Submitted For Review Status
The submission shows Submitted For Review status when a third party foreclosure sale has been sent for settlement exception review by Resolve®.
Resolve automatically routes the third party foreclosure sale to the exception review path due to failed settlement business rules, such as a valid credit bid isn't available for the loan or the sale proceeds don't meet the lower of the credit bid or total debt. The status updates to Submitted For Review on the Resolve dashboard indicating that the loan requires review by a Freddie Mac analyst.
Note: Once a loan goes into a Submitted For Review status for exception review processing, the dashboard with show a Submitted For Review status and the Sale Details page will show a Submitted status.
