Calyx Software Message Board / Calyx Point / Freddie Mac / Stated Income? / Latest Posts

RE: Stated Income?

Bryan Telford — Thu, 22 Sep 2005 12:57:19 GMT

Hi Chris. Here is the answer I got from our vendor rep at Freddie Mac regarding the Doc Type.

The Doc Type field was related to Risk Grade Evaluations. The Doc Type field was on the RGE screen in LP.com, so when RGE was retired it no longer applied to LP.com.

I hope that clears it up.

RE: Stated Income?

ChrisSauerwein — Tue, 20 Sep 2005 04:37:59 GMT

Yes, I already utilize that field for the exact reason you mentioned, but my concern now is that we are, in essence, failing to report an additional a layer of risk to LP when we request AUS findings.

I guess I'll have to contact Freddie directly to see if this could ever be an issue that could invalidate our findings. I don't know that answer, but when I find out I will post it here.

Chris

RE: Stated Income?

Bryan Telford — Mon, 19 Sep 2005 20:45:55 GMT

I could not locate an entry for Doc Type in the LoanProspector.com website. There are some fields we don't carry anymore in the Freddie Mac Loan Prospector screens within Point because of the differences between LP.com "2-way" and LP Classic "1-way" (LP Classic "1 way" is being retired in March 2006).

See here for the complete list of fields: http://www.calyxsupport.com/tips/freddie_095.htm

That said we do have a Doc Type field in Point. You can create a custom doc type list (Utilities > Dropdown Lists > Doc Type). While this does not export to Freddie you may find this useful for reporting, etc.

Stated Income?

ChrisSauerwein — Mon, 19 Sep 2005 07:27:52 GMT

Where, on the new LP interface, are we supposed to notate that a file is Full Doc, No IV, No IV/EV, etc?

I'm doing my first stated income file since the conversion to 5.1 and in reviewing the help documentation, I do not see this addressed.

Thanks, Chris