Certifying Mortgages for Freddie Mac. User Guide

Transcription

1 Certifying Mortgages for Freddie Mac User Guide December 2017

2 The Freddie Mac Single-Family Seller/Servicer (Guide) requires a Seller/Servicer selling Mortgages to Freddie Mac to forward the Notes, assignments and related documents to the Document Custodian for certification and safekeeping. This reference guide provides guidance on how to certify loans using Loan Selling Advisor SM. Loan Selling Advisor lets you to handle your document certification business with ease and convenience. Benefits include: Real-time certification Online discrepancy reconciliation Access anywhere you have a web connection Before You Begin Using Loan Selling Advisor Before you begin using Loan Selling Advisor, ensure you meet the minimum system recommendations and have access to Loan Selling Advisor. This section provides information on system recommendations, hours of operation, and accessing Loan Selling Advisor. System Recommendations It is best to view the Loan Advisor Suite in Internet Explorer 11. If using a lower browser version of Internet Explorer, you may notice some display and formatting differences. For viewing Management Reporting in full capability and flexibility, we recommend downloading the free web browser plug-in Microsoft Silverlight Version 4 or higher. Hours of Operation Click this link and navigate to the Loan Selling Advisor s hours of operation - Accessing Loan Selling Advisor Loan Selling Advisor is accessed via the Internet. To access, complete the following steps: December

3 Step / Action 1. Obtain User Names and Passwords Result / Notes Document Custodians must complete Form 901 [PDF] (Document Custodian Loan Selling Advisor Authorized User Identification and Certification Form) and fax to or to: pe_customer_setup@freddiemac.com. 1. The Loan Selling Advisor Password is ed to the Primary Contact/Administrator. 2. Your Individual Password and Personal Identification Number (PIN) are ed directly to you. We recommend you retain this information. You will need your PIN if you need to request a password reset. If this is the first time you are using your User Name and Password, you will be prompted to change your password and complete the User Profile page. For more information, go to FreddieMac.com and visit the Get Started Using Loan Selling Advisor web page. 2. In your Internet browser, enter into the address line. Then click Enter. Bookmark this address for future access The Loan Advisor Suite page displays: December Page 2

4 Step / Action Result / Notes 3. Enter the Username and Password from your Freddie Mac message. Then click LOG IN. After you click LOG IN, since you are using log in information for Loan Selling Advisor, you will automatically see the Loan Selling Advisor Welcome page You may change your individual password at any time. Launch the following demonstration for extra help: User Profile and Password Reset Passwords must be at least eight characters long and must include at least two alpha and one non-alpha character. To ensure the security of your data, we recommend you change your password regularly preferably every 90 days If you forget your username or password, follow the prompts from the links Forgot your username/password? at the bottom of the LOG IN window. 4. On the Loan Advisor Suite Welcome page, click Open across from Loan Selling Advisor. The Loan Advisor Suite Welcome page displays: December Page 3

5 Step / Action Result / Notes 5. Click View Guide to see link descriptions displaying on the Welcome page, then click Close. 6. Login: System Context page - Select the appropriate Unit Name and Seller/Servicer Number from the drop-down menus, and then click Continue. Based on your assigned user role(s), the Unit Name dropdown menu may or may not appear during your log in process. December Page 4

6 Step / Action Result / Notes 7. The Login: Terms & Conditions page will display. This page displays every time you log in. Review the Terms & Conditions and click I Agree to indicate you want to proceed. The Welcome to Loan Selling Advisor Home page displays Welcome to the Loan Selling Advisor Home Page The home page can always be accessed by selecting Loan Selling Advisor from the blue title bar. December Page 5

7 The table below outlines the functions and features available in Loan Selling Advisor: Feature 1 Loan Advisor Suite Menu Description Links to the Loan Advisor Suite home page. Menu links to the Loan Advisor Suite of tools 2 User Information Provides access to resources and support: 1. Displays the User ID you used to log into Loan Selling Advisor. When you click your User ID, a drop-down menu displays with My Preferences information and the ability to log out. Contact Us displays the number customers may use to obtain live support, business support and application availability hours. 2. Help provides access to the Loan Advisor Suite online help system. 3. User Context: When you click, your User ID a panel displays your organization information. If you operate under multiple Seller/Servicer numbers, you have the ability to log in using a different seller number or branch (if applicable) without completely logging out of the system. December Page 6

