Third Party Transaction Services. December 2017

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1 December 2017

2 Table of Contents Overview of... 0 Overview of... 2 Process Flow... 2 Adding and Accessing Loans in Loan Selling Advisor... 2 Originator Pipeline... 3 Evaluate Loans... 4 View Evaluation Issues... 8 View/Modify Loans Submit Loans to an Aggregator View Loans Submitted to an Aggregator View Loans Transferred to an Aggregator Delete Loans Export Customized Data Sets December 2017

3 Overview of Freddie Mac s (TPTS) is an online tool designed to assist you with managing and monitoring loans you transfer to an aggregator. By using third party transaction services, you can take advantage of the technology capabilities you need to make selling loans easy, convenient, and seamless. The TPTS functionality allows the seller to enter loan data in Loan Selling Advisor SM that the seller intends to sell to an aggregator. The aggregator will review the loan data for the mortgages in the seller s TPTS pipeline and select the mortgages they want to purchase. The seller must comply with the requirements of the tri-party agreement including, Section 10, (i) through (iv) which contains: Loan Selling Advisor User Agreement, Consent to Electronic Transactions, Incorporation of Loan Selling Advisor, Special Warranties and Representations and The TPTS Functionality Amendments. Process Flow Loan Selling Advisor s Third Party functionality simplifies the process of submitting and transferring loans to an aggregator. Once you enter loans in Loan Selling Advisor, you can search for loans; display loans entered into Loan Selling Advisor and view the status of those loans. The loans will have various status indicators throughout the loan data transfer process. Refer to the section titled Originator Pipeline for more information on the status indicators and tracking loans. To submit loans to an aggregator, you must: 1. Enter loan data. You may import loans from your loan origination system (LOS) or from Loan Product Advisor, or enter loans manually into Loan Selling Advisor. 2. Evaluate loans. Loans will be evaluated against the aggregator s terms of business. Loans that pass purchase edits will display as compliant. Loans that have critical edits will display as non-compliant. To clear critical edits and warning messages, you must modify loans and re-evaluate them prior to submitting them to the aggregator. Loans should be compliant before you submit them to the aggregator. 3. Submit loans to the aggregator. The aggregator has the option to accept or reject the submitted loans. Adding and Accessing Loans in Loan Selling Advisor Adding and saving loans to Loan Selling Advisor is the first step to submitting loans to an aggregator. You may import loans into Loan Selling Advisor from your loan origination system (LOS) or from Loan Product Advisor. You may also create loans within Loan Selling Advisor manually. Adding loan and saving loans in Loan Selling Advisor is the first step to submitting loans to an aggregator. Loans can be accessed in the Originator Pipeline after they are saved in Loan Selling Advisor. It is important to note that all loans not allocated to either Freddie Mac or an aggregator, but saved in Loan Selling Advisor, will display in both the Loan Pipeline and the Originator Pipeline. Therefore, it is important that you manage your pipelines and delete loans that you do not intend to sell and/or transfer. You will only access loans via the Loan Pipeline link if you plan to deliver the loans to Freddie Mac using your seller number. When you submit loans to an aggregator, they will no longer be accessible via the Loan Pipeline link. Also, when you allocate loans to a Freddie Mac contract, they will no longer be accessible via the Originator Pipeline link. If you choose to evaluate upon import, the loans will be evaluated against your company s terms of business and not the aggregator s. You must then re-evaluate the loans before you submit them to the aggregator. Therefore, we recommend evaluating loans after they are saved to the Originator Pipeline. You must deliver the aggregator assigned loan number (issued at time of loan lock and/or registration with the aggregator) in Loan Selling Advisor s Seller Loan Identifier field (Sort ID #402). 2 December 2017

