June 26, 2018 | Bulletin #18-14
US Bank Reminder Regarding Freddie Mac Loan Adviser (LCA) Feedback Certificate
GSFA Platinum Lenders are encouraged to review the recent US Bank Lender Operations Update L-2018-037, published by US Bank, with reminders concerning loan file requirements on Freddie Mac loans.

  • Freddie Mac - a Loan Closing Advisor (LCA) Feedback Certificate reflecting Satisfied with no RED “critical” messages is required. US Bank will no longer accept Satisfied (without a Closing Disclosure PDF) messages.

  • All pages of the UCD Findings Report/LCA Feedback Certificate are required with all edit messages.
Updates to Online Reservation System
From time to time, our Lenders give us feedback to help us improve our Online Reservation System. Below are some recent updates and enhancements we have implemented.

Changes to the Loan Reservation Page
  • There are now fields for Borrower 1 and Borrower 2.

  • There are now fields for Title Company information.

  • A new field for the Loan Officer's Nationwide Multistate Licensing System & Registry (NMLS) is coming soon. This will be a required field.

Lenders are reminded that the information requested in Loan Officer Information section is intended to capture data for the loan originating officer. This information is later reviewed for purposes of recognizing top performing loan officers.

Changes to the Loan Docs
  • Deed of Trust -- The Online Reservation System will now auto-populate the Deed of Trust with the date and Trustee (Title Company) information if it is supplied on the loan reservation page. These fields will also be editable in the document itself.

  • Borrower Names will auto-populate in all applicable Loan Docs if it is supplied on the loan reservation page.
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Lender Bulletins are intended for mortgage professionals only. This is not an offer for extension of credit nor a commitment to lend and is subject to change without notice. Complete program guidelines, loan applications, interest rates and annual percentage rates (APRs) are available through GSFA Participating Lenders.

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