At the direction of the Federal Housing Finance Agency, the Adverse Market Delivery Charge is being discontinued and certain
loan-level price adjustments are being changed, effective with whole loans purchased on or after September 1, 2015, or loans
delivered into MBS pools with issue dates on or after September 1, 2015 (including DU Refi Plus™ and Refi Plus™ loans). The
details of the pricing adjustments are available in the Loan-Level Price Adjustment (LLPA) Matrix and the Refi Plus™ Loan-Level
Price Adjustment (LLPA) Matrix.
The update introduces the Servicing Execution Tool™ (SET™) Bifurcation option for approved lenders and updates policies related
to margin requirements for co-op share ARM loans; owner-occupancy requirements; ALTA short form coverage; alignment of the
Selling Guide with Desktop Underwriter® messages for derogatory credit events and disputed credit tradelines; and other miscellaneous
updates and changes.
Lender Letter 2015-03
This Lender Letter discusses Fannie Mae’s post-purchase loan file review process and the shift in focus to increasing lender
certainty through defect prevention, remedies, and alternative to repurchase. Also, the National Underwriting Center has been
renamed as the Loan Quality Center.
In Case You Missed It
Looking for an executive summary of recent Fannie Mae announcements and notifications? Read In Case You Missed It 2015.
This Notice advises lenders that Fannie Mae is postponing the mandatory implementation of the self-employed income policies
that were announced in Announcement SEL-2014-16.
March 2015 AQM List Posted
The March 2015 Appraiser Quality Monitoring (AQM) list has been posted on the Appraiser Quality Monitoring page.
Fannie Mae has updated the pricing guidelines in the Loan-Level Price Adjustment (LLPA) Matrix and Adverse Market Delivery
Charge (AMDC) Information and the Refi Plus™ Mortgages Only Loan-Level Price Adjustment (LLPA) Matrix and Adverse Market Delivery
Charge (AMDC) Information matrices to reflect the policy change that pertains to loan-level price adjustments and credit scores.
New Quarterly Compass Newsletter
A new Quarterly Compass is available with news and updates on the Uniform Closing Dataset, eClosings and eMortgages, Form
582, Community Seconds, as well as Collateral Underwriter, DU, EarlyCheck, and Condo Project Manager.