What does it mean if Loan Prospector does not return a REO History Message?
The REO data used in Loan Prospector is not comprehensive. If no message is returned, then the stated subject property address does not match an address in the REO data. It could however, have been in an investor REO portfolio, but that data is not accessible by Loan Prospector. It could also mean that the subject property address was not valid and the “address not found” message was returned. Although no action is required, we suggest that you verify that the address exists and is entered correctly. In some cases, such as new construction, the “address not found” message will be returned because the address is not yet in the US Postal Service database, and Loan Prospector cannot verify it exists.
Related Questions
- When Loan Prospector delivers the feedback message "Existing FM loan ineligible for Open Access," does it specify whether the ineligibility is due to a credit enhancement or an ineligible loan type?
- Is a loan still eligible for purchase by Freddie Mac if it receives a REO History Message?
- What does it mean if Loan Prospector does not return a REO History Message?
