Freddie Mac’s Loan Prospector and Calyx Software are currently working together to improve your customer experience by making enhancements to the Freddie Mac interface in the Point 5.3 release coming in June. Until that release, please see the following tips and web links to help you use the current interface.

1. Entering Liability Type & Number of Months Remaining for Installment Loans
   In order for the Total Monthly Debt and ratios to calculate properly, the liability type must be identified on Freddie Mac page 3 Loan Application. The number of months for all liabilities other than revolving must be completed and show a number of 11 months or greater in order to count in the total debt amount. Revolving liabilities will be counted in the total regardless of the number of months remaining. Liability types of "other expenses" or "30 day account" will not count in the total and should be changed to "installment," "mortgage" or "revolving".
   More: 0452 Common Problems With the Freddie Mac Interface

2. Matching Real-Estate-Owned Properties to Mortgage Liabilities
   Multiple real-estate-owned properties must be matched on the Freddie Mac Addendum screen. Go to: Interface > Freddie Mac > Addendum, select the REO, then select the corresponding liability and click on Match.
   More: 0452 Common Problems With the Freddie Mac Interface

3. Invalid File-Format Errors Caused by Improper Setup
   One reason invalid file-format errors can occur is if the setup is not completed properly. To set up the interface, select Utilities and choose Freddie Mac Loan Prospector Setup. If you are a Broker or Third-Party Originator, you must enter the generic Seller/Servicer number, 121555, during setup. Freddie Mac-approved Sellers should enter their Freddie Mac-assigned Seller/Servicer number. Choose a credit vendor. You can make changes to the credit company, if necessary, once the loan is imported into LoanProspector.com on the Request Services page.
   More on Setup: http://www.calyxsupport.com/downloads/Freddie_Mac_Quicksteps.pdf
   Other reasons for invalid file-format errors can be found at: 0452 Common Problems With the Freddie Mac Interface

4. Other Support Tips

• The Loan Prospector Offering Identifier field is located on the addendum just below the HELOC fields. The Home Possible offering IDs are not in the drop-down selection but can be entered directly in the field with the appropriate three-digit code.

• The self-employment indicator is on page 2 of the Loan Application in Point and interface Freddie Mac page 2.