Loan Prospector

Transcription

1 Prerequisites and Setup: Account Information Checklist Credentialing requirements when submitting a request to Loan Prospector are largely dependent on how the submitter s company does business with Freddie Mac, and the type(s) of loans that will be submitted. If you have questions about your requirements or verifying your account, contact your Administrator or Freddie Mac s Customer Service to get set up (contact information at the end of this document). Freddie Mac-issued: Loan Prospector Username LP Authentication Password Seller / Servicer ID [Lenders] Third Party Originator ID [TPOs] Non-Originating Third Party ID [NOTPs] Additional Information: Credit services company (CSC) account information FHA Lender/Sponsor Identifier Lender Branch ID Browser setup The following configuration is recommended for consistent functionality within Loan Prospector. Your network configuration and permissions may be different than shown here; if you do not have access to configure your browser, contact your administrator. These may be done after logging into Path, but before accessing Loan Prospector. ) Use Internet Explorer, v9.0 or higher ) Access Compatibility View Settings - Internet Explorer 9: Compatibility View Settings may be found under the Tools drop-down menu at the top of the screen. If you do not see the drop-down menus, tap the ALT key one time, and they should appear at the top - Internet Explorer v0+: More recent versions of Internet Explorer may have a gear symbol in the upper right-hand corner; Compatibility View Settings will be found there

2 Internet Explorer 9: Internet Explorer 0: 3) In the Compatibility View Settings window, type loanprospector.com into the text box and click the Add button:

3 4) Re-access the drop-down menu, and this time select Internet Options : Internet Explorer 9: Internet Explorer 0: 5) In the Internet Options window, click the Security Tab, then the button for Custom Level :

4 6) In the Security Settings, scroll down to the bottom of the list, and Disable the option for Enable XSS filter. The Addendum Screen If there is an existing credit report that you would like to associate with the file in LP, go to the Addendum screen to enter the credit reference numbers. The Addendum screen is located to the right side of the screen while looking at the Loan Application.

5 Supplemental Information In the Addendum screen, areas are marked to let the user know where relevant information should be entered. To enter the Credit Reference numbers, click the icon to access the Merged Credit Reference Number light box. Reference numbers will automatically be sent to LP upon submission.

6 Submitting to Loan Prospector: Accessing LP Vendor Services in Path are found under the together under the Services menu: Loan Prospector Login & Credentials Select Loan Prospector from the list of AUS Vendors and then Run Select Loan Prospector for the AUS Click Run to launch the LP login interface

7 Loan Prospector Login & Credentials The User Interface allows the user to configure their request prior to submission. The types of orders are described below: Orders including credit will require selection of a Credit Service company. Reference number(s) may also be entered in LP. Where applicable, a credit affiliate company may also be selected Seller/Servicer Number LP User ID LP Password Order AUS Order Merged Credit Re-order Credit Required for all submissions Required for all submissions Required for all submissions Request for a Loan Prospector Underwriting decision Freddie Mac s Merged Credit report merges the credit findings in with the AUS report in a single file For use with existing credit reports, or for re-ordering a new Merged Credit report When ready to submit, click Send Loan to LP, or if reviewing an existing order select View LP Feedback

8 Inside of Loan Prospector: Loan Prospector Launch Screen & Order Verification When LP launches, the Request Services screen in displayed, which outlines the order request. Before selecting either Submit or Next, you may review your Order request from this screen. Merged Credit Verify that the correct Credit Service Provider is selected, and that the Borrower(s), have the correct option for Single Merged Credit (one Borrower or non-joint Borrowers). o o o On an initial order of Merged Credit, there will be no Merged Credit Reference Number (MCRN) When re-submitting for single or non-joint Borrowers verify that each has Single Merged Credit selected, and their unique Merged Credit Reference Number is filled in. When resubmitting for Joint Borrowers, there will be one Merged Credit Reference Number between them. 3 3 Check the box for Merged Credit Select the Credit provider from the drop-down box If resubmitting the file, verify or enter the Credit reference number(s) in the space provided. (on an initial order, there will be no Merged Credit Reference Number)

9 Reordering Existing Credit Reports If you have an existing Credit Report and reference number to associate with your order, check the box for Reference Number under the Automated Underwriting section, select your Credit provider from the drop-down box, and supply your Credit reference number: Check the box for Reference Number under the Automated Underwriting section Select your Credit provider from the drop-down box Verify that the Borrower(s) are Non-Joint (Single Merge), or Joint (Joint Merge With) Supply the Credit reference number(s) in the space provided Ordering New Merged Credit Check the box for Reorder Credit under the Reorder Credit section you would not supply the Merged Credit Reference Number if reordering a new Merged Credit report.

10 Reviewing the File For users that would like to go through the file within Loan Prospector, select Next, and LP will step through the file. Any required fields not already existing in the submission file will be marked. It is recommended that any changes made to the file should be done within Path itself, then submitted to maintain continuity in the system of record Order Confirmation and Submission When ready, Confirm the submission, and Loan Prospector will begin processing your request.

11 Returning the Results When Loan Prospector completes processing, the results will be displayed, along with options to View or print the file, as well as sending results back to Path with the Send to your System link in the left-hand menu. When LP has sent the file back into Path, the screen will display Success in the upper left-hand corner of the screen.

12 Loan Prospector Results in Path: Submission Status History Once back in Path, the order status has been updated, and the Casefile ID associated with the file is displayed. Viewing the Results All returned documents may be found in the Documents section.

13 Subsequent Submissions Additional orders may be placed in much the same way as described in this document. Reference numbers from prior submissions will auto-populated into the interface to help facilitate the process. Results not yet pushed back into Path may be accessed via the View LP Feedback button.

14 Resources: For questions regarding your LP Account, Underwriting Guidelines, or navigating inside of Loan Prospector Freddie Mac Customer Service Approved Freddie Mac Seller/Servicers Contact: (800) FREDDIE [ ] Third-Party Originators (888) LP ON WEB [ ] For assistance with the system of record, process flow, or other subjects related to Path Path Technical Support Path Support: (800) Ext. 04 Customer Service Hours of Operation: 9:00 a.m. - 5:00 p.m. CT, Monday Friday; Closed Saturday and Sunday Customer Service Hours of Operation: 0:00 a.m. - 7:00 p.m. ET, Monday Friday; Closed Saturday and Sunday LP s Single-Family Seller/Servicer Guide AKA The Guide