8 Feature 4 3 Online Help Description Online Help provides access to process overviews and procedures Learn more about Online help later in this chapter. Main Menu Provides access to the main functions available to your user role. Scroll over a menu topic to access the panel of functions. Click Loan Selling Advisor to return to the home page. 5 6 News and Resources Customer Service Provides information about upcoming or current system availability. It is important to review these messages as they may indicate planned down time for technical enhancements, or may reference potential data delays if processing jobs are running longer than expected. Provides links to additional resources. This page will provide updates regarding Loan Selling Advisor. It is updated regularly, so check it often. Displays customer-service contact information. Establishing User Roles User roles determine a designated user s authority within an organization to access various screens and perform selected functions within Loan Selling Advisor. Loan Selling Advisor has defined two user roles for the Document Custodian. To obtain access to Loan Selling Advisor, or to certify or uncertify loans, complete Form 901: Authorized User Identification and Certification Form. Sellers may assign multiple user roles to a single individual. For additional information, refer to Guide Section Once you receive your user ID and password, test them immediately to ensure that you have the appropriate access for your user role(s). Use the following table to help you determine which role(s) you need. User Roles If you need to Certify notes/loans, propose changes and batch certify Uncertify a notes/loans Your user role is Document Custodian External Certification Manager Navigation and Main Menu You ll navigate Loan Selling Advisor using the main menu. The main menu is visible at the top of each Loan Selling Advisor page and gives you access to the functions you ll use; There are three menu sections: Certification, Settlements and Data Sets. Hover your mouse over each section to view the functions for that topic. December Page 7

9 The example below shows the functions available under the Certification menu. The following table describes the functions available from the main menu. Menu Name Menu Name Function Name. Use to. Certification Certify Individuals Loans Certify one loan at a time. Review Certification Issues View Certified Loans Uncertify Loans Search for Loans Record Note Received Date Import Certified Loans Certify Loans in Batch View Certification Pipeline View Import Results Review certification issues for individual loans. View loans you already certified. Uncertify a loan. Must have user role of External Certification Manager. Search for loans that have not been certified Enter the date the Notes were received by the Document Custodian. Import loans already certified in the Document Custodian s data management system. Certify a batch of loans. View and access your certification pipeline at a loan-level, contract-level or seller-level. Access multiple functions from a single page: Review and Certify Loans Batch Certify Review Issues Export Select Results View Certified Loans View History View the results of xml files imported including summary information on the number of files imported, files with errors and files updated. Settlements View Certification Forms Let s you view or print the following Select Summary Schedule to access the Custodial Certification/Note Delivery Cover Sheet. Select Detailed Schedule to access Form 1034E, Custodial Certification Schedule. December Page 8

10 Menu Name Menu Name Function Name. Use to. Data Sets Export Certification Data Export data using preset data sets. View Export Results Export Batch Loans Customize, edit or preview a data set in comma delimited or excel formats. Preview the data set specification for Appendix - Custodian Fields MISMO 3.0 Export Layout in comma delimited or excel format. View Export Results. View the results for the files exported including the total number of files exported and choose a location to save the files. Export a batch of loans based on specific criteria you choose. From here you can mark or unmark loans as exported. For more information on custodial requirements refer to Freddie Mac s Single-Family Seller/Servicer Guide and to the Document Custody Procedures Handbook which can be found at December Page 9

11 Overview of Certification Certification is the process of comparing specific data in Loan Selling Advisor against the physical mortgage note for discrepancies and to verify that the information on the note and supplemental documents meet Freddie Mac s certification requirements. The process includes reviewing the accuracy of signatures and assignment and endorsement chains. Document Custodians are responsible for verifying certain information contained in the notes and related documents for the mortgages sold to Freddie Mac and for certifying that they have performed those verifications and that the original documents are in their possession. We refer to this process as certification or certifying the notes. To prepare the loans for certification, the seller builds Form 1034E, otherwise known as the Custodial Certification Schedule Detailed, in Loan Selling Advisor. Once the 1034E is built, the certifiable fields on the loan cannot be edited or changed by the seller, allowing you to certify loans with the assurance that the Form 1034E data will not change during the certification process. Certifying Mortgages in Loan Selling Advisor Freddie Mac s Loan Selling Advisor provides three methods to certify mortgage notes: Certify Individual Loans The first method is to review and certify individual loans. When you select this method, you compare the physical note to the note data in Loan Selling Advisor to ensure they match. You also review the supporting documentation. If the data and the documentation are compliant, you certify the loan. If the data and/or the documentation are not compliant, you indicate proposed changes and/or the documentation discrepancies. Certify Loans in Batch The second method is to certify loans in batch. When you select this method, you identify the loans to be certified and then print a Form 1034E. You compare the note data to the Form 1034E report and review the documentation. For each loan with discrepancies, you must use the Certifying Individual Loans method (shown above), to enter proposed changes or documentation discrepancies. For loans that are compliant, you will update the status to Certified. Import Certified Loans If you have your own data management system for certifying loans, the third method is to certify loans in your certification system and import the loan status into Loan Selling Advisor. Your decision on whether to certify the loans or indicate proposed changes and/or documentation discrepancies is available to the Seller immediately. Once the notes are certified, the Seller can complete the sale of the Mortgages to Freddie Mac. If the notes are not certified due to data or documentation discrepancies, the Document Custodian must indicate the discrepancies in Loan Selling Advisor. The Seller simultaneously receives an notifying them to access Loan Selling Advisor and verify the proposed changes. The Seller has the option of accepting or rejecting the proposed changes. If the Seller: Accepts all the proposed data changes and there are no document discrepancies outstanding, the note is automatically certified. You are not required to perform any further action. Rejects the proposed data changes or documentation discrepancies are outstanding; the Seller must resolve the issues and provide you with the proper documentation. Upon receipt of the necessary documentation that resolved the discrepancy, you must update the certification status to Certified. December Page 10