4 Originator Pipeline For loans you plan to submit to your aggregator, you should access them in the Originator Pipeline. The Originator Pipeline stores the unallocated loans you saved in Loan Selling Advisor and contains the functionality you will use to manage and submit your TPTS loans to the aggregator. The Originator Pipeline contains the status tabs of Candidate & Rejected, Submitted, or Transferred and allows you to search for loans by entering specific search criteria in each of the status tabs. Once your selected loans display, you can perform any of the following functions: Evaluate Submit to an aggregator View evaluation issues View and/or Modify Delete Export Loans will display based on the status tab selected. The following table provides a definition for each status. Originator Pipeline Loan Status Status Candidate Rejected Submitted Transferred Definition Indicates the loans are new or non-transferable. These loans have not been submitted to an aggregator and are also visible in your regular loan pipeline. Indicates an aggregator has rejected the loans. Click the Rejected status to view reason for rejection. Indicates the loans have been submitted to an aggregator and are waiting to be accepted or rejected. Indicates loans are compliant and have been accepted by an aggregator. It also indicates non-compliant loans that have been transferred. When you click the Rejected status, a window will display the date, time and reason for rejection. When selecting a tab to view your loans, remember that only the loans in that specific status will display. The search criteria used to search for loans will change based on the status tab you select. 3 December 2017

5 The following table provides details of each of the actions available on the Originator Pipeline. Originator Pipeline Loan Actions Evaluate Action Send to Aggregator View Evaluation Issues View/modify Delete Export Send Description of Action Evaluates the selected loans against Freddie Mac s purchase edits and the selected aggregator s terms of business. If you evaluate loans from a location other than the Originator Pipeline, it is important to remember that the loans will be evaluated against Freddie Mac s purchase edits and your company s terms of business (not the aggregator s). Selected loans are evaluated and moved to the Submit Verification page to complete the submission to the aggregator or cancel the transaction. Displays evaluation issues for the selected loans you have evaluated. The most recent evaluation occurrence will display. The loans will be sorted by Seller Loan Identifier order. If there are no critical messages, nothing will display for that loan. Allows loans to be viewed or modified. You will be able to modify loans in the candidate and rejected status. You are not permitted to modify submitted or transferred loans. Deletes loans from Loan Selling Advisor. You can only delete candidate or rejected loans. Loans in any other status may not be deleted. Exports certain loan data using a dataset or a customized dataset based on your export criteria. Executes the Evaluate and Send to Aggregator action. Note, if the selected loans have been previously evaluated, this action will re-evaluate those selected loans and submit to the aggregator. Sort any column highlighted in blue font to sort the data in ascending or descending order. Evaluate Loans You must evaluate loans before you send them to your aggregator. The Originator Pipeline will function to evaluate your loans against the aggregator s terms of business. Evaluating your loans prior to sending them to the aggregator prevents you from submitting ineligible loans, reduces time spent on resolving loan data issues, and facilitates a more streamlined loan data transfer process. Perform the following procedure to evaluate your loans. 1. From the main menu, select Third Party, and then select Manage Originator Pipeline. The Originator Pipeline: Candidate & Rejected page displays. 4 December 2017

6 Step 2 Step 3 2. Enter your search criteria. 3. Click List Loans. The Originator Pipeline: Candidate & Rejected page lists the loans that meet your search criteria. Your search results will display. 5 December 2017

7 The links at the top of the columns can be used to sort your loan data. If a loan is rejected, go to the Loan Transaction Status column and click the Rejected link to view the date, time and reason for rejection. The R & W (Representation and Warranty) Relief link allows you to view Collateral Representation & Warranty Relief Summary Information for all loans displaying in the results. 4. Select the loans to evaluate. 5. Select the Evaluate radio button. 6. Select the aggregator from the drop down menu. 6 December 2017

8 Step 5 Step 6 Step 7 Step 4 7. Click Send. The Originator Pipeline: Candidate and Reject page re-displays indicating if loans cleared the aggregator s edits in the Aggregator Edits Cleared column. Y indicates the loan did clear critical edits. N indicates the loan did not clear critical edits. This column also shows the aggregator s name. You can view the loans that did not clear edits by selecting them and clicking View Evaluation Issues. 7 December 2017

