Seller/Servicer-Initiated Post-Purchase Adjustment FAQs

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.

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. (i.e., enter $1234.56 as 1234.56).
• Dates must be entered in MM/DD/YYYY format. Change cell format to "Text" to ensure update.
• Special Feature Codes must be entered as three-digit numbers, i.e., 019 instead of 19 and 003 instead of 3. Change cell format to "Text" 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.
• Fannie Mae Loan Number must not be left blank.
• To add a Special Feature Code, enter the code in the "Adjustment To" column and leave the "Adjustment From" field blank
• To remove a Special Feature Code, enter the code in the "Adjustment From" column and leave the "Adjustment To" field blank
• Addition and removal of Special Feature Codes must be entered in separate rows

Priority requests are reserved for Business Days 1 and 2 only and must be submitted by the last business day of the month. Requests submitted after 10 a.m. ET on Business Day 2 will not be processed by cycle close.

For priority requests, submit a PPA Request Form through LSDU with “Priority” entered in the Submitter Comments field and supporting loan details populated. Do not use punctuation or special characters.

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).

For requests with more than 50 attributes (i.e., separate rows on the PPA Request Form), email [email protected] for specific submission instructions.

Yes, after uploading the PPA Request Form, the supporting documentation requirements for each attribute will be displayed, except for Special Feature Codes that are not on the PPA Data Change Rules Matrix. These requirements can also be found on the Seller/Servicer-Initiated Post-Purchase Adjustment page under Key Resources - PPA Data Change Rules.

Use the following naming convention for each supporting document: FM Loan No._Document Name.pdf (i.e., 1234567890_Final1003)

NOTE: The document size cannot be greater than 3MB. If the document size is greater than 3MB, upload the document to BOX or contact [email protected]

A PPA request can be submitted to add/remove a non-published special feature code that is not on the PPA Data Change Rules Matrix by contacting [email protected]

PPA requests for S/S MBS loans delivered to FNMA in the current month must be submitted on the first business day of the following month. PPA requests for non-MBS loans can be submitted in the month of delivery to FNMA.

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

NOTE: There is a $100 minimum (credit or debit) threshold for PPA loan-level price adjustments. There is an 18-month lookback period (from the date of acquisition) for all post-purchase adjustments of loan-level price adjustments. The 18-month lookback period does not apply to the drafting or collection of repurchase alternative fees. Post-purchase data corrections do not 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.

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
• House number change
• Street number or street name changes, including renumbering or renaming
• Unit number addition, removal, or correction
• City change
• State change
• Postal code change

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.

Effective July 21^st, 2025, borrower credit score updates must be submitted using the FICO4 Borrower Credit Score attribute. The borrower number must be identified using Scheduled Sequence Number 1- 4. When borrower credit scores are updated, the FICO4 Loan Rep Credit Score attribute must be included in the submission if the representative credit score is impacted.

Effective July 21st, 2025, data changes to credit reporting agencies must be submitted by using the FICO4 Borrower Credit Score Source Type and selecting the appropriate reference value from the drop down on the PPA Form. The borrower number must be identified using Scheduled Sequence Number 1- 4.

No, you should submit your response directly to the Data Validation Center within Loan Quality Connect. The Data Validation Center will submit any necessary adjustments on your behalf.

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