Loan Delivery Release Notes

To support the second implementation of ULDD phase 5, Loan Delivery will introduce

• User Interface (UI) changes – details to come
• Edit updates
  • New informational edits around Appraisal, Condo Project Manager (CPM), Remote Notarization Indicator, and MERS status. (Note: These edits are not displayed on the UI. Informational edits can be viewed on the “Edits CSV” export prior to loans being submitted. Download the “Edit History CSV” export in Loan Delivery to view the edits)
• File Validation Rule updates – details to come

See the Loan Delivery Business Rules for a listing of edits, users can filter on the Sub-category (Column J) and search ULDD Ph. 5. These edits will be available in the Loan Delivery Test Environment to accommodate lender testing.

For more information, see the ULDD webpage .

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

• 1 edit deactivated, C32
• 4 edits moving from warning to fatal for Credit Score and Entity
• 3 edits moving from informational to warning for monthly income validations and UCD compare
• 4 new warning edits to validate lien priority type and Housing Counseling
• 12 new informational edits and 4 edits modified to support the second implementation of ULDD Phase 5, see above for details

Effective January 19, 2024 Loan Delivery will automatically populate Special Feature Code (SFC) 784 ENERGY STAR Green Building Certification for Green Bonds on Whole Loans that Fannie Mae identifies as securing a property with an eligible ENERGY STAR green building certification. If SFC 784 is auto-populated on the loan, warning edit 2736 will fire notifying sellers of the change. No action is required by sellers.

For MBS loans: If a seller delivers SFC 784 on an MBS loan, fatal edit 2407 will fire indicating the SFC is invalid, and the SFC will be automatically removed from the loan. Click “Save and run edits” to resolve fatal edit 2407.

Contact your Fannie Mae representative for assistance or additional information.

We are enhancing our report and export functionality in Loan Delivery to provide faster, more efficient generation times for files greater than 100 MB. For any report or export file greater than 100 MB, the file will be generated as a ZIP file format. This is the current functionality for the Schedule of Mortgages and we are expanding this functionality to the MISMO Data XML, Edits CSV, Loan Level Data CSV, Edit History CSV, and Fannie Mae Loan No. CSV exports plus the Delivery Schedule report.

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

Edit D323 related to Value Acceptance + Property Data changing to fatal severity (see Nov 1 entry for details).

• Jan 19: one new edit as Warning for Green Mortgages, see above Energy Star loans for details
• Jan 22: 3 new edits as Warning to validate Note Rate, these will move to Fatal in March
• Jan 22: 2 edits for Attorney Op Letter for Title, 1 edit expiring, 1 edit updating feedback message
• Feb 7: one new warning edit to validate ARM Plan in DU matches ARM in LD

A temporary enhancement will be applied to our HomeReady® product. This enhancement includes a $2,500 loan-level price adjustment credit for very low-income purchase borrowers (VLIP) that can be used for down payment and closing costs. To receive the credit, lenders must receive the appropriate Desktop Underwriter® (DU®) Messages in DU® to deliver the HomeReady Special Feature Codes (SFCs) 900 and 884. Loan Delivery will have new Edits 2147 and 2148 to enforce eligibility for delivering loans under the temporary policy.

This credit will be effective for whole loans purchased (“Purchase Ready” status in Loan Delivery) on or after Mar. 1, 2024 to Feb. 28, 2025 and for loans delivered into MBS with issue dates on or after Mar. 1, 2024 to Feb. 1, 2025.

Learn more about the HomReady VLIP enhancements: Lender Letter (LL-2024-01) & HomeReady (VLIP) LLPA Credit Job Aid.

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

• 4 new fatal edits for HomeReady VLIP LLPA Credit (see HomeReady VLIP section above)
• 3 warning edits to validate Note Rate will move to Fatal (added Jan 22)

In support of the recent updates announced for the Mission Index, Fannie Mae is enhancing Loan Delivery with data to help lenders optimize MBS pooling based on Mission Index values.

The new Mission Index values – Mission Criteria Score and Mission Density Score – will be added under a new Mission Index section within the Pool Statistics tab on the Pool Details screen. For Fannie Majors® pools, the scores displayed apply to the Major piece and not the entire Major pool.

The Loan Level Data CSV Export file will be updated to add the Loan Mission Score, Mission Density Score, and Mission Criteria Score values to the end of the report.

