Learning Center Updates

The summary below details recent changes to the Learning Center.
View changes related to Guide Updates, Underwriting, Mortgage Products, Selling & Delivery, or Servicing.

Subscribe to receive timely email notifications about new or changed content or training offerings.

All Sections

Date	Change	Link
10/24/08	Short Sales for the Real Estate Professional This 39-minute recorded webinar provides detailed information about Freddie Mac's requirements for short sales. If you are a real estate professional, this training will provide the basics of Freddie Mac's philosophy and general background for this alternative to foreclosure.	39-min web conference
10/17/08	Alternatives to Foreclosure for Housing Counselors This web conference for housing counselors will enhance their ability to analyze borrowers' default situations. This training session provides information about workout options, applying Freddie Mac requirements, and exploring options that can help keep clients in their homes.	90-min web conference
08/11/08	Learning Center Glossary The Learning Center Glossary has been updated to reflect new and updated definitions for the following terms in the Single-Family Seller/Servicer Guide Glossary that were effective on August 4, 2008, as announced in Bulletin 2008-1: Affiliate, Correspondent, Mortgage Broker, Retail Mortgage, Texas Equity Section 50(a)(6) Mortgage, and Wholesale Home Mortgage.	Learning Center Glossary
07/11/08	Freddie Mac Campus® Live – training event coming to Carrollton, TX Register early to attend classroom workshops of your choice. Plan to participate in highly interactive discussions with knowledgeable Freddie Mac instructors and use valuable networking opportunities with industry peers. Learn more about mortgage products, Loan Prospector®, alternatives to foreclosure, and other solutions that address your most pressing mortgage business issues.	Training Event

Guide Updates

Date	Brief Description	Link
10/4/2008	October Announcement and Guide Bulletin Updates Webinar This webinar provides an overview of the October 3rd Advisory and the October 17th Bulletin Announcements. These announcements introduce many changes to our pricing and credit requirements, as well as, introduce our new Super Conforming Mortgage Offering.	90-min web conference
10/24/08	Super Conforming Processing Reminders for Loan Prospector Mortgages Job Aid These reminders are newly developed to aid in processing super conforming mortgages. Until Freddie Mac updates Loan Prospector with the appropriate feedback messages for super conforming mortgages, you will need to apply the manual overlays provided in this job aid.	[PDF 49k]
10/24/08	Maximum LTV, TLTV and HTLTV Ratios for Conforming and Super Conforming Mortgages, and Minimum Indicator Score Requirements for Manually Underwritten Mortgages Job Aid This job aid reflects the announcements made in the October 17, 2008 Single-Family Seller/Servicer Guide (Guide) Bulletin. Use this tool to identify the new maximum LTV/TLTV/HTLTV ratios and Minimum Indicator Score requirements for manually underwritten mortgages to be applied to conforming and super conforming mortgages sold to Freddie Mac with funding or settlement dates on or before December 31, 2008, and on or after January 2, 2009.	[PDF 511k]

