Selling Guide

Published December 4, 2018

C2-2-02: Documentation Requirements for Whole Loan Deliveries (04/03/2018)

This topic describes the documentation requirements for whole loan deliveries, including:

Required Documents for Whole Loan Mortgages

See E-2-01, Required Custodial Documents, for a list of the mortgage documents that should be included in the document submission package for all mortgage loans.

Submission of Documents for Whole Loans to Fannie Mae’s DDC or FCC

Mortgage document submission packages must be submitted to Fannie Mae's DDC or FCC via overnight delivery (with instructions for first morning delivery) for the following:

  • whole mortgage loans,

  • eNotes,

  • As Soon As Pooled Plus (ASAP Plus), or

  • As Soon As Pooled (ASAP Sale).

All packages shipped to Fannie Mae’s DDC or FCC should be sent to Fannie Mae New Loan Submissions with the related list of loans. See E-1-03, List of Contacts.

The DDC or FCC will certify the loans in accordance with the applicable Master Custodial Agreement in effect for Fannie Mae, the lender, and the document custodian.

Whole Loan Deliveries to Fannie Mae’s DDC or FCC

Lenders are required to submit data for whole loan deliveries to Fannie Mae via Fannie Mae’s Loan Delivery application.

To ensure timely delivery to Fannie Mae's DDC or FCC, the seller should ensure the mortgage document submission package is submitted to its overnight carrier (with instructions for first morning delivery) the same day that the seller submits the loan data to Fannie Mae for purchase. Loan data delivered by the seller to Fannie Mae will be certified the next business day provided the documents have been delivered to Fannie Mae’s DDC or FCC via first morning delivery, and there are no discrepancies.

When the DDC or FCC receives the mortgage document submission package, it will review the related mortgage documentation to verify that all of the required documents have been received and are in order. As a convenience to Fannie Mae’s lenders, the DDC or FCC will verify and then work with the lender to correct any certification data errors.

For loans delivered to the DDC, the lender will be notified of any document deficiencies or corrections to data via the DDC’s Web portal. The lender should work directly with the DDC or FCC to resolve any document or data issues. Provided there are no document or data-related errors, the DDC or FCC will then transmit a certification to Fannie Mae.

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-2018-03 April 03, 2018
Announcement SEL-2011–11 October 25, 2011
Announcement SEL-2011–05 June 28, 2011
Announcement 08-37 December 19, 2008
Announcement 08-32 December 10, 2008