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C1-2-02, Loan Data and Documentation Delivery Requirements (10/04/2023)

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

Electronic Submission via Loan Delivery

Data for all loans 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.

Loans may only be submitted and purchased in Loan Delivery if they are clear of all fatal edits.  Loans are subject to all fatal edits in Loan Delivery throughout the submission, loan documentation certification and acquisition purchase process.  If a loan encounters a fatal edit, the fatal edit must be resolved for Fannie Mae to acquire the loan.

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 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).

Seller/Servicer-Initiated Post-Purchase Adjustments

Lenders must notify Fannie Mae when

  • they determine there are discrepancies in the data attributes submitted to Fannie Mae at loan delivery and their loan records,

  • they did not submit housing goal attributes at loan delivery, or

  • the property address has been rezoned.

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 ProcessC2-2-05, Whole Loan Purchasing Process for additional information about reconciling the Purchase Advice and after sale corrections.

Lenders must submit data corrections within 18 months of the loan's acquisition date to be considered for repricing of loan-level price adjustments (LLPAs). A minimum $100 requirement per loan (credit or debit) is also required. The 18-month lookback period does not apply to the drafting or collection of repurchase alternative fees. Fannie Mae, in its sole discretion, may adjust the minimum dollar amount and lookback period at any time.

Special Feature Codes

Lenders must include specific special feature code(s) (investor feature identifier) as part of the delivery data when delivering certain loans. Fannie Mae auto-derives certain special feature codes based on other data submitted. 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 they submit loans that require 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 their 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 additional details, see C2-2-01, General Requirements for Good Delivery of Whole LoansC2-2-01, General Requirements for Good Delivery of Whole Loans, C2-2-02, Documentation Requirements for Whole Loan DeliveriesC2-2-02, Documentation Requirements for Whole Loan Deliveries, and  C3-7-04, Delivering MBS Pool Data and DocumentsC3-7-04, 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 the Fannie Mae loan number for every loan within 30 days of loan certification. 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 must 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)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 must 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.

Recent Related Announcements

The table below provides references to recently issued Announcements that are related to this topic.

Announcements Issue Date
Announcement SEL-2023-09 October 04, 2023
Announcement SEL-2021-05 June 02, 2021
Announcement SEL-2021-01 February 03. 2021
Announcement SEL-2019-09 December 04, 2019