Credit Fee in Yield Add-On

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1 Introduction Credit Fee in Yield Add-On Pricing is the adjustment of the credit fee in yield for certain mortgages in a pool by adding an amount in basis points (bps) to the credit fee in yield for the mortgages, one common example being the payroll tax cut. As a result of the Payroll Tax Cut Continuation Act of 2011, Freddie Mac increased credit fee in yield by 10 basis points for all mortgages sold through the Guarantor and MultiLender programs. The 10 basis points Credit Fee in Yield Add-On Pricing is automatically applied in Loan Selling Advisor as individual loans are allocated to a Guarantor or MultiLender contract. The following table identifies where to access Credit Fee in Yield Add-On Pricing in Loan Selling Advisor SM. This document covers the following topics: Guarantor Rate Sheet... 1 Loan Pipeline... 2 Export Data... 4 Accessing Credit Fee in Yield Add-On Pricing... 5 Further Assistance... 5 Guarantor Rate Sheet Follow these steps to view, print, or export the Guarantor Rate Sheet Credit Fee in Yield Add-On pricing information: 1. Click Contracts, and then click Guarantor Pricing & Contracts. 2. Select the Pricing Identifier. 3. Select the Price Request Type, Execution Path, and Creation Method. (The data fields are dynamic and may require the selection of additional fields) Then click Next. 4. The Request Rate Sheet section displays. Select the desired parameters and then click Request Price. December

2 5. The Rate Sheet Selection page displays. If the Status is In Progress, click Update Results as many times as is needed to update the Status of your file to Completed. (The image below shows two fields, one with a status of In Progress and the other with a status of Completed.) 6. Click File Name to view rate sheet results. Files with an In Progress status cannot be viewed. 7. The Rate Sheet Results page appears. Navigate to Credit Fee, and expand the Yield subsection. The Payroll Tax Cut line item displays. To see the data, click View, or select the checkbox next to it and click EXPORT. Loan Pipeline To view Credit Fees in Yield Add-On pricing information at a loan level, do the following: 1. Click Loans, and then click View Loan Pipeline. December Page 2

3 8. The Loan Pipeline page displays. Using the Advanced Search tab (not the Basic Search tab, since that does not display credit fee columns), enter search criteria (the system requires at least one search field to be populated), and click List Loans. 9. In the results grid, click an entry in the Credit Fees Yield (bps) column to view the loan-level Credit Fees in Yield Add-on information, where the bps value displayed reflects the total credit fees in basis points for the loan. 10. The Fee Breakdown window displays all applicable credit fees at that point in time, including the credit fee addon, a payroll tax cut. December Page 3

4 Export Data The Fee Breakdown window provides a breakdown of all credit fees applied to the loan. The fees are based on the loan attributes that were priced against the terms of the contract. The Buyup Buydown Information section lists the BUBD Program Type (Note Level or Loan Level), BUBD Option (Buyup or Buydown), Amount in Basis Points, Proceeds, and Ratio. To export Credit Fee in Yield Add-On pricing data at the loan level, in either comma-delimited or MS Excel format, do the following: 1. Click Data Sets, and then click Export Delivery Data. 11. The Export Data screen displays. Make the following selections: a) Loan or Contract, for Contract Data. b) An Execution Path of Cash/Guarantor. c) A Data Set of Credit Fee Detail. d) A File Format of Comma Delimited or Excel. 2. Enter information in at least two search fields, and click Create Export File. 3. Click Build File in Background. 4. The screen refreshes. If any file shows a Status of Processing, click Refresh File Status. Repeat this step until you receive a Status of Completed. (Larger files may take longer. While the file builds in the background, you can use other functions and then come back to this page to retrieve the files.) December Page 4

5 5. View the file by clicking the File Name link. 6. A message appears. Choose to Open or Save the file. For more information on how to export data, refer to the Export Data job aid. Accessing Credit Fee in Yield Add-On Pricing Loan Selling Advisor displays the Credit Fee in Yield Add-On pricing when loans are allocated to a Guarantor or MultiLender contract. Use the Rate Sheet function to export Credit Fee in Yield Add-On price information such as the payroll tax cut. The Credit Fee in Yield Add-On pricing is not listed on monthly invoices; this information is only provided in Loan Selling Advisor. However, if loans are subject to Credit Fee in Yield Add-On adjustments post settlement due to loan data or price corrections, those adjustments appear as Buyup or Buydown Fee Adjustments on monthly seller statements. Further Assistance For questions regarding Credit Fee in Yield Add-On pricing in Loan Selling Advisor, please contact your Freddie Mac Customer Operations and Technology Services (COTS) Manager or Customer Support (800-FREDDIE). For questions regarding post-settlement billing adjustments, please Seller_Billing@Freddiemac.com. This document is not a replacement or substitute for the information found in the Freddie Mac Single-Family Seller/Servicer Guide and/or terms of your Master Agreement and/or othr Pricing Identifier Terms Freddie Mac December Page 5