Applications & Technology

Loan Delivery Release Notes

See how we're updating our Release Notes to communicate new enhancements and future features available in Loan Delivery in this easy-to-read guide.

Effective Date Impacted Area Description
Oct. 19
Updated
Edit Updates See the LD Edit Change Effective Date column in the Loan Delivery Business Rules for a listing of effective edit updates including:

  • Edits related to Pool, Interest Rate, Amortization, Appraisal, ARMs, Debt-to-Income Ratio (DTI), Mortgage Insurance (MI), Address, Loan Program, Seller-Servicer Number, Property Data, Commitments, Servicing Marketplace (SMP), and Loan Limits changing from warning to fatal severity
  • New warning edit related to Mortgage Insurance (MI) and Servicing Marketplace (SMP)
Effective Date Impacted Area Description
Nov. 16
Updated
Edit Updates See the LD Edit Change Effective Date column in the Loan Delivery Business Rules for a listing of effective edit updates including:

Effective Date Impacted Area Description
January 27
Commitment Eligibility Edits

Several Commitment Eligibility edits for whole loans will move from warning to fatal severity to identify commitment-related edits prior to submission. Review the Commitment Eligibility Edit Quick Tips for Whole Loans and the Loan Delivery Business Rules Edit Changes tab for more details. Note: Additional commitment-related edits for commitment balance and product-related issues will be added to Loan Delivery over the coming months.

January 27
Edit Updates

See the Loan Delivery Business Rules Edit Changes tab for a listing of edits changing from warning to fatal severity eMortgage, Servicing Marketplace (SMP), and cooperative-related edits.

January 27
Removal of Pop-Up at Submit In November 2019, Loan Delivery was updated to run edits automatically once the Submit button was selected. The pop-up screen that informed lenders that the edits were being run at Submit will be removed to streamline the submission process.
February 24
Commitment Eligibility Edits

Several Commitment Eligibility edits for MBS loans transitioned from informational to warning severity. Review the Commitment Eligibility Edit Quick Tips for MBS and the Loan Delivery Business Rules for more details.

February 24
Edit Updates

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

  • Edits changed from warning to fatal severity related to Mortgage Insurance (MI), Entity, Address, Loan Limits, and ARMs.
  • New warning edits related to ARMs, Payments, Property-Project Type, Seller-Servicer, Servicing Marketplace® (SMP®) and High-LTV Refi.
February 24
Commitment Management Screen The Commitment Management screen layout was revised with a new look and feel and enhanced filter functionality. The Reports button was combined with the Exports button to simplify usability. An overview of the new screen is available in the Loan Delivery Test Environment (LDTE), or you can view more details in the Commitment Management Screen Updates document.
February 24
Business Rules Dictionary Update

The Loan Delivery Business Rule Dictionary format was refreshed to simplify the communication of upcoming edit changes for 2020. All edit changes were incorporated into one tab with a new Effective Date column to identify edit changes for each month.

March 31
COVID-19 Appraisal Flexibilities In response to the COVID-19 national emergency, Fannie Mae has introduced temporary flexibilities regarding our appraisal requirements, as announced in Lender Letter LL-2020-04, Impact of COVID-19 on Appraisals.

The Loan Delivery application and business rules will support the temporary flexibilities allowing for exterior-only inspection appraisals and desktop appraisals at the time the loan is sold to Fannie Mae.
May 1
Loans in Forbearance due to COVID-19 As announced in Lender Letter LL-2020-06, Selling Loans in Forbearance Due to COVID-19, loans in a forbearance plan due to a COVID-19 hardship will be eligible for sale to Fannie Mae if the loans comply with the requirements stated in the Lender Letter.

The Loan Delivery application and business rules will support the temporary flexibilities allowing for loans in forbearance to be sold per the effective dates and requirements stated in the Lender Letter. Lenders will need to provide Special Feature Code (SFC) 919 in Loan Delivery to identify loans in forbearance. Review the Lender Letter and Loan Delivery Quick Reference Guide for additional information.
May 18
Loan Level Data CSV Export File Update The Loan Level Data CSV Export file will be updated to add the eNote Indicator field to the end of the report so lenders can easily identify eMortgage loans.
May 18
Payee Code Updates As a reminder, Form 482 (Seller’s Designation of Wire Transfer Instructions) must be used for any changes related to whole loan payee codes, including creating new wiring instructions, updating account information, adding or removing seller numbers, and deleting wiring instructions.

As of May 18, once the form is processed, the updates will automatically be made the next day in Loan Delivery. Lenders will not be able to add, update seller numbers, or delete whole loan wiring instructions (payee codes) directly in Loan Delivery after this date. Lenders will still be able to add certain fields such as Nickname, Warehouse Lender, and others directly in Loan Delivery. Refer to the Wire Instructions job aids for more information.
June 1
New Edit Related to Updated ARM Guidelines As announced in Lender Letter LL-2020-01, fallback language recommended by the Alternative Reference Rate Committee (ARRC) was incorporated in published ARM notes and riders earlier this year and use of the updated documents is required for all loans closed on or after June 1, 2020.

For tracking purposes, SFC 785 must be included in the loan delivery data for loans that are closed using these updated documents. Loan Delivery will implement a new edit to ensure delivery of SFC 785 on all ARM loans closed on or after June 1, 2020 with updated notes and riders. Review Lender Letter LL-2020-1 for additional information.
July 20
Edit Updates See the LD Edit Change Effective Date column in the Loan Delivery Business Rules for a listing of effective edit updates including:

  • New warning edits related to Servicing Marketplace® (SMP®)
August 3
SOFR ARM Index Transition and LIBOR Retirement As announced in Selling Guide Announcement SEL-2020-02 and the April 21 Uniform Mortgage Data Program (UMDP) communication, Fannie Mae will begin accepting delivery of SOFR-indexed ARMs through Loan Delivery on August 3. For additional information on the LIBOR-SOFR transition, please refer to the LIBOR Transition page.

In support of the transition, several business rules will be added or updated. Please refer to the Loan Delivery Business Rules for additional information on the business rule updates.
August 24
Pool Certification Status A new pool certification status value of “Not Certified” has been added on the Pool Details screen replacing the current dash (-) value. This new status will display on all pools until they are submitted to Fannie Mae and transferred to the custodian’s queue for certification. Once they are transferred, the status will change to “Awaiting Certification”. Taken together, these statuses provide a more granular view of the certification timeline.

August 24
MBS ARM Subtype The ARM subtype will be automatically populated in Loan Delivery and will be displayed on the Pool Details screen.

Note: Applies to MBS deliveries only. Subtypes are assigned by Fannie Mae and describe the characteristics of the applicable standard ARM plan.
August 24
Edit Updates See the LD Edit Change Effective Date column in the Loan Delivery Business Rules for a listing of effective edit updates including:

  • Edits related to High-LTV Refis changing from warning to fatal severity
  • New warning edits related to Borrower, Mortgage Insurance (MI), Commitments, HELOCs, Loan Program, Payments, ARMs, Appraisals, and Property-Project Type
Sept. 21
Purchased Loans As a reminder, data changes to purchased/funded loans are not permitted in Loan Delivery. A new message will now display on the loan details to reinforce that a post-purchase adjustment (PPA) may be required if updates are needed.

Sept. 21
Edit Updates See the LD Edit Change Effective Date column in the Loan Delivery Business Rules for a listing of effective edit updates including:

  • Edits related to Debt-to-Income (DTI) ratios, Property Data, Mortgage Insurance (MI), Commitments, and Servicing Marketplace (SMP) changing from warning to fatal severity
  • New warning edit related to ARMs