12 Certification Status Type Loan Selling Advisor provides several certification statuses, called the Certified Status Type. The status is updated automatically each time you certify or propose changes to a loan, and is available on several Loan Selling Advisor pages including: Loan Certification: Results Confirmation Search for Loan: Results Certification Pipeline: Loan Level Certification: Search Results Example Certification Status Type: The chart below provides a definition for each type of Certified Status Type. Certified Status Type New Issue Outstanding Certification Released Certified Definition Indicates the mortgage note is not certified Indicates that data and/or documentation issues have been identified for the mortgage note. Indicates the mortgage note is certified. Indicates that the Seller has accepted the proposed data change and the note is certified. Accessing Form 1034E - View and Print Certification Forms The Seller may send this form with the mortgage notes, otherwise, you need to access and print the form from Loan Selling Advisor using the View Certification Forms function. You may work with the Seller to determine the best method to access the form Follow the procedures below to view and print certification forms. 1. From the Settlements menu select View Certification Forms. The View Certifications Forms: Search page displays. December Page 11

13 2. First Select the type of search you want to perform by clicking the button for Certification Batch Identifier and enter the Batch ID number or click the checkbox to select Allocated Loans or Unallocated Loans. Next, complete one or more search fields, as applicable, to narrow down your results. The search type defaults to the Certification Batch Identifier. It is assigned when the Seller assigns loans to Form 1034E or the corresponding Note Cover Sheet. If you Select the default search type of Certification Batch Identifier Allocated Loans or Unallocated Loans Then you can View Form 1034E across multiple contracts, all having the same Certification Batch Identifier number. You cannot select other search criteria fields to narrow down the search results. Select multiple search criteria fields to narrow down the search results. December Page 12

14 3. Click Search. The View Certification Forms: Results page displays with the loans matching the search criteria entered. Click the blue column headings to sort your results by acending or descending. The default sort is by Freddie Mac Loan Number. Use the horizontal scroll bar to view all columns. 4. Select the loans to print on the Form 1034E by clicking the button next to the certification batch identifier. The certification batch identifier for all of the selected loans must be the same and will display on the Form 1034E. 5. Click View Detailed Schedule. The Form 1034E displays in a separate window and contains a Certification Due Date if the Seller entered one. The Seller s contact information (preparer s name and telephone number) appears at the bottom of the form. 6. Click Print to print the Form 1034E. You can also print the Note Delivery Cover Sheet by selecting View Summary Schedule. December Page 13

15 Example of Certification Form - Note Delivery Cover Sheet/Custodial Certification Schedule: Example of Certification Form - Custodial Certification Schedule Detailed (Form 1034E): December Page 14

16 If a search results in more than 20 loans, Form 1034ES Custodial Certification Schedule Summary will display with two options at the bottom of the page: PDF 1034E Loan Details: View or print the loan detail with all the certificable fields. Export 1034E Loan Details: Links you to the View Export Results page and lets you export data. Certify Individual Loans You must compare the mortgage note information to data in Loan Selling Advisor and data on the Form 1034E to ensure they match. You must also verify that the supporting documentation complies with the documentation requirements in Freddie Mac s Single-Family Seller/Servicer Guide and the Document Custody Procedures Handbook (FreddieMac.com/cim/handbook.html). This section describes the process to certify or to propose changes for individual loans. Follow the procedures below to certify individual loans. 1. From the Certification menu, click Certify Individual Loans. The Certification: Search page displays. 2. Before you enter search criteria, you must first choose a search selection type by clicking the button for the default field of Certification Batch Identifier, and you will enter the Certification Batch ID number or you will select the checkbox for Allocated Loans or Unallocated Loans. Next, you will complete one or more search fields, as applicable, to narrow down your results. December Page 15

17 The Certification Batch Identifier is assigned when the Seller assigns loans to Form 1034E or the corresponding Note Cover Sheet. If you Select the Certification Batch Identifier Allocated Loans or Unallocated Loans Then you can View the Form 1034E across multiple contracts with the same Certification Batch Identifier. You will not be able to select or enter any search criteria fields. Enter search criteria fields to narrow down the search results. Commonly used search fields include the Seller Identifier, Pool #, Note Rate Percent and Loan Referenced Product Label. 3. Click Search. The Certification: Search Results page displays with the loans matching the search criteria entered. 4. Click the box next to each loan you want to review and certify. December Page 16