Underwriting

Date	Change	Link
09/29/08	Processing FHA and VA Mortgages The Processing FHA and VA Mortgages reference was updated to reflect changes the U.S. Department of Housing and Urban Development (HUD) announced in their September 4 Mortgagee Letter 2008-22 regarding a one-year moratorium on the implementation of the Federal Housing Administration's (FHA) Risk-Based Premium structure, as of October 1, 2008.	[PDF 905K]
09/25/08	How to Access Freddie Mac's Exclusionary List in Loan Prospector This quick reference has been updated to reflect the change in how you receive the exclusionary list. Freddie Mac provided the list in PDF in the past, but now it is displayed in and Excel spreadsheet. The directions in this quick reference now reflect this change.	[PDF 459K]
09/09/08	Getting Started with Loan Prospector® – Part 1 This newly redesigned live webinar will provide you with a more comprehensive look at Loan Prospector's services and the information you need to know in order to successfully enter data in Loan Prospector. You will have an opportunity to ask questions, and at the end of this session you will have a thorough understanding of: Services available through Loan Prospector What's eligible for assessment How to enter and submit data Additional resources available to you	75-min web conference
09/09/08	Getting Started with Loan Prospector® – Part 2 This newly redesigned live webinar picks up after Getting Started with Loan Prospector® – Part 1 ends on submitting a loan for an assessment. In this session we'll take a close look at the different types of Loan Prospector results you'll receive, how to validate the data Loan Prospector used in its assessment, and what these results mean to you. You'll also have an opportunity to ask questions as we focus on: Interpreting your Loan Prospector results Troubleshooting errors Assigning and releasing loans Additional resources available to you	45-min web conference
07/16/08	Processing FHA and VA Mortgages The Processing FHA and VA Mortgages reference was updated to reflect changes implemented July 13th. Loan Prospector® was updated to provide you new and updated feedback messages on the FHA TOTAL Mortgage Scorecard Full Feedback Certificate to ensure FHA loans submitted through Loan Prospector to the FHA TOTAL Mortgage Scorecard for assessment align with FHA's new risk-based premium requirements.	[PDF 905K]
07/11/08	Underwriting with Loan Prospector Don't miss this 1-day workshop for both the rookie and the veteran Loan Prospector user! Even if you've attended LP training before, this training will help you do more business and reach more borrowers.	1-day workshop
07/10/08	Loan Prospector Feedback Messages On July 13, we are updating Loan Prospector to provide you new and updated feedback messages on the FHA TOTAL Mortgage Scorecard Full Feedback Certificate to ensure FHA loans submitted through Loan Prospector to the FHA TOTAL Mortgage Scorecard for assessment align with FHA’s new risk-based premium requirements.	[PDF 21K] [PDF 290K]
06/23/08	On-site Reviews Aim for Success This recorded webcast has been updated to reflect compliance control area enhancements.	33-min recorded web conference
06/20/08	Loan Prospector Functionality References The Loan Prospector Functionality Guide and Loan Prospector Merged Credit references have been updated to reflect the enhancements made in the June 15th update to Loan Prospector including: Expanding our existing Reorder Credit Service to allow you to use the service to request a new merged credit file, in addition to credit infiles Enhancing the Loan Prospector Feedback Certificate with information to assist you in determining which version of Loan Prospector you are using Updating Loan Prospector's Merged Credit Reference Number functionality You may read more about these and all the recent changes on www.LoanProspector.com	[PDF 937K] [PDF 339K] [PDF 498K]
06/19/08	Getting Started with Loan Prospector Outreach The Getting Started with Loan Prospector Outreach webcast has been updated to reflect new functionality in the system with the June 15th release. You can now use the Reorder Credit Service option for merged credit, which will allow you to request fresh merged credit and assist in preparing your clients to become "Ready to Apply." The updates will show you how to perform the new functions.	[PDF 1.1M]
06/19/08	Loan Prospector Outreach User Guide The Loan Prospector Outreach User Guide has been updated to reflect new functionality in the system with the June 15th release. You can now use the Reorder Credit Service option for merged credit, which will allow you to request fresh merged credit and assist in preparing your clients to become "Ready to Apply." The updates will show you how to perform the new functions.	[PDF 1.3M]

Mortgage Products

Date	Change	Link
09/02/08	Home Possible Manual Underwriting Discover how you can expand homeownership opportunities and meet the needs of more borrowers by attending this 24 minute Recorded Web-Conference that will provide specific steps and tips for manually underwriting for Freddie Mac's Home Possible® Mortgages.	24 min recorded web conference

Selling & Delivery

Date	Change	Link
10/21/08	How to Calculate Postsettlement Delivery Fees This job aid has been updated to reflect the announcements made in the October 17, 2008 Single-Family Seller/Servicer Guide (Guide) Bulletin regarding changes to Exhibit 19, Postsettlement Delivery Fees.	[PDF 308K]
09/05/08	Freddie Mac Settlement Date Calendar The 1st and 2nd Quarter 2009 Settlement Calendar for MIDANET and the Selling System are now available.	[PDF 80K] [PDF 84K] [PDF 83K] [PDF 85K]

