Seller/Servicer-Initiated Post-Purchase Adjustments

1 2020 Fannie Mae Page 1 of 3 Seller/Servicer-Initiated Post-Purchase Adjustments Updated as of June 3, 2020 If you find there is a discrepancy between data attributes submitted at the time of delivery to Fannie Mae and your loan records, a Post-Purchase adjustment (PPA) may be required. Refer to this job aid for steps to complete the PPA process. PRIOR to PPA Submission: Step 1. Research the discrepancy. Review your records ( , Fannie Mae funding notification Purchase Advice, Mortgage Note, etc.) Compare Fannie Mae s loan-level records with your records to determine the scope and cause of the discrepancy. Step 2. Determine if the data correction can be completed in the following Servicing applications vs. PPA process. Loan Servicing Data Utility (LSDU) to access accurate, near real-time, loan-level data and data exceptions.

2 ( Housing Goal attributes, former ADE attributes) servicer 's Reconciliation Facility (SURF) ( Seller/ servicer loan number, Property Address) PPA Submission: Step 1. Assemble documentation that supports your requests. Complete the Post Purchase Adjustment Form For instructions how to complete the PPA form, click Here Provide supporting Documentation to validate your PPA per the Data Change Rules Matrix The supporting documents should contain the Fannie Mae loan number and name of the document in the file name ( NOTE: 0123456789_MI Certificate). The Data Change Rules Matrix outlines the documentation requirements at the attribute necessary to submit with your request. Step 2. Encrypt all documents containing Nonpublic Personal Information (NPI). Step 3. Email the completed PPA Request Form, required supporting documentation, and a detailed explanation of your request.

3 Provide 5-digit Seller/ servicer number in Subject line or body of email Provide Fannie Mae loan number in Subject line or body of email Sellers/Servicers: Send all servicing and non-servicing related PPA requests for Servicing attributes and Special Feature Code (SFC) changes to the Post Purchase Adjustments mailbox If you have been contacted by Fannie Mae staff regarding a PPA, continue to work with them directly. 2020 Fannie Mae Page 2 of 3 2020 Fannie Mae Page 3 of 3 AFTER Submission: Review the completed Post-Purchase Adjustment Notification report, available in Fannie Mae Connect - Post Purchase Adjustment Notification, for adjustment details. In FM Connect go to Report Center > Pricing and Execution > Post Purchase Adjustment Notification Report Corrective action resulting from your requested Post-Purchase adjustment may result in a loan-level price adjustment (LLPA), thus entitling you to an LLPA Refund/Draft.

4 Please ensure that you have a designated account for Automated Clearing House (ACH) processing per your 1072 Cash Processing Form. Please ensure that sufficient funds are available in that account prior to the scheduled draft date (as indicated in the Committing and Delivery Fee Draft Notifications in Fannie Mae Connect). Whole Loan LLPA drafts or refunds will occur within 3 to 5 business days after the Post-Purchase Adjustment Notification has posted to Fannie Mae Connect. Mortgage Backed Security (MBS) LLPA draft or refunds will occur on the 5th business day of the following month. If corrective action results in a loan being ineligible for delivery to Fannie Mae, your Fannie Mae Relationship Manager will contact you to determine the next necessary steps. NOTE: Processing time for most Post-Purchase adjustment requests, from initial submission through data correction, is 10 business days.

5 Certain requests may require additional levels of review, or additional documentation from the lender, and/or approval(s) that require additional time to process.