Freddie Mac Single-Family Seller/Servicer Guide 5201 — Credit Assessment with Loan Product Advisor®
FHLMC Single-Family Guide §5201.1 governs Credit Assessment via Loan Product Advisor (LPA) for Accept Mortgages. Operative requirements include the four documentation components for Accept Mortgage credit reputation (URLA, credit reports, Last Feedback Certificate, underwriting summary); for Mortgages where not all Borrowers have a usable Credit Score, at-least-one-Borrower-with- usable-score; for the 50%+ income case, 12-month payment-reference duration, no 30+ day housing delinquencies in last 12 months, and no collections/judgments/tax liens in last 24 months.
Verbatim regulatory text
Verbatim provisions from Freddie Mac Single-Family Seller/Servicer Guide 5201 — Credit Assessment with Loan Product Advisor® — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.
FHLMC Single-Family Guide §5201.1(a) — Accept Mortgage credit reputation documentation set
To document the credit reputation for Loan Product Advisor Accept Mortgages, the Seller must use the following: ■ The Uniform Residential Loan Application ■ The credit reports (see Section 5203.1 for details) ■ The Last Feedback Certificate ■ An underwriting summary (e.g. Form 1077, Uniform Underwriting and Transmittal Summary) Direct verification of Mortgage debt, rental payments and other debts not shown on the credit reports are typically not required for Accept Mortgages. For Accept Mortgages with Borrowers who do not have a usable Credit Score, the requirements in Section 5201.1(c) below apply.
FHLMC Single-Family Guide §5201.1(c)(i) — At least one Borrower must have a usable Credit Score
At least one Borrower must have a usable Credit Score, as determined by Loan Product Advisor
FHLMC Single-Family Guide §5201.1(c)(i) — Payment references must have existed for at least the most recent 12 months
Each payment reference must have existed for at least the most recent 12 months
FHLMC Single-Family Guide §5201.1(c)(i) — Housing payment histories: no 30+ day delinquencies in last 12 months
no 30-day or greater Delinquencies in the most recent 12 months
FHLMC Single-Family Guide §5201.1(c)(i) — No-Credit-Score Borrowers: no collections/judgments/tax liens last 24 months
Each Borrower without a usable Credit Score must have no collections (other than medical), judgments or tax liens filed in the most recent 24 months
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Source of record: https://claudeforcompliance.com/regs/fhlmc-5201/
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