Note: The update to the Mission Index Methodology will be effective on March 1, 2024.
Before March 1: The Mission Index scores displayed in Loan Delivery before March 1 are indicative. Any loans closed/purchase ready before March 1 will use the prior version of the methodology.
On/after March 1: All loans that run package edits on/after March 1 will receive the Mission Index values based on the new methodology. To receive scores based on the new methodology, for the loans in Loan Delivery submitted prior to March 1 but not yet closed/purchase ready, you must click “Run and Save Edits”.

Beginning on March 25, 2024, lenders will no longer be required to add Special Feature Code (SFC) 874, Duty to Serve LLPA Waiver, to loans at the time of delivery. Loan Delivery will validate when loans are eligible for the LLPA waiver and automatically populate the SFC on the loans.

To support the first implementation of ULDD phase 5, Loan Delivery will introduce

• User Interface (UI) changes
  • New “Buydown Amount” field on the user interface (UI) on the Loan Details page in the Closing Cost section
  • New “Servicing Transfer Effective Date” field on the user interface (UI) on the Loan Details page in the General Loan Information section
• Edit updates
  • New informational edits around Appraisal and Buydown Amount (Note: These edits are not displayed on the UI. Informational edits can be viewed on the “Edits CSV” export prior to loans being submitted. Download the “Edit History CSV” export in Loan Delivery to view the edits)
  • Updates to some existing edits around Appraisal
• File Validation Rule updates
  • New file validation rule WN3760 fires when new ULDD phase 5 datapoints are submitted prior to implementation date. See the ULDD Phase 5 Specification Release Notes for details on implementation timelines.
  • New file validation rule, WN3765, to ensure data integrity around Buydown amounts
  • Update existing file validation rules WN3380, WN3390, WN3270, and WN3280 to ensure data integrity around Servicing transfer date, Appraisal, and Buydown

See the Loan Delivery Business Rules for a listing of edits, users can filter on the Sub-category (Column J) and search ULDD Ph. 5, the edits listing will be updated March 4, 2024.

These edits will be available in the Loan Delivery Test Environment to accommodate lender testing.

For more information, see the ULDD webpage.

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

• Edit updates to support ULDD Phase 5, see above for details
• New warning edits for down payment type and amount

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

• Modify 2 Credit Score edits
• 1 new warning edit to validate CPM ID

Effective May 1, 2024, to mitigate fraud risk, Fannie Mae will be calling the authorized representative who signed the Seller’s Designation of Wire Transfer Instructions (Form 482) request to confirm validity prior to processing. Form 482 and the Selling Guide will be updated to reflect this requirement.

Effective May 1, 2024, to mitigate fraud risk, Fannie Mae will be calling the authorized representative who signed the Seller’s Designation of Wire Transfer Instructions (Form 482) request to confirm validity prior to processing. Form 482 and the Selling Guide will be updated to reflect this requirement.

Effective May 4, 2024 Loan Delivery will extend its scheduled maintenance period each weekend due to ongoing maintenance. The previous downtime window from 5 p.m. Eastern Time (ET) on Saturday to 8 a.m. ET on Sunday will now be from 8 a.m. ET on Saturday to 8 a.m. ET on Sunday each weekend.

To further support the Single-Family Mission Index, a Social Indicator will be added for each MBS Pool in Loan Delivery to designate if the MBS is eligible for a Social label. The Social Indicator will be "Y" if the Mission Criteria Share percentage is 100% and the Mission Density Score is at least 2.00; otherwise, the Social Indicator will be "N". For Fannie Majors pools, the scores displayed apply to the Major piece and not the entire pool. The Social Indicator field will be added to the Pool Statistics tab on the Pool Detail screen. See job aid for details at https://singlefamily.fanniemae.com/media/document/pdf/loan-delivery-mission-index-job-aid

Notte: MBS pools submitted before May 20, 2024, may not display the correct Social Indicator. The Social Indicator applies to all MBS pools submitted on or after May 20, 2024.

Learn more about the Mission Index: Mission Index Overview | Fannie Mae

Note: To view the loan-level Mission Index scores prior to loan closing, log in to Fannie Mae Connect and search for “Loan-Level Mission Score Dashboard”.

To ensure data integrity, Loan Delivery will begin validating that the data provided in Condo Project Manager (CPM) matches the data provided in Loan Delivery.

New edits will validate that the following datapoints match:

• Project Name
• Property State
• Legal Structure
• Manufactured Housing

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

• 6 new edits to validate Property Data – CPM (1 informational, 5 warning)
• 1 new informational edit to validate appraisal data
• 3 edits moving to warning for Credit Score