Freddie Launches LoanProspector.com

In a major strategic bid to offer one-stop shopping, Freddie Mac has announced the launch of LoanProspector.com.The site will enable mortgage lenders and brokers to use the same data submitted to LP to be used to order appraisals, flood determinations, title products, and property surveys. Having done that, mortgage lenders and brokers can use the LoanProspector.com site to check order status in real time and receive reports. As of Dec. 8, all customers using Loan Prospector on the Internet will automatically be directed to the new loanprospector.com website. Freddie Mac characterized the launch of the new site and the inclusion of vendor services as a major strategic commitment to electronic mortgages, not merely a technology upgrade. Over the next two years, Freddie said the website will offer online pricing, electronic closing, and access to secondary market funding services and to the Loan Prospector suite of tools. Freddie Mac can be found online at http://www.freddiemac.com.