This topic provides information on the loan data lenders must deliver in order to make good delivery, including:
Loan data for all mortgages must be electronically transmitted to Fannie Mae using Loan Delivery. Loan Delivery is a Web-based application that allows lenders to deliver whole loans for purchase and MBS loans for securitization to Fannie Mae. Lenders can import loan and pool data, perform edits to facilitate error-free delivery, transfer loans between commitments (or pools), track the status of loan deliveries, generate reports, and export loan and pool data back to the lender’s organization.
For information regarding the Uniform Loan Delivery Dataset (ULDD) and the data delivery requirements, access the ULDD page on Fannie Mae’s website. The Fannie Mae Implementation Guide for Loan Delivery Data, Appendix D: Fannie Mae XML Data Reference, provides a listing of the ULDD required and conditionally required data fields, as well as field definitions and implementation notes. For additional guidance on ULDD, refer to the following resources available on the ULDD page:
Frequently Asked Questions,
ULDD Specification, and
General and Technical Implementation Resources.
Resources specific to the Loan Delivery application that support the delivery of the ULDD data can be found on the Loan Delivery page on Fannie Mae’s website. This page includes links to various resources, including:
Loan Delivery Release Notes,
Loan Delivery Business Rules Dictionary, and
Loan Delivery Job Aids and User Guide (in Help & Training).
Lenders must notify Fannie Mae if they
determine there are discrepancies in the data attributes submitted to Fannie Mae at the time of loan delivery and the lender’s loan records,
they did not submit housing goal attributes at initial loan delivery, or
they believe there are errors in the whole loan Purchase Advice.
Lenders must follow the post-purchase adjustment process to resolve these matters. For additional information and instructions, see Fannie Mae's website. Also see C2-2-05, Whole Loan Purchasing Process for additional information about reconciling the Purchase Advice and after sale corrections.
Lenders must include specific special feature code(s) (investor feature identifier) as part of the delivery data when delivering certain mortgage loans. Fannie Mae auto-derives certain special feature codes based on other data submitted in the delivery data. Auto-derived special feature codes are not required to be included in the lender’s delivery data. For a list of special feature codes, including those that are auto-derived, see Special Feature Codes .
If a lender fails to identify or incorrectly identifies on a consistent basis any applicable special feature code(s) when it submits loans requiring these codes in fulfillment of a whole loan commitment or for inclusion in an MBS pool, Fannie Mae may impose a compensatory fee. The amount of the fee will be based on:
the lender’s overall performance,
the lender’s explanation for its failure to comply,
previous instances of noncompliance,
the amount of any previous compensatory fee, and
any other factors Fannie Mae deems relevant.
Documentation requirements will differ based on the type of loans being delivered to Fannie Mae. For details, see C2-2-01, General Requirements for Good Delivery of Whole Loans, C2-2-02, Documentation Requirements for Whole Loan Deliveries, and C3-7-04, Delivering MBS Pool Data and Documents, respectively.
See theFannie Mae Requirements for Document Custodians (RDC guide) for document delivery and certification requirements.
The lender is responsible for ensuring that the document custodian receives, within 30 days of loan certification, the Fannie Mae loan number for every mortgage loan for which the document custodian provides custodial services. The lender must respond within three business days to any request from the document custodian to provide the Fannie Mae loan number following the certification of the related mortgage loan.
Lenders are required to electronically submit certain appraisal reports through the UCDP prior to the delivery of the loan. See B4-1.1-06, Uniform Appraisal Dataset (UAD) and the Uniform Collateral Data Portal (UCDP)for details on these requirements.
Uniform Closing Dataset (UCD)
The UCD is a common industry dataset that allows information on the Closing Disclosure to be transmitted electronically to Fannie Mae. Lenders are required to electronically submit a UCD XML file of the loan to Fannie Mae and receive a “Successful” status from the UCD collection solution prior to the delivery of the loan. The UCD XML file must contain the borrower data and the PDF of the borrower Closing Disclosure. Lenders are required to submit the UCD XML file for all conventional loans, regardless of whether the TILA/Regulation Z Rule requires the Closing Disclosure, including non-owner-occupied property loans.
For additional information on the UCD data requirements, refer to the UCD Delivery Specification.