Servicing

Date	Change	Link
11/07/08	Servicing Maturing Balloon/Reset Mortgages This reference manual has been updated to provide additional direction regarding actions Servicers should take when balloon/reset mortgages reach maturity. These changes were announced in Bulletin 2008-4.	[PDF 3.50M]
11/05/08	2009 Due Date Calendar for Monthly Reporting and Remitting This quick reference outlines the 2009 monthly reporting and remittance due dates for loan-level transactions, electronic default reporting (EDR), and also includes important information about balloon/reset due dates.	[PDF 143K]
10/02/08	Managing Foreclosures and Adverse Matters We have updated this publication to reflect changes to various default management related policies, including the standardization of the initiation of foreclosure, and revised foreclosure timelines, as announced in Bulletin 2008-3 and the July 31, 2008 Bulletin.	[PDF 7.65M]
10/02/08	Alternatives to Foreclosure This publication has been updated to reflect the following changes to our policies, as announced in the July 31, 2008 Bulletin: Increased workout compensation amounts Revised title and recordation requirements for loan modifications The instances in which the loan modification agreement must be in recordable form	[PDF 4.67M]
10/02/08	Expense Reimbursement Desk Reference The Expense Reimbursement Desk Reference has been revised to reflect the new contact information for remittances to JP Morgan Chase. We have also updated the instructions for how to access Expense Manager on FreddieMac.com.	[PDF 3.1M]
09/25/08	Reimbursement for Borrower Outreach Methods Check out this new quick reference to learn about Freddie Mac's temporary requirements to reimburse Servicers for the following borrower outreach methods, as announced in the July 31, 2008 Bulletin: Door hanging service Door knocking service that results in contact with the borrower	[PDF 156K]
09/22/08	Closing the Loan Modification This quick reference has been updated to reflect our revised requirements for determining whether title insurance and recordation of the loan modification are required, as announced in the July 31, 2008 Bulletin.	[PDF 144KB]
09/22/08	Preparing to Close the Loan Modification This quick reference has been updated to define the instances in which the Loan Modification Agreement must be completed in recordable form, and to reflect our revised requirements for determining whether title insurance and recordation of the loan modification are required. All of these changes were announced in the July 31, 2008 Bulletin.	[PDF 144KB]
08/26/08	Managing Foreclosure Timelines and Preserving Deficiency Rights This quick reference has been updated to reflect the increased foreclosure timelines in 20 states and the District of Columbia, as announced in the July 31, 2008 Single-Family Seller/Servicer Guide Bulletin.	[PDF 131KB]
08/20/08	Default Management Training and Education Resources This quick reference has been updated to include links to several new offerings including the Default Management Policy Updates webinar, and our series of Solving Default Management Challenges recorded webinars.	[PDF 330K]
08/20/08	Getting Started with Default Management Getting Started with Default Management has been updated to include links to several new offerings including the Default Management Policy Updates webinar, and our series of Solving Default Management Challenges recorded webinars. We have also updated this quick reference to reflect our updated requirements for standardization of initiation of foreclosure.	[PDF 259KB]
08/07/08	Solving Default Challenges: Collections This 18-minute recorded webinar will provide an overview of default management- related challenges and best practices for collections. Learn about achieving right party contact, contacting high risk borrowers, sending Alternatives to foreclosure letters and training collectors effectively.	18-min recorded webinar
08/07/08	Solving Default Challenges: Electronic Default Reporting This 24-minute recorded webinar will provide an overview of default management-related challenges and best practices for Electronic Default Reporting (EDR). Learn about challenges with status and event code reporting, requirements for timely reporting, and Real Estate Owned (REO) reporting.	24-min recorded webinar
08/07/08	Solving Default Challenges: Foreclosure Timeline This 60-minute recorded webinar will provide an overview of default management-related challenges and best practices for your foreclosure timeline management. Review core activities in the Foreclosure Process flow including preparing and initiating, and managing the foreclosure, schedule and conduct the foreclosure sale as well as post sale activities.	60-min recorded webinar
08/07/08	Solving Default Challenges: Servicer Profile This 55-minute recorded webinar will provide an overview of default management-related challenges and best practices for the Servicer Performance Profile. Learn about the 9 individual criteria, weights, and measures for the Default Management Servicer Performance Profile as well as tips for maximizing points for each criteria.	55-min recorded webinar
07/28/08	Electronic Default Reporting Quick Reference Guide The Electronic Default Reporting Quick Reference Guide has been updated to include the file format for CPU-to-CPU transmissions.	[PDF1.1M]
07/24/08	Default Management Bulletin Guide Updates Bulletin updates from February 2008- August 2008 on Default Management changes announced for the Seller Servicer Guide. The areas of Loss Mitigation and Foreclosure/Bankruptcy are included in this session.	120 - min web conference
07/24/08	Understanding Custodial Accounts This publication has been updated to reflect that Forms 59 and 59E, as well as other worksheets and logs used in the custodial account reconciliation process, have been converted into interactive Mircrosoft Excel® worksheets. The availability of the spreadsheets was announced in Single-Family Seller/Servicer Guide Bulletin 2008-2.	[PDF 3.1M]