We’re thrilled to announce that Truv supports the latest enhancement from Freddie Mac’s Loan Product Advisor® (LPASM) asset and income modeler (AIM). This new enhancement expands automation capabilities by assessing representation and warranty relief (R&W) eligibility related to the borrower’s current employment.
What’s new?
With this enhancement, lenders can now have more opportunity for R&W relief eligibility. For loans where a Truv report has been pulled and submitted to LPA, LPA will now assess for employment R&W relief eligibility if the loan is closed on or before the close-by date. This offers a smoother employment verification process and more confidence in closing.
How does it work?
Truv is a third-party service provider with Freddie Mac’s AIM. When you use Truv, this new enhancement allows LPA to assess for employment R&W relief eligibility if the loan is closed on or before the close-by date. This enhancement further automates the employment verification process, making it faster and more reliable for both lenders and borrowers.
What does this mean for lenders?
- A smoother employment verification process
- Increased confidence in loan closings
- No additional integration required—the new features are automatically available
Starting on October 14, 2024, lenders will start seeing updated LPA feedback messaging indicating employment R&W relief eligibility, making the process more efficient than ever before.
Ready to learn more?
As always, the Truv team is here to support you every step of the way!
