Freddie Mac's Loan ProspectorT Sets Milestones in 2002

WASHINGTON – Freddie Mac had three milestones to celebrate in 2002 for its Loan Prospector system. First, Loan Prospector evaluated its 25 millionth loan. It also reached a record annual volume for the eighth consecutive year – 8.2 million individual loans, and lastly, it launched its loanprospector.com integrated Web site that features automatic data transfer and an online fulfillment management service that mortgage lenders and brokers can use to order appraisals, flood determinations, title products and property surveys from vendors. In 1995 when the product was released, Loan Prospector evaluated more than 38,000 loans. In 2001, it reached the 10 million mark; by June 2002, it reached the 20 million mark, and by Dec. 18, it evaluated its 25 millionth loan. The total number of loans Loan Prospector evaluated has steadily climbed: 38,248 loans in 1995; 203,424 in 1996; 528.809 in 1997; 2.07 million in 1998; 3.03 million in 1999; 3.80 million in 2000; 7.38 million in 2001; and 8l2 million in 2002.