Seller/Servicer-Initiated Post-Purchase Adjustment FAQs

You can submit a PPA Request Form with “Priority” entered in the submitter comments section and enter supporting details. Don’t use punctuation or special characters.

NOTE: Priority requests are reserved for Business Day 1 and 2 only. Requests submitted after 10 a.m. ET on Business Day 2 will not be processed by cycle close.

The “P&I Amt” adjustment code should be used only to correct the P&I Amt as of the acquisition date.

The “Current Payment” adjustment code should be used with an effective date after a periodic ARM change or large borrower principal curtailment (recast over remaining term).

Make sure you use the correct reference value and data format, including the following:

• Percentages in decimal format (i.e., enter 25% as 0.25).
• Dollar amounts in XXXX.XX format, without dollar signs ($) or comma (,) separators.
• Dates in MM/DD/YYYY format – entered as “Text” format to ensure update.
• Use an allowable reference value selected from the dropdown for adjustment codes with enumerated data types. Refer to Enumerations Tab of the PPA Data Change Rules Matrix for more details.
• No blanks in Fannie Mae loan number or in “Adjustment To” or “Adjustment From.”

NOTE: If the data format or values aren’t correct, the PPA Request Form will NOT upload.

If you have more than 50 attributes (i.e., separate rows on the PPA Request Form), send an email to [email protected] for specific submission instructions.

Yes; after you upload the PPA Request Form, the supporting documentation requirements for each attribute will be displayed. Also, these requirements can be found on the Seller/Servicer-Initiated Post-Purchase Adjustment page under Key Resources - PPA Data Change Rules. Remember to follow this naming convention: FM Loan No._Document Name.pdf

The Fannie Mae Connect Post-Purchase Adjustment Notification Report provides transparency on Loan-Level Price Adjustment (LLPA) Fees impacted by data corrections.

Adjustment Codes “MBS Total LLPA” and “WL Total LLPA” will display individual price adjustments for MBS and Cash loans, respectively, alongside Adjustment From Amount, Adjustment To Amount, and Adjustment Amount (the net amount of the LLPA).

Note: There is a $100 minimum (credit or debit) threshold for PPA loan-level price adjustments. The 18-month lookback period doesn’t apply to the drafting or collection of repurchase alternative fees. However, PPAs for data corrections don’t have a lookback period or threshold. For further details, see Selling Guide, C-1-2-02, Loan Data and Documentation Delivery Requirements, and C2-2-05, Whole Loan Purchasing Process.

The PPA process must be used to resolve all discrepancies between the servicer’s records and the data attributes submitted to Fannie Mae at loan delivery. Refer to Servicing Guide Announcement (SVC-2023-02) published Apr. 12, 2023.

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

Property address changes containing one or more of the following revisions are considered “material” and require a PPA request to resolve the discrepancy:

• Address change from a lot and block description to a house number and street
• City change
• House number change
• Postal code change due to postal realignments
• State change
• Street number or street name changes, including renumbering or renaming
• Unit number addition, removal, or correction

Servicers must submit a Mortgage Deed of Trust, Security Deed or Tax Assessor Record.

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

The property address of record can be found in Loan Servicing Data Utility (LSDU). Using the Loan Data Search tab, enter the Fannie Mae or Servicer loan number, and click “Get Loan Data.” Click the Origination and Acquisition section on the left and scroll to the bottom to see the property address.

Training materials, including job aids, eLearning tutorials, and other guidance can be found on the Seller/Servicer Initiated Post-Purchase Adjustments homepage.