18 You may choose individual or multiple loans to certify by using the Select Page or Select All Loans options located at the top of the page. This queues the loans so that you can efficiently move between loans. 5. Click Review Loan(s) to display the loans one at a time. The Certification: Loan page displays the loans in sequential order based on the Freddie Mac Loan Number. December Page 17

19 6. Review the Custodian Note Received Date to ensure it is accurate. This date must reflect the date the documents are received by the document custodian. Loan Selling Advisor defaults to the current date when the page initially displays. To change this date, enter the correct date. You can View and Certify up to five borrowers on each mortgage loan. 7. You are now ready to begin the loan data and documentation review: The loan data review involves comparing data in Loan Selling Advisor or the data on the 1034E to the data on the mortgage note. The documentation review involves analyzing the original mortgage note for errors such as signature problems or missing addendums, etc. If There are no discrepancies in either the loan data or documentation, There are discrepancies, Then Click Certify Loan. If there s more than one loan to certify, navigate to the next loan. Click Skip to Next Loan are not ready to process the current loan and want to go to the next loan. Click Enter Discrepancy and follow the instructions below on Enter Proposed Data Change and/or Document Discrepancy. 8. Once you have certified or entered proposed data or document discrepancies for all loans you selected, the Loan Certification: Results Confirmation page displays with status information for each loan processed. You can select Certify Remaining Loans in Batch to batch certify the rest of the loans that displayed in your search results. See Certify Loans in Batch. Enter Proposed Data Change and/or Document Discrepancy Proposed data changes and documentation discrepancies are entered at a loan-level, one loan at a time. You will enter discrepancies after you have completed steps 1 7 above. The procedure below outlines the steps on how to enter a data discrepancy, followed by the steps to enter a document discrepancy: 1. From the Selling Certification: Loan page click Enter Discrepancy to indicate that the loan data and/or documentation have discrepancies. 2. The Certify Loan: Report Discrepancy page displays with two tabs which are titled Loan Data and Documents. Loan Selling Advisor defaults to the Loan Data tab. December Page 18

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21 3. For a data discrepancy, enter the proposed correction(s) in the Proposed Changes column. If you do not have any document discrepancies, skip to step #6 below. Type in the complete contents of the field. For example, if the street address is incorrect (123 North Main Street), you must type in the entire corrected address (123 South Main Street) since the data submitted overwrites the existing data. The same applies to entering dates. Some fields have a N/A next to it. Clicking on a N/A box proposes a blank. This is used, for example, when there s a non-individual borrower or entity. In this case, the entity name is entered in the Primary Non-Individual Borrow Name field, and the Primary Borrower First Name, Primary Borrower Middle Name and Primary Borrower Last Name fields are left blank with the N/A boxes selected. 4. For a document discrepancy, click the Documents tab to view a list of discrepancies. Documentation issues prevent you from certifying the documentation elements of the note until they are remedied by the Seller. These might include such things as: Signature or endorsement issues Copies of notes Missing modification documents, addendums or powers of attorney December Page 20

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23 5. Indicate the type of document discrepancy by clicking the checkbox(s) next to the document discrepancy name. If the document discrepancy does not display in the list, check the Other box and describe the discrepancy type in the comments text box. 6. Click Submit All Data and Documentation Issues to report the proposed data changes and documentation issues to the Seller. If you selected more than one loan to process, the next loan displays. Once you have completed entering discrepancies for all loans you selected, the Certification: Results Confirmation page displays with status information for each loan processed. Certify Loans in Batch You can select Certify Remaining Loans in Batch to batch certify the remainder of the loans that displayed in your search results. See Certify Loans in Batch. You cannot return to the Loan Certification: Results Confirmation page once you leave it, however, you can print the page. This section describes the process for certifying a group of loans. To Certify Loans in Batch, you must compare the mortgage notes to the data on Form 1034E, Custodial Certification Schedule Detailed and ensure they match. You must also verify that the supporting documentation complies with the documentation requirements found in Freddie Mac s Single-Family Seller/Servicer Guide and the Document Custody Procedures Handbook (FreddieMac.com/cim/handbook.html). The Seller may send the Form 1034E with the mortgage notes; otherwise, you need to access and print the form from Loan Selling Advisor using the View and Print Certification Forms function. You will certify the loans (one or many) after filtering out all loans with loan data and/or documentation discrepancies. Freddie Mac recommends you enter data and document discrepancies before batch certifying. This ensures you do not certify a loan in error. You will enter discrepancies by following the procedure to Certify Individual Loans. To certify the loans in batch, access Form 1034, record the note received date and complete the batch certification process (Do not select any loan with a discrepancy). All loans that are selected in the search results are automatically certified after Batch Certify is selected. Follow the procedures below to certify loans in batch. 1. From the Certification menu, select Certify Loans in Batch. The Batch Certification: Search page displays. December Page 22

