Freddie Mac to Begin Supporting
Trended Data Next Week
Ensure Your Bureau Codes Can Request Trended Data
Starting Monday, June 24, 2024, Loan Product Advisor® (LPASM) and Loan Quality Advisor® will begin to optionally accept trended data on new and reissue requests. SharperLending is prepared for this change!
Optionally accepting trended data means that those Freddie Mac systems will be able to process both trended and non-trended requests for your clients. LPA and Loan Quality Advisor will accept both trended and non-trended requests until August 4, 2024.
On August 4, 2024, Freddie Mac will require trended data for all new LPA and Loan Quality Advisor submissions.
As a CRA, what can you do to help prepare your company for this?
It’s simple! Make sure that any bureau access code used to order a credit product that will be submitted to LPA or Loan Quality Advisor is set up to pull trended data.
We know that most of your subscriber codes are already set up and you have been providing trended data to your customers for years. However, if you have mortgage codes in use that are not currently providing trended data today, now is the time to make sure those subscriber codes are properly enabled at EFX, TU and XPN.
You can do this by double checking and verifying your subscriber codes in XOP. Then, communicate with your Bureau Representatives to enable any subscriber codes for trended data that will be retrieving data that could be submitted to LPA or Loan Quality Advisor.
We know that most of your subscriber codes are already set up and you have been providing trended data to your customers for years. However, if you have mortgage codes in use that are not currently providing trended data today, now is the time to make sure those subscriber codes are properly enabled at EFX, TU and XPN.
You can do this by double checking and verifying your subscriber codes in XOP. Then, communicate with your Bureau Representatives to enable any subscriber codes for trended data that will be retrieving data that could be submitted to LPA or Loan Quality Advisor.