Loan Delivery Release Notes

See the LD Edit Change Effective Date column in the Loan Delivery Business Rules for a listing of effective edit updates including:

• 6 new information edits to validate CPM
• 2 edits moving from informational to warning to validate Appraisal and CPM
• 12 edits moving from warning to fatal to validate legal entity, eMortgage, CPM, and Green mortgages

See the LD Edit Change Effective Date column in the Loan Delivery Business Rules for a listing of effective edit updates including:

• 40 edits moving from informational to warning to validate CPM delivery restrictions
• 52 edits moving from warning to fatal to validate ULDD Phase 5, Appraisal, Value Acceptance, and FTHB

ULDD documents have been updated for Wire Instruction Reference Identifier and Deed Restriction, please see ULDD Phase 5 Implementation Considerations for details.

See the LD Edit Change Effective Date column in the Loan Delivery Business Rules for a listing of effective edit updates including:

• 3 edits moving from informational to warning to validate LTV/CLTV, interest rate, and HomeReady VLIP LLPA credit
• 2 DU compare edits moving from warning to fatal to validate monthly income

Effective February 3, 2025, the Seller's Designation of Wire Transfer Instructions (Form 482) has been updated for sellers to provide Beneficiary Address (street, city, state, zip) information for whole loan purchases. This is a new requirement to conform to the Federal Reserve's ISO 20022 standards. The required beneficiary address is the address of the business entity receiving the funds.

In preparation to conform to the new ISO 20022 standards, Fannie Mae will update existing wiring instructions by March 3, 2025, using address information available in other Fannie Mae systems. If an address is unavailable, Fannie Mae will reach out to the Seller, Warehouse Lender or Disbursement Agent to gather an appropriate beneficiary address to be used. Delays in responding may cause funding delays due to wires being rejected. Fannie Mae will initially update the beneficiary address information for existing wiring instructions based on wiring instruction Receiver Type in Loan Delivery using the following methodology:

• If the Receiver Type is set to "Seller", Fannie Mae will use the address provided on the Lender Record Information (Form 582)
• If the Receiver Type is set to "Warehouse Lender", Fannie Mae will use the address provided at the time of the warehouse lender's registration (or the address most recently provided to Fannie Mae by the warehouse lender that is reflected in Fannie Mae's systems)
• If the Receiver Type is set to "Disbursement Agent", Fannie Mae will use the address provided at the time of the disbursement agent's registration (or the address most recently provided to Fannie Mae by the disbursement agent that is reflected in Fannie Mae's systems)
• If a Seller would like to update the beneficiary address, the updated Form 482 will need to be submitted after March 3, 2025

In accordance with ISO 20022, the beneficiary address will be on the wire details provided to the beneficiary bank.

Effective March 10, beneficiary address information is required on all cash wiring instructions. Cash wires may be rejected if the beneficiary address information is missing.

Additionally, pursuant to ISO 20022, the Beneficiary Bank Instructions (Financial Institution to Financial Institution Information - Tag 6500) will no longer be available on the wire details provided to the beneficiary bank. Fannie Mae will be appending the existing Beneficiary Bank Instructions into the Beneficiary Message (Originator to Beneficiary Information – Tag 6000) field.

For questions or support, please contact [email protected]

Effective February 24, 2025, Loan Delivery will introduce new warning edits 2821, 2855, 2856, and 2857 to support the delivery of the Universal Loan Identifier (ULI) when applicable. These edits apply to Sort ID 403.1 and will be fatal April 21, 2025. See ULDD Phase 5 Implementation Considerations for details.

See the LD Edit Change Effective Date column in the Loan Delivery Business Rules for a listing of effective edit updates including:

• 1 new informational edit for appraiser validation
• 11 edits new warning edits to validate ULI (see above for details), borrower mailing address, and hybrid appraisal
• 1 new fatal edit and 1new file validation rule to prevent submitting NPI data in non-NPI fields

Fannie Mae recently announced an expansion to the hybrid appraisal policy effective March 22, 2025. To support this announcement, Loan Delivery will introduce new edits and update existing edits to ensure hybrid appraisal eligibility. See Selling Guide Announcement (SEL-2025-01) and Loan Delivery Business Rules for more details.

SID 398.3 Wire Instruction Reference Identifier is now available in LDTE and Production on March 24, 2025. Please see the updated ULDD Phase 5 Implementation Considerations for details.

See the LD Edit Change Effective Date column in the Loan Delivery Business Rules for a listing of effective edit updates including:

• 1 new informational edit for MBS loan Note Rate validation
• 2 warning edits to validate appraisal
• 2 edits moving from warning to fatal to validate HomeReady VLIP LLPA credit (on 3/1) and hybrid appraisal (on 3/24)

Effective April 18, 2025, Loan Delivery will automatically populate Special Feature Code (SFC) 881 DOE Zero Energy Ready Home Certification for Green Bonds on Whole Loans that Fannie Mae identifies as securing a property with an eligible DOE Zero Energy Ready Home green building certification. Additionally, Loan Delivery will automatically populate Special Feature Code (SFC) 888 WaterSense Certification on Whole Loans that Fannie Mae identifies as securing a property with an eligible WaterSense certification. If SFC 881 or 888 is auto-populated on the loan, warning edit 2740 or 2739 will fire, respectively, notifying sellers of the change. No action is required by sellers. Contact your Fannie Mae representative for assistance or additional information.

Fannie Mae recently announced an expansion to the hybrid appraisal policy effective March 22, 2025. To support this announcement, Loan Delivery will introduce new edits and update existing edits to ensure hybrid appraisal eligibility. See Value Acceptance and Property Data Fact Sheet and Loan Delivery Business Rules for more details.

On February 24, 2025, Loan Delivery introduced new warning edits 2821, 2855, 2856, and 2857 to support the delivery of the Universal Loan Identifier (ULI) when applicable. These edits apply to Sort ID 403.1 and are fatal effective April 21, 2025. See ULDD Phase 5 Implementation Considerations for details.

See the LD Edit Change Effective Date column in the Loan Delivery Business Rules for a listing of effective edit updates including:

• 23 new informational edits to validate CPM delivery restrictions and system availability, Value Acceptance, and Appraisal
• 23 warning edits to validate appraisal, eMortgages, legal entity, Green mortgages, Value Acceptance, income, and HomeStyle Renovation eligibility
• 5 fatal edits to validate borrower address and Universal Loan Identifier (ULI).