24 2. First Select the type of search you want to perform by clicking the button for Certification Batch Identifier and enter the Batch ID number or click the checkbox to select Allocated Loans or Unallocated Loans. Next, complete one or more search fields, as applicable, to narrow down your results. The search type defaults to the Certification Batch Identifier. It is assigned when the Seller assigns loans to Form 1034E or the corresponding Note Cover Sheet. If you Select the default search type of Certification Batch Identifier Allocated Loans or Unallocated Loans Then you can View Form 1034E across multiple contracts, all having the same Certification Batch Identifier number. You cannot select other search criteria fields to narrow down the search results Select multiple search criteria fields to narrow down the search results. 3. Click Search. The Batch Certification: Search Results page displays with loans that match the search criteria you entered. 4. Click the check box next to each loan to indicate the loans you want to batch certify. December Page 23

25 To select multiple loans at a time for batch certification, use the Select Page or Select All Loans options at the bottom of the page. 5. Click Batch Certify. The Certification: Results Confirmation page displays. All loans checked are automatically certified. December Page 24

26 Import Certified Loans If you have your own data management system for certifying loans, you can import loans back to Loan Selling Advisor. With this option, you can import certified loans and loans with data or documentation issues. You ll import to certify by sending: A complete file of certifiable data, or A current import dataset format You can also import and send the loan identifier and: Certification status of Certified, or The fields causing the data discrepancies and the certification status of Issues Outstanding Importing issues outstanding, including the certification status and the error, translates into a proposed data change that is sent back to the Seller on the Review Certification Issues page. Follow the procedure below to import certified loans. 1. From the Certification menu select Import Certified Loans. The Import Certified Loans page displays. 2. Complete the File: field using the Browse button to locate your file. 3. Select a Loan Identifier either Freddie Mac Loan Number or Seller Identifier/Seller Loan Identifier. 4. Click Import Loans. The Import Loan Results page displays showing the status of your import. Some of the information provided includes: Total Loans total number of loans in the import file. Processed number of loans processed from the total number of loans in the file. Updated number of loans that are updated from the loans processed. Failed number of loans failed from the processed loans. December Page 25

27 Status provides the status of the import (In Progress, Completed, or Error). See table below for a description of each status: Status In progress Completed Error Description The XML is in the process of importing to Loan Selling Advisor. The XML import process is complete. The XML file did not import. Check your file formatting and correct the error(s) before reimporting. Large import files may take some time to process. An alternative to clicking Refresh Screen is to perform other tasks while awaiting import. To access the results, go to the Contracts menu and select View Import Results. 5. Initially you ll see a status of In Progress. Click Refresh Screen to update the import status. When the status shows Completed review the import results information. Refer to the table below. Column Name Update Failed Click the numeric value hyperlink to. Access the Import Certified Loan: Updated page for a list of loans that were updated. Access the Import Certified Loan: Errors page for a listing of loan errors. The import history will display for seven calendar days from the date of import. Managing Loans within the Certification Process Loan Selling Advisor offers many functions to help you complete tasks and manage loans within the certification process. They include: Search for Loans Record Note Date Received Review Certification Issues View Certified Loans View Certification Pipeline Uncertify Loans The sections below provide step-by-step instructions for each of the functions named above. December Page 26

28 Search for Loans Use this option to view a loan or group of loans and their certification status. Only loans that are assigned to you for certification display in the search results. Follow the procedure below to search for loans. 1. From the Certification menu select Search for Loans. The Selling: Search for Loans page displays. 2. Before you enter search criteria, you must first choose a search selection type by clicking the button for the default field of Certification Batch Identifier, and you will enter the Certification Batch ID number or you will select the checkbox for Allocated Loans or Unallocated Loans. Next, you will complete one or more search fields, as applicable, to narrow down your results. The Certification Batch Identifier is assigned when the Seller assigns loans to Form 1034E or the corresponding Note Cover Sheet. December Page 27

29 If you Select the Certification Batch Identifier Allocated Loans or Unallocated Loans Then you can View the Form 1034E across multiple contracts with the same Certification Batch Identifier. You will not be able to select or enter any search criteria fields. Enter search criteria fields to narrow down the search results. Commonly used search fields include the Seller Identifier, Pool #, Note Rate Percent and Loan Referenced Product Label. 3. Click Search. The Search for Loan: Results page displays with the loans matching the search criteria selected. Click the blue column heading links to sort your results based on that heading. The default sort is by Freddie Mac Loan Number. 4. To obtain more information on a particular loan, click the Certified Status Type link. This takes you to a page with additional details on that loan. Three different certification statuses may display: New, Issue Outstanding, and Certified. If the loan status is New or Issue Outstanding, you have the option to certify the loan or propose data and/or documentation corrections. If the loan status is Certified and the details show a symbol to the left of the page, it indicates that the Seller accepted your proposed data changes and the loan was automatically certified. December Page 28

