Freddie Mac Single-Family Seller/Servicer Guide 5101.1 — General information for using Loan Product Advisor®

This section contains information related to: ■ Loan Product Advisor® overview ■ Note Date references ■ Loan Product Advisor Mortgages ■ Non-Loan Product Advisor Mortgages ■ Feedback Certificate ■ Documentation requirements ■ Key Number ■ Number of Borrowers ■ Data accuracy and compliance with other Loan Product Advisor requirements

(a) Loan Product Advisor overview Loan Product Advisor is Freddie Mac’s automated loan assessment system that indicates whether a Mortgage is eligible for sale to Freddie Mac and whether the Seller is eligible for relief from certain representations and warranties, subject to the requirements of the Guide and the Seller’s other Purchase Documents.

(b) Note Date references For purposes of this Chapter 5101, all references to the Note Date also refer to the modification date for Seller-Owned Modified Mortgages that are Home Possible® Mortgages, or the Effective Date of Permanent Financing for Construction to Permanent Mortgages and Renovation Mortgages, as applicable.

(c) Loan Product Advisor Mortgages A Mortgage qualifies as a Loan Product Advisor Mortgage when all of the following requirements are met: ■ The Mortgage was submitted to Loan Product Advisor for the first time no later than the Note Date ■ The last submission to Loan Product Advisor is no more than 120 days before the Note Date and no later than the Note Date except as otherwise permitted in Section 5101.3(c) for resubmissions after the Note Date ■ The Mortgage received Risk Class of Accept or Caution on the Feedback Certificate based on the last submission to Loan Product Advisor ■ The Mortgage complies with all the requirements of this Chapter 5101, including delivery of the Key Number in ULDD Data Point Automated Underwriting Case Identifier

(d) Non-Loan Product Advisor Mortgages A Mortgage is a Non-Loan Product Advisor Mortgage if any of the following apply: ■ The Mortgage never was submitted to Loan Product Advisor ■ The Mortgage was submitted to Loan Product Advisor and did not receive a Risk Class of Accept or Caution ■ The Mortgage was submitted to Loan Product Advisor for the first time after the Note Date ■ The Mortgage was submitted to Loan Product Advisor but did not comply with this ■ The Mortgage was submitted to Loan Product Advisor but was not eligible to be a Loan Product Advisor Mortgage under the Guide or the Seller’s other Purchase Documents ■ The Mortgage was submitted to Loan Product Advisor, but was delivered without the Key Number

(e) Feedback Certificate Loan Product Advisor assesses data and returns a Feedback Certificate with the results of the Loan Product Advisor submission. The messages reflected on the Feedback Certificate are for guidance purposes only. These messages are not part of, and are not a replacement or substitute for, the requirements in the Guide and the Seller’s other Purchase Documents, unless specifically stated in the Guide or the Seller’s other Purchase Documents. For Loan Product Advisor Mortgages, the Seller must retain the Last Feedback Certificate in the Mortgage file.

(f) Documentation requirements The Documentation Level shown on the Last Feedback Certificate indicates the minimum level of documentation acceptable for the Mortgage (i.e., Streamlined Accept Documentation or Standard Documentation). Note: Refer to Chapter 5501 for asset documentation requirements using Streamlined Accept or Standard Documentation. The Seller must have processes in place to ensure that the requirements on the Feedback Certificate and other applicable requirements of the Guide and the Seller’s other Purchase Documents are met. If the Mortgage delivered to Freddie Mac does not comply with the requirements of the Last Feedback Certificate, the Guide or the Seller’s other Purchase Documents, Freddie Mac may require additional documentation.

(g) Key Number The Key Number is a unique identifier assigned to a Mortgage application by Loan Product Advisor when the application is first submitted to Loan Product Advisor. The Key Number is returned to the Seller on the Feedback Certificate and is used by the Seller and Freddie Mac to identify an individual Mortgage (e.g., a purchase or refinance) from application through closing and delivery. A Key Number is only valid for use with one Mortgage. The Key Number from a previously closed Mortgage may not be re-used to process or originate another Mortgage. Additionally, if the Borrower has more than one Mortgage in process, each loan must have a separate application and a different Key Number. A Key Number must be delivered for all Loan Product Advisor Mortgages. In addition, the following Mortgages must be submitted to Loan Product Advisor and a Key Number must be delivered, regardless of whether the Mortgage qualifies as a Loan Product Advisor Mortgage: ■ Super conforming Mortgages (see Section 4603.4 for underwriting requirements) ■ Mortgages secured by Manufactured Homes (see Section 5703.7 for underwriting requirements and Section 6302.25 for special delivery requirements)

(h) Number of Borrowers Loan Product Advisor cannot assess more than five Borrowers on a single application. When there are more than five Borrowers, the Seller must manually underwrite the Mortgage.

(i) Data accuracy and compliance with Loan Product Advisor requirements The Seller represents and warrants that all data and information submitted to Loan Product Advisor that results in the Last Feedback Certificate is true, complete and accurate and matches the documentation maintained in the Mortgage file, except as otherwise permitted in Section 5101.3(b) or Chapter 4602 for Construction to Permanent Mortgages and Renovation Mortgages. If the Mortgage and/or the Seller fail to comply with all requirements for a Loan Product Advisor Mortgage, the benefits and terms associated with the Loan Product Advisor Mortgage will not apply, and the Mortgage will be subject to the requirements for a NonLoan Product Advisor Mortgage and/or a Manually Underwritten Mortgage.