RC_LP_U_301.3 Property Valuation and Reporting Using Loan Product Advisor
A collateral evaluation processes is available for loan applications entered into Freddie Mac's Loan Product Advisor (LPA) automated underwriting system (AUS). Depending on the risk classification of the loan application, assessment feedback is provided, enabling lenders to waive certain representations and warranties for the collateral.
Property Valuation and Reporting Using Loan Product Advisor explores the collateral evaluation of loan applications processed through LPA. The course begins with a discussion of the different levels of minimum assessment feedback generated by the AUS. Next, it covers the steps necessary to validate property data requirements and lists the exhibits required for minimum assessment feedback. The course concludes by summarizing how to apply project review requirements.
This is a single-family/residential course.
Seat time approximately 1 hour.