30 Record Note Received Date The note received date in Loan Selling Advisor defaults to the date Form 1034E was generated. When there is a date lag in Loan Selling Advisor versus the date you received the physical note, you can edit in Loan Selling Advisor to match the date you received the Note. Follow the steps below to enter the Record Note Received Date: 1. From the Certification menu, select Record Note Received Date. The Record Note Received Date: Search screen displays. 2. Before you enter search criteria, you must first choose a search selection type by clicking the button for the default field of Certification Batch Identifier, and you will enter the Certification Batch ID number or you will select the checkbox for Allocated Loans or Unallocated Loans. Next, you will complete one or more search fields, as applicable, to narrow down your results. December Page 29

31 The Certification Batch Identifier is assigned when the Seller assigns loans to Form 1034E or the corresponding Note Cover Sheet. If you Select the Certification Batch Identifier Allocated Loans or Unallocated Loans Then you can View the Form 1034E across multiple contracts with the same Certification Batch Identifier. You will not be able to select or enter any search criteria fields. Enter search criteria fields to narrow down the search results. Commonly used search fields include the Seller Identifier, Pool #, Note Rate Percent and Loan Referenced Product Label. 3. Click Search. The Certification: Enter Date Note Received page displays with the loans matching the search criteria entered. 4. The Custodian Date Note Received auto-populates with the current date. You may change the date by clicking the calendar icon and selecting a date, or by entering the date in mm/dd/yyyy format. 5. Click the box next to each loan you want applied to that date. Click the blue column heading links to sort your results based on that heading. The default sort is by Freddie Mac Loan Number. To apply the date to multiple loans at a time, click Select Page or Select All Loans. December Page 30

32 6. Click Submit Dates. The Certification: Confirm Date Note Received page displays with the updated note receipt date. Review Certification Issues As the Custodian, you are responsible to know if an action has been performed on outstanding issues. You should work out a process with your Seller to notify you when they have reviewed the issues so you can complete certification. The following section describes the process for accessing and reviewing certification issues after you have submitted them for proposed changes or resolution of document discrepancies to the Seller. Use the Review Certification Issues function to perform the following: Remove the document discrepancies indicator once the discrepancies have been corrected. Submit revised proposed data changes if the Seller rejects your proposed loan data changes and provides the appropriate documentation. Follow the procedures below to access and review remaining certification issues. 1. From the Certification menu, select Review Certification Issues. The Certification: Review Certification Issue Pipeline page displays with all the loans that still have certification issues. 2. Click the box next to each loan to indicate which loans you want to review with outstanding certification issues. December Page 31

33 The following symbol may display in the Seller Rejected Changes field: Seller Rejected Changes Symbol Description Indicates means the Seller has rejected any changes from Freddie Mac. 3. Click Review Loan(s). The Certify Loan: Review Certification Issue page displays with the first loan selected. Loan Selling Advisor defaults to the Loan Data tab. December Page 32

34 4. Depending on revisions needed to be made, select the following: If You need to revise or resubmit a loan data discrepancy previously submitted to the Seller, You need to remove a document discrepancy indicator after the Seller corrects the discrepancy. Then Select the Loan Data tab and make your changes in the Proposed Changes column. Select the Documents tab and deselect the issue by clicking the appropriate box. December Page 33

35 5. Click Submit Updates once you have entered the revised loan data change and/or removed the document discrepancy indicator. The Certification: Results Confirmation page displays. View Certified Loans The Seller must accept any revised loan data you resubmit before the loan is certified. If an issue is not resolved, the loan is still outstanding and needs to be addressed with the Seller. If the Seller indicates that the original data and/or documents were correct and your changes now reflect this, the loan is automatically certified as long as there are no further issues. Use the View Certified Loans functionality to view all loans successfully certified in the last 120 days. Follow the procedure below to view certified loans. 1. From the Certification menu select View Certified Loans. The Certification: Search page displays. 2. Before you enter search criteria, you must first choose a search selection type by clicking the button for the default field of Certification Batch Identifier, and you will enter the Certification Batch ID number or you will select the checkbox for Allocated Loans or Unallocated Loans. Next, you will complete one or more search fields, as applicable, to narrow down your results. December Page 34

36 The Certification Batch Identifier is assigned when the Seller assigns loans to Form 1034E or the corresponding Note Cover Sheet. If you Select the Certification Batch Identifier Then you can View the Form 1034E across multiple contracts with the same Certification Batch Identifier. You will not be able to select or enter any search criteria fields. Allocated Loans or Unallocated Loans Enter search criteria fields to narrow down the search results. Commonly used search fields include the Seller Identifier, Pool #, Note Rate Percent and Loan Referenced Product Label. 3. Click Search. The Certification: Search Results page displays, listing all loans certified in the last 120 days. You may sort the list by clicking on the header links. December Page 35

