Selling Guide

The Selling Guide is organized into parts that reflect how lenders generally categorize various aspects of their business relationship with Fannie Mae. To begin browsing, select from any of the sections below. You may also download the entire Selling Guide in PDF format.

View All Selling Policy Updates

Download PDF

Hint: Ask in a form of a question.

C1-2-02, Loan Data and Documentation Delivery Requirements (12/04/2019)

Introduction

This topic provides information on the loan data lenders must deliver in order to make good delivery, including:

 

Electronic Submission via Loan Delivery

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.

 

Loan Delivery Application Resources

For information regarding the Uniform Loan Delivery Dataset (ULDD) and the data delivery requirements, access the ULDD page on Fannie Mae’s website. The ULDD Implementation Guide, Fannie Mae 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:

  • ULDD Quick Guides,

  • ULDD Frequently Asked Questions, and

  • ULDD Updates.

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:

 

Required Data Elements and Post-Purchase Delivery of Additional Data Elements

The lender must provide information about certain borrower and property characteristics as part of the loan delivery data. Although lenders must provide all data at the time of initial loan delivery, corrected data must be provided by the lender as soon as possible after initial delivery. Lenders must submit corrections using the following options, as applicable,

  • Loan Servicing Data Utility’s (LSDU) self-service data change process for HMDA borrower demographic data elements, and the

  • Post-purchase adjustments (PPAs) process for remaining housing goals data. See Lender Initiated PPAs on Fannie Mae’s website for more information.

 

Special Feature Codes

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.

For additional information about delivery of special feature codes, see the Special Feature Code section of the Loan Delivery/ULDD Job Aids .

 

Documentation Requirements

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 the Fannie Mae Requirements for Document Custodians (RDC guide) for document delivery and certification requirements.

 

Delivery of the Fannie Mae Loan Number to the Document Custodian

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.

 

Additional Required Electronic Submissions

Appraisal Data

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.

Related Articles

C1-2-01, General Information on Delivering Loan Data and Documents (05/01/2019)

IntroductionThis topic provides general information on a lender’s obligation to supply data and documentation of all loans submitted to Fannie Mae...

Read more

C1-2-03, Ownership of Mortgage Loans Prior to Purchase or Securitization and Third-Party Security Interests (04/03/2018)

IntroductionThis topic provides information on the following: Mortgage Loan Certification Overview  Control of Mortgage Notes During the Loan...

Read more

C1-2-04, Bailee Letters (04/03/2018)

IntroductionThis topic provides information on bailee letters, including: Bailee Letters  Resolution of Mismatched Delivery Instructions ...

Read more

What is the UCD?

Uniform Closing Dataset (UCD)The UCD is a common industry dataset that allows information on the Consumer Financial Protection Bureau’s (...

Read more

Have guide questions? Get answers to all of your policy questions, straight from the source.

Get Started
X
Having Issues with Seeing this Page Correctly?

Use Firefox or Chrome   How to do a hard refresh in Internet Explorer
We recommend that you use the latest version of FireFox or Chrome.

Download Firefox
Download Chrome
  A hard refresh will clear the browsers cache for a specific page and force the most recent version of a page.
    Hold the Ctrl key and press the F5 key.
     

Email Us
If you still have Technical Support questions, feel free to emailAsk_Poli@fanniemae.com.