RC_LP_U_303.3 Evaluating Loans with Loan Product Advisor
MBA Member Price: $49.00
Nonmember Price: $79.00Purchase
This is a single-family/residential course.
Loan Product Advisor (LPA) is an automated loan evaluation system that makes a purchase decision for Freddie Mac, eliminating many of the manual processing and underwriting requirements of traditional mortgage processing. LPA can assess almost any type of mortgage application, including conventional/conforming mortgages, conventional/non-conforming mortgages, and FHA and VA mortgages.
Evaluating Loans with Loans Product Advisor focuses on the use of Freddie Mac's AUS to evaluate conventional/conforming mortgages. This course begins with a review of loans eligible for LPA review, a tour of LPA, and additional training information. Next, it addresses LPA feedback, risk class, and documentation levels. The course goes on to describe LPA requirements related to credit, income, assets, and property. Toward the end of the lesson, LPA resubmission guidelines are covered. The course ends with a case study which allows the participant to practice the information presented in the course.
Seat time approximately one (1) hour.