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First Lien Delivered with Subordinate Financing

NOTE: These fields are in the Other Financing Subordinate Financing section on the Loan Detail page. Select "Add Lien" to add additional liens. Submission of these fields is conditional and only required if a first lien mortgage with subordinate financing has been delivered.

Sort ID Field Name in Loan Delivery Details Drop-Down Values

511

HELOC Max Credit Line

 Enter the sum of the drawn and undrawn HELOC amounts as of the Note Date of the first lien. This is the maximum amount the borrower could draw if they exhausted the entire line of credit.   Note: Do not provide this data for closed-end subordinate liens.

 

512

HELOC Outstanding UPB

 Enter the drawn amount (outstanding UPB) of the HELOC as of the Note Date of the first lien. Enter "0" if the borrower has not drawn any funds against the available line of credit as of the Note Date.

Note: Do not provide this data for closed-end subordinate liens.

 

513

HELOC Indicator

 Select “Yes” if the subordinate lien is a HELOC. Select "No" if the subordinate lien is closed-end. No
Yes

513.1

Loan Affordable Indicator

 Select "Yes" if subordinate financing is a Community Seconds® loan; otherwise, select "No."

No

Yes

516

Current UPB

 Enter the balance of the closed-end subordinate lien as of the Note Date of the first lien.

Note: Do not provide this data for HELOC loans.

 

517

Lien Priority Type

 Select the value that indicates the priority of the lien against the subject property.
NOTES:
  • You may not report data for a third lien without also reporting data for the associated second lien.
  • You may not report data for a fourth lien without also reporting data for the associated second and third liens.
  • In the case where a subject property has more than three subordinate liens use the following instructions to include information about these liens in hierarchical order, as shown in the list below. Where needed, you may combine information for like loan types, as provided in the following descriptions:
    • Deliver all Community Seconds first
    • Followed by all HELOCs
    • Followed by all remaining Liens
    • Add details in Loan Comment Text (Sort ID 393) describing how you handled the subordinate liens included in your Loan Delivery file
 Second
Third
Fourth

519

Mortgage Type

 Select the value that describes the subordinate lien. 1 - FHA
2 - VA
3 - Conventional
4 - USDA Rural Housing

 

NOTE: Deliver Sort ID 91 – Combined LTV Ratio Percent (CLTV) for loans with any type of subordinate financing (HELOC or closed-end). Deliver Sort ID 92 - Home Equity Combined LTV Ratio Percent (HCLTV) if any subordinate financing associated with a loan is a HELOC.

NOTE: Refer to the Loan Delivery Business Rules Dictionary on fanniemae.com for information on the edits that will fire for these data points.

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