Post-Purchase Adjustments FAQs

Effective, July 1, Fannie Mae is making multiple enhancements to streamline and improve data integrity related to post-purchase adjustments (PPA):

• Eighty-one additional attributes will be available for post-delivery correction. This expansion will now encompass all ULDD fields (Refer to Appendix)
• Documentation requirements will be updated on new and existing attributes and posted July 1st.
• The PPA template form will be updated on July 1st to reflect the new correctable attributes. Defined attributes will require a selection of dropdown fields in the TO/FROM column.
• Expanded business rules will be added in the self-service web based PPA tool
• Transaction 82 will be retired; material address changes must be submitted using the existing PPA process.
• Enhancements to the Fannie Mae Connect - Post Purchase Adjustment Notification report will provide greater transparency for Loan Level Price Adjustments

Documentation requirements can be found on the Seller/Servicer-Initiated Post-Purchase Adjustment page under Key Resources - PPA Data Change Rules. In addition, once the PPA template form is completed and uploaded into the web-based form, the documentation requirements per attribute will be displayed.

New business rules alerting of  incorrect date formats, inclusion of special characters, and incomplete documentation requirements will need to be corrected before submitting the PPA request.

Training materials, including job aids, e-learnings, and other guidance, can be found on the Seller/Servicer Initiated Post Purchase Adjustment page. 

Effective July 15th, Fannie Mae Connect - Post Purchase Adjustment Notification Report will provide transparency on LLPA Fees impacted by data corrections.

• Adjustment Code will display breakdown of individual LLPAs along with Adjustment From Amount, To Amount, and Net Amount for both Cash and MBS loans
• Adjustment Code “MBS LLPA Total” renamed to “MBS Total LLPA”
  Adjustment Code “Loan Level Price Adj Amount (total)” renamed to “WL Total LLPA”
• Breakdown of LLPAs will be available for:

Cash loans delivered after July 15th and corrected via post-purchase adjustment process
MBS loans with Pool Issue of July 1st and after and corrected via post-purchase adjustment process
For loans not meeting above criteria only LLPA Totals will be available on the Report

Beginning July 10, 2023, Transaction 82 will no longer be accepted.

As per Servicing Guide Announcement (SVC-2023-02) published April 12, servicers must follow the existing post-purchase adjustment process to update a property address. With this change, all updates to resolve discrepancies between data attributes submitted to Fannie Mae at the time of loan delivery and the servicer’s loan records will now follow one consistent process.

Discrepancies related to property address containing one or more of the following must be submitted via the post purchase adjustment process:

• The renumbering or renaming of streets
• Changing an address from a lot and block description to a house number and street
• Changing ZIP codes because of postal realignments
• Addition, removal, or correction of a unit number
• City changes
• Changing of a state
• Street number or street name
• Postal code

No, these adjustments are corrected through the address standardization process at delivery.

Property addresses provided at the time of delivery can be located on Seller or Servicer Purchase Advises.

Appraisal or Security Deed.

Corrections to property address will not be processed causing misalignment between Fannie Mae and Seller/Servicers systems of records.