Selling Guide

Published May 30, 2017

C1-2-02: Loan Data and Documentation Delivery Requirements (06/30/2015)

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 are strongly encouraged to provide all data at the time of initial loan delivery, missing or corrected data must be provided by the lender as soon as possible after initial delivery using Fannie Mae's Additional Data Elements (ADE) application.

Each month, Fannie Mae sends lenders reports that show any missing or invalid Housing Goals data for year-to-date deliveries. Lenders have until 5:00 p.m. (Eastern time) on the last business day of the month to transmit missing information or corrections to Fannie Mae via ADE. For information about how to read these reports, see the Housing Goals Data page on Fannie Mae's website.

For additional information about delivery of this data, see ULDD Quick Guide — Guidelines for Housing Goals.

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. For a list of special feature codes, 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 ULDD Quick Guide — Special Feature Codes and New Required Fields.

Documentation Requirements

The documentation to be submitted and the process used to submit it differ for loan deliveries made in fulfillment of whole loan and MBS transactions. Documents for whole loan deliveries must be sent to Fannie Mae’s DDC. Documents for MBS mortgages must be sent to an approved document custodian or to Fannie Mae’s DDC. 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 Data and Documents, respectively.

See the Fannie Mae Requirements for Document Custodians 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.

Related Announcements

The table below provides references to the Announcements that have been issued that are related to this topic.

Announcements Issue Date
Announcement SEL-2015–07 June 30, 2015
Announcement SEL-2012–06 June 26, 2012
Announcement SEL-2011–11 October 25, 2011
Announcement SEL-2011–06 July 26, 2011
Announcement SEL-2011–05 June 28, 2011
Announcement 08-37 December 19, 2008