37 View Certification Pipeline When a symbol displays on the left of the page next to Seller Identifier / Servicer Identifier, it indicates that the Seller accepted your proposed data changes and the loan was automatically certified. Certification Pipeline lets you manage your pipeline by displaying contracts and loans assigned to you. You can perform many functions for loans in the pipeline once the contracts and/or loans display, such as: Review and Certify Loans Batch Certify Review Issues Export Selected Results View Certified Loans View History Custodians can certify loans allocated to a contract as well as unallocated loans. The Certification Due Date field lets the Seller indicate when a loan should be certified. Custodians can search and sort by the Certification Due Date to manage their daily workflow. The Certification Pipeline can be searched using many filters; at the loan level, contract level, pool level, by loan corrections, etc. View history lets you see when loans were added or removed from Form 1034E. In addition, you can see when loans were allocated or de-allocated from the contract through the additional fields on the Loan Level search tab. Follow the procedures below to view and manage your certification pipeline. 1. From the Certification menu, select View Certification Pipeline. The Certification Pipeline: Loan Level page displays with a default view of the Loan Level section. December Page 36

38 2. Select the type of search you want to complete: Loan Level or Contract Level. 3. Enter your search criteria in the applicable section. The certification Due Date will be auto-populated with the current date. Click the calendar icon if you want to change the date. If searching from the Loan Level section, select the Additional Fields link to access more search options to narrow down your search. A search can only be completed from the Loan Corrections tab if there are loans with outstanding corrections (or corrections status of Validation Requested, Validated or Declined ). December Page 37

39 4. Click Search. The Certification Pipeline: Loan Level page re-displays showing loans that meet your search criteria at the bottom of the page. 5. To perform a specific action on a loan, contract, group of loans, or group of contracts: Click the box next to the applicable loan(s) or contract(s). You may also choose the Select All option. Select the function you wish to perform on the selected loan(s) or contract(s) by clicking the appropriate button: o o o o o Review and Certify Loans: Provides the same functionality as Certify Individual Loans from the Certification menu. Batch Certify: Provides the same functionality as Certify Loans in Batch from the Certification menu. Review Issues: Provides the same functionality as Review Certification Issues from the Certification menu. Export Selected Results: Provides functionality to export selected information on the loan into an Excel spreadsheet. View Certified Loans: Provides the same functionality as View Certified Loans from the Certification menu. December Page 38

40 o View History: The loan history begins when the 1034E is built in Loan Selling Advisor and loans are added to it. This functionality provides you with a detailed loan history audit trail. To view a history, click the View History. A new window displays showing the loans selected and a history of: When the loans were allocated to (of de-allocated from) the contract. When the loans were added or removed from the Form 1034E. Uncertify Loans Freddie Mac lets custodians to uncertify loans previously certified. This functionality may or may not be available to you depending on your access privileges. Uncertifying loans may be useful if you certified a loan in error or if a Seller assigned a Mortgage Note to you for certification and the Seller wants to move it to another custodian for certification. Follow the procedure below to uncertify loans. 1. From the Certification menu select Uncertify Loans. The Uncertify Loan: Search page displays. 2. Before you enter search criteria, you must first choose a search selection type by clicking the button for the default field of Certification Batch Identifier, and you will enter the Certification Batch ID number or you will select the checkbox for Allocated Loans or Unallocated Loans. Next, you will complete one or more search fields, as applicable, to narrow down your results. December Page 39

41 The Certification Batch Identifier is assigned when the Seller assigns loans to Form 1034E or the corresponding Note Cover Sheet. If you Select the Certification Batch Identifier Then you can View the Form 1034E across multiple contracts with the same Certification Batch Identifier. You will not be able to select or enter any search criteria fields. Allocated Loans or Unallocated Loans Enter search criteria fields to narrow down the search results. Commonly used search fields include the Seller Identifier, Pool #, Note Rate Percent and Loan Referenced Product Label. 3. Click Search. The Certification: Search Results page displays with the loans matching the search criteria selected. 4. Select the loan(s) to uncertify by clicking the box next to the loan(s). When a symbol displays on the left of the page next to Investor Contract Identifier, it indicates that the Seller accepted your proposed data changes and the loan was certified. Click the blue column heading links to sort your results based on that heading. The default sort is by Freddie Mac Loan Number To uncertify multiple loans at once, use the Select Page or Select All Loans options at the top of the page. 5. Click Uncertify Loans. The Certification: Results Confirmation page displays showing the loans that have been uncertified. December Page 40

