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The LPA or loan product advisor feedback certificate summarizes wether a mortgage will be eligible for purchase by Freddie Mac , what certificate is described?

- based on the data submitted, the loan meets Freddie Macs credit risk and eligibility requirements

A) caution
B) accept/ eligible
C) accept / eligible LPA minus offering
D) accept/ ineligible

User Taruo Gene
by
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1 Answer

2 votes

Final answer:

An 'Accept/Eligible' certificate from Loan Product Advisor indicates a mortgage meets Freddie Mac's underwriting criteria and is eligible for purchase. 'Caution', 'Accept/Ineligible', and 'Accept/Eligible LPA Minus Offering' represent different levels of eligibility and compliance with Freddie Mac's standards.

Step-by-step explanation:

The certificate that describes a situation where 'based on the data submitted, the loan meets Freddie Mac's credit risk and eligibility requirements' is an Accept/Eligible certificate. This certificate from the Loan Product Advisor (LPA) indicates that the mortgage in question meets the required underwriting criteria and is eligible for purchase by Freddie Mac. In contrast, a 'Caution' rating would suggest that the loan may not be eligible, and 'Accept/Ineligible' indicates that while the loan meets certain criteria, it may not meet other essential requirements for purchase by Freddie Mac. An 'Accept/Eligible LPA Minus Offering' rating may refer to a specialized product offering with specific adjustments to underwriting criteria.

User Jason Jackson
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