Freddie Mac warns lenders about selling system outage

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Users were having trouble accessing Freddie Mac's selling system Monday afternoon, according to an alert issued by the government-sponsored enterprise.

"Some users may be experiencing access issues with the Freddie Mac Selling System," according to the technology alert issued shortly before 3 p.m. "We are working to resolve these issues as quickly as possible."

Freddie is working on redesigning and creating a new user interface for the selling system, which lenders use to deliver loans, according to an announcement the GSE posted on its website Sept. 21.

The agency plans to integrate the selling system with Loan Advisor Suite, a group of technology tools that handle the quality control portion of the loan submission process. When the integration is complete, mortgage lenders will access the selling system by signing in through a single sign-on accessible through Loan Advisor Suite's portal.

The GSE on Monday was specifically working on deploying an update aimed at improving messaging in the selling system and in Loan Quality Advisor, a part of the LAS suite that uses the Uniform Loan Delivery Dataset file lenders submit to Freddie Mac to validate loan-level borrower information.

The agency plans to rebrand the Freddie Mac Selling System as Loan Selling Advisor on Dec. 11.

Freddie is making the changes to the selling system based on user feedback. Other changes planned include a new navigation pane on loan screens that allows moves between them without scrolling, removal of click-through tabs, improvement in screen resolution, presentation of larger tables and improved search capabilities.

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GSEs Mortgage technology Underwriting Information systems Risk management Freddie Mac