42 6. Click on the Print Preview button link to print the list of uncertified loans. Data Sets Loan Selling Advisor provides the ability to export certification data. The Data Sets menu contains the functions for export which include Export Certification Data, View Export Results and Export Batch Loans. The procedures below provide instruction on how to use each of these functions. Export Data The Export Certification Data option lets you export preset data sets or create customized datasets for export. Use the search filters (by selecting between one and six search criteria fields) to narrow down the search results. You can export as many as 60,000 loans in a single export file. If you are exporting a large number of loans, Freddie Mac recommends using the Export Batch Loans function. See the instructions in this section titled Export Batch Loans. Follow the procedures below to export certification data. 1. From the Data Sets menu select Export Certification Data. The Export Data page displays. 2. Make the desired selection from the Data Set drop-down menu. 3. Select a file format from the File Format: drop down menu, Comma Delimited, Excel, or XML. Data sets with a file format of Comma Delimited or Excel. For additional information on how to customize, edit or preview a data set, see Create a Customized Data Set. 4. You can narrow down the export search results by selecting from a number of search criteria fields. Complete at least two of the fields and up to a maximum of eight. For certain fields, the following parameters apply: Servicer Identifier or Seller Identifier - up to ten numbers may be entered. Investor Contract Identifier or Pool # - up to five numbers may be entered, comma separated. For example, xxxxxxxxx,xxxxxxxxx,xxxxxxxxx,xxxxxxxxx,xxxxxxxxx Investor Contract Identifier ranges up to two contract number ranges may be entered, comma separated ranges with hyphen separating the start and end of the range. For example, xxxxxxxxxxxx,xxxxxx-xxxxxx December Page 41

43 6. Click Create Export File. The Export Data window displays. If you are attempting to export a large number of loans or loan data, a prompt displays to build the file in the background instead. 7. Click the Build File in Background to continue if you receive this prompt. To view your results, follow the procedures in View Your Results. December Page 42

44 Create A Customized Data Set You can customize a data set when the Comma Delimited or Excel file formats are selected, from the Export Data page. Through the Customize, edit, or preview data set function you can build your own data set and save for re-use. You can also print and preview any data set available. Follow the procedure below to create a customized data set. 1. From the Data Sets, menu select Export Certification Data. The Export Data page displays. 2. Make the desired selection from the Data Set drop down. 3. Select either Comma Delimited or Excel for the File Format 4. Click Customize, Edit, or Preview Data Set. The Export: Customize Data Set page displays. To add fields from another data set or modify an existing data set, select an existing data set from the Current data set drop down menu. 5. Click the field in the Current Fields box to add to the new data set. To add more than one field at a time, press Ctrl on your keyboard while selecting data fields. 6. Click Add >. The selected field from the current data set is placed into the New or Modified Data Set. December Page 43

45 7. Repeat this process to continue adding data fields. 8. Remove fields by clicking the field name to remove in the New or modified data set box and click <Remove. 9. If this is a new data set, enter the new data set name in the Data Set Name: field. 10. As applicable, click either Save Modifications (saves modifications to the current data set listed), or Save as New. Your customized data set is now available for use under the Data Set drop down menu. Preview and Print a Data Set Follow the procedure below to preview and print a data set. 1. From the Export Data page, click the Customize, edit, or preview data set link. The Export: Customize Data Set page displays. December Page 44

46 2. The Current Fields box lists the fields contained in the data set. Use the scroll bar to view the fields. 3. Click Print Preview to print the data set. The Data Set Name: page displays. 4. Click the Printer icon on the browser toolbar to print the data set. 5. Click Close to exit out of the window. Export Batch Loans The Export Batch Loans option lets you export certification data for up to 60,000 loan records at a time. Use the search criteria fields to select loans from multiple Sellers, Servicers, contracts and pools to include in the export file. You can also mark loans being added to the export file as previously exported or exclude previously exported loan records from subsequent searches. Follow the procedure below to export a batch of loans. 1. From the Data Sets menu, select Export Batch Loans. The Export Data page displays. 2. Enter the search criteria data you want to export. Complete a minimum of one search criteria field and a up to a maximum of six fields. For certain fields, the following parameters apply: Servicer Identifier or Seller Identifier - up to ten numbers may be entered. Investor Contract Identifier or Pool # - up to five numbers may be entered, comma separated. For example, xxxxxxxxx,xxxxxxxxx,xxxxxxxxx,xxxxxxxxx,xxxxxxxxx Investor Contract Identifier ranges - up to two contract number ranges may be entered, comma separated ranges with hyphen separating the start and end of the range. For example, xxxxxx-xxxxxx,xxxxxx-xxxxxx 3. Click either Create Export Batch File without Marking Loans or Create Export Batch File & Mark Loans as Exported. If there are more than 500 records, a message displays indicating the request could take some time and the file builds in the background. December Page 45

47 4. A message displays indicating if the data format you selected does not match the data format used by Loan Selling Advisor, Loan Selling Advisor will attempt to translate the data into the requested you selected. Data Loan Selling Advisor is unable to translate will not be exported to the Seller s information system. Select Accept to proceed. View Your Results Follow the procedure below to access and view your completed Export Files. 1. From the Data Sets menu select View Export Results. The Export Data page displays. 2. Files are displayed on this page for seven days. 3. Click Refresh File Status if your file status is processing. December Page 46

48 4. Click the File Name link of your desired file. A new window displays asking if you want to Open or Save the Excel file. 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 December Page 47