9 View Evaluation Issues Evaluation issues are classified as either critical errors or warnings. Critical errors will prevent loans from being accepted by the aggregator and will display as non-compliant if submitted to the aggregator. Perform the following procedure to view evaluation issues. 1. From the Originator Pipeline Candidate & Rejected page, enter your search criteria. 2. Click List Loans. The page lists the loans that meet your search criteria. 3. Select the loans to view the evaluation issues. Step 4 Step 3 4. Click View Evaluation Issues. The View Aggregator Evaluation Issues page displays showing Critical Errors and Warnings for the selected loans. 8 December 2017

10 5. You may print the page by clicking Print Preview. The evaluation issues display in a separate window. Click File and Print in your browser menu to print the issues. 6. You may also export the file by clicking Export Evaluation Issues File. View/Modify Loans You can make changes to loans that did not pass evaluation edits or loans that need to be updated or modified. Perform the following procedure to view and/or modify loans in your originator pipeline. 1. From the Originator Pipeline Candidate & Rejected page, enter your search criteria. 2. Click List Loans. The page lists the loans that meet your search criteria. 3. Select the loans to view or modify. 9 December 2017

11 Step 3 If you only want to view or modify one loan, you may click the Seller Loan Identifier link for that loan and skip to step Click View/Modify. The Modify Loan page displays for the selected loans. The Modify Loan page displays with the first loan you selected. 10 December 2017

12 Step 7 Step 6 5. Make your changes (if any) to your loan information. 6. Click Finish to save your first loan and continue to the additional loans that need modifications. The next loan will display. Click Next Loan (No Save) if you have additional loans that need modifications, but you are not making any modification to the current loan. 7. Click Finished once complete and you will return to the Originator Pipeline: Candidate & Rejected page. Remember to click Evaluate to re-evaluate loans if you made any changes. Repeat steps 1-7 if critical errors remain. Submit Loans to an Aggregator Submitting loans to an aggregator is how you will transfer loans from your pipeline to the aggregator s pipeline so they can accept or reject your loans. Perform the following procedure to submit your loans to the aggregator. 1. From the Originator Pipeline Candidate & Rejected page, enter your search criteria. 2. Click List Loans. The page lists the loans that meet your search criteria. 3. Select the Send to Aggregator radio button. 4. Select the aggregator from the drop down menu. 5. Select the loans to send to the aggregator. 11 December 2017

13 6. Click Send. The Review Compliant and Non-Compliant Loans to be sent to Aggregator page displays. Step 8 Remember, non-compliant loans are loans that did not pass the aggregator s purchase edits. You should de-select non-compliant loans before clicking Submit. To clear the purchase edits, view critical messages, modify the loan, re-evaluate the loans and re-submit. If a loan that previously passed purchase edits displays as non-compliant, modifications have been made to prevent that loan from passing purchase edits. Loan Selling Advisor automatically runs purchase edits during the submission process when you click Send. Therefore, these loans will display as noncompliant. Correct the errors, then re-submit. There are various reasons why a loan is Non-Transferable. For example, you entered settlement details in error. If a loan is Non-Transferable, it will revert to Candidate status. Print this page if you have a Non- Transferable loan for your records because the reason will not display on any other page. 7. Select the compliant loans to send to the aggregator. Click Select All to select all loans in a section. 8. Click Submit. The Originator Pipeline Submit/Transfer Confirmation page displays. 12 December 2017

14 Step 9 9. Click <Back to Originator Pipeline to return to the pipeline. View Loans Submitted to an Aggregator Loans submitted to an aggregator are loans that are waiting to be accepted or rejected by the aggregator. Perform the following procedure to view loans submitted to the aggregator. 1. From the Originator Pipeline Candidate & Rejected page, click the Submitted tab at the top of the page. The Originator Pipeline: Submitted page displays. Step 1 Step 2 Step 3 2. Enter your search criteria. 3. Click List Loans. The loans that meet your search criteria display at the bottom of the page. You have the option to export the loan data by selecting the loans you wish to export and clicking the Export button. For more information on exporting, review the Export section in this reference guide. 13 December 2017

