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Systems used for FHLMC loans

Systems used for FHLMC loans. Systems Used. The following slides give brief descriptions of the various tools that you will be using when working FHLMC loans. MSP. The screen where we will read/write the status of the FHLMC Short Sale/Deed-in-Lieu loans.

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Systems used for FHLMC loans

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  1. Systems used for FHLMC loans

  2. Systems Used • The following slides give brief descriptions of the various tools that you will be using when working FHLMC loans.

  3. MSP • The screen where we will read/write the status of the FHLMC Short Sale/Deed-in-Lieu loans. • It is important to keep this information as up-to-date and accurate as possible so that we can keep track of the loan’s progress

  4. VLS • Vendor Loan System (VLS) allows one to search for a loan by loan number, name of the borrower, or the borrower’s number.

  5. LenderLive • Site where all of the documents pertaining to the loans are stored.

  6. Guardian • Guardian uses LenderLive to process a customer's return modification package and documents. Guardian will send a report to Chase that details all documents that were received and classified.

  7. WP2 • Workout Prospector II (WP2) is the FHLMC’s decision tool. • The underwriter enters the borrower’s information, and if the WPII decision matches the AD decision, then the underwriter continues to process the approval or denial.

  8. INFOSOURCE • A Job Aid site that allows us to review the information and documents relating to HAFA loans, send request letters to authorized 3rd parties, and check the status of all loans.

  9. OLLW • On-line letter writer (OLLW) allows you to create letters relating to complaints, missing documents, etc.

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