Freddie Mac announced Tuesday that it will broaden the capabilities of its automated underwriting system.

Freddie said it will add more Alternative A loan products, simplify access to A-minus products, broaden FHA and VA product eligibility with one-step conventional-loan comparisons, and reduce documentation requirements.

The agency also said it will cut posted prices for loans evaluated on Loan Prospector.

Effective July 1, the cost will be $20 for a conventional credit evaluation and $40 for an FHA or VA evaluation.

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