15 View Loans Transferred to an Aggregator Loans transferred to an aggregator are loans that have been accepted by the aggregator. Perform the following procedure to view loans that have been transferred to the aggregator. 1. From the Originator Pipeline - Candidate & Rejected page, click the Transferred tab. The Originator Pipeline: Transferred page displays. Step 1 Step 2 Step 3 2. Enter your search criteria. 3. Click List Loans. The Originator Pipeline: Transferred page lists the loans that meet your search criteria. Loans will remain on this page until they are removed from view. 14 December 2017

16 Step 4 4. To remove the loans from view, click Remove from View. Loans will remain in the transferred page until they are removed from view. Once a loan is removed from view, you will not be able to retrieve this data. You also have the option to export the loan data by selecting the loans you wish to export and clicking Export. For more information on exporting, review the Export section in this reference guide. Any non-compliant loans transferred in error would also display in the Transferred tab. Delete Loans Remember loans rejected by your aggregator will display under the Candidate & Rejected tab in the Originator Pipeline. You may only delete loans in the Candidate & Rejected loans status. Perform the following procedure to delete loans from your originator pipeline. 1. From the Originator Pipeline: Candidate & Rejected page, enter your search criteria. 2. Click List Loans. The Originator Pipeline: Candidate & Rejected page lists the loans that meet your search criteria. 15 December 2017

17 Step 1 Step 2 Step 4 Step 3 3. Select the loans to delete. 4. Click Delete. You will get a message stating Are you sure you want to delete the selected loan(s)? 5. Click OK to delete your selected loans. 16 December 2017

18 Export You can export loan data from Loan Selling Advisor. You may want to export loan data prior to deleting or purging loans from the originator pipeline. You can create custom reports using pre-set data sets. Certain restrictions may apply based on the loan state. Perform the following procedure to export loan data: 1. From the Originator Pipeline: Candidate & Rejected page, select the loan status tab of the loans you want to export. Step 1 Step 2 Step 3 Step 5 2. Enter your search criteria. 3. Click List Loans. The page lists the loans that meet your search criteria. 4. Select the loans to export. 5. Click Export. The Originator Pipeline: Export Data page displays. Step 6 Step 7 Step 8 17 December 2017

19 6. Select a Data Set to export from the Data Set drop down menu. 7. Select a File Format from the drop down menu. 8. Click Create Export File. The View Export Results page displays showing Pending in the Status column. Step 9 9. Click Refresh File Status until Completed shows in the Status column. 10. Click the File Name of the file to export in the File Name column. The Open/Save options window displays. 11. Click the button that represents your choice. Customized Data Sets Perform the following steps to create your own customized data set while on the Export Data page in Loan Selling Advisor. Customized data sets work in a similar manner as other data sets except that they are not available in the.xml format. 1. From the main menu, select Data Sets, and then select Export Delivery Data. The Export Delivery Data page displays. 2. Select one of the data sets from the Data Set drop down menu. Select the data set that contains the fields you need. This will be the basis for customizing your new data set. You must make a selection from the data set menu to activate the Customize, edit or preview data set link. 18 December 2017

20 3. Select a File Format from the drop down menu. 4. Select the Customize, edit, or preview data set link. The Export: Customize Data Set page displays. 5. Select the field(s) in the Current Fields box that you want to add to your new data set. To add more than one field at a time, press Ctrl on your keyboard while selecting data fields. Step 6 6. Click Add>. 7. Repeat this process to continue adding data fields. 8. Remove fields by clicking the field name in the New or modified data set box and click <Remove. 19 December 2017

21 9. Add fields from other data sets by selecting a different data set from the Current data set drop-down menu. 10. Continue adding fields as outlined in steps 3, 4, and Enter your new data set name in the Data Set Name: field. 12. Click Save as new. You can now begin working with the new data set. 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 other Pricing Identifier Terms Freddie Mac 20 December 2017