Investor Delivery Screen

Forms & Docs > Investor Delivery

 

The Investor Delivery screen is used to capture additional Investor information pertinent to the upload of a ULDD file. This screen is split into three sections; All Properties and Loan Types, ULDD- Project Details and ULDD- Loan Details.

 

The Investor Delivery Screen will become populated with the Type of Purchaser value from the loan's Investor Lock screen. If the Type of Purchaser is Fannie Mae, the Fannie Mae logic will apply to the Special Feature Codes. Otherwise, Special Feature Codes and Mornet Case ID logic will not be required.

 

The Payee Code is a nine-digit number used to indicate that purchase precedes for a cash delivery are to be sent to a specific warehouse or transfer bank.

 

The Last Paid Installment date is an eight-digit date (in CCYYMMDD format) that indicates the due date of the last paid installment that was collected for the mortgage at the time of delivery. Any date including a day other than "01" will be converted to the first day of the following month for editing purposes.

 

The First Payment Change date is an eight-digit date (in CCYYMMDD format)that indicates the date when the monthly payment for an adjustable-rate mortgage, a graduated-payment, a growing-equity mortgage, a step-rate mortgage or an interest only mortgage will first change. This field is required if the loan's amor­tization type is 03, 04, 06, 07 or 09. If a MBS pool mortgage is an "interest only" mortgage, this date must equal the date of the first payment. This field is calculated once the closing information has been entered (first payment date + ARM Initial Adjustment Period [on the Other Data tab in the 1003]).

 

The First Rate Change date is an eight-digit date field (in CCYYMMDD format) that indicates the date when the mortgage interstate is subject to change for the first time. This field is required for a cash delivery if the amortization type is 06, 07 or 09; it’s also required for an MBS pool delivery if the amortization type is 03, 05, 06 or 09. This field will become populated once the loan's closing information has been entered. The ARM Adjustment Type can be listed as a payment or rate in the system (DocuPrep only supports rate change). The First Rate Change Date will populate regardless of the selection of payment or rate.

 

The First Payment Change Date and the First Rate Change Date are editable fields when the loan is an FHA ARM.

 

The Document File Identifier is a ten-digit alphanumeric data entry field that will populate on the FNMA200-­Character Mornet Export.

 

The Borrower Credit Score ID drop-down menu will become populated based on the company that the Com­posite score was pulled from (Equifax Beacon, TransUnion Emperica, Experian or Not Available).

 

The Co-Borrower Credit Score ID drop-down will become populated based on the company that the Com­posite score was pulled from (Equifax Beacon, TransUnion Emperica, Experian or Not Available), if appli­cable.

 

The Commitment# is the same number as the Contract No. on the U/W Transmittal.

 

The mortgage information can be selected from the available drop-downs.

 

The Special Feature Codes from the DO/DU findings will be displayed above the manually entered Special Feature Codes section (these should be disabled). Refer to the following while completing the Special Fea­ture Codes section:

 

If the DO/DU is run in Avista and the Originator DO/DU drop-down selection is No with the associated DU ID/PW, then 127 will always appear in the Special Feature Codes section (the Lender delivering the loan to Fannie Mae is the same Lender that underwrote the loan through DO/DU).

 

If the DO/DU is run in Avista and the Originator DO/DU drop-down menu selection is Yes with the associated DU ID/PW, then 214 will always appear in the Special Feature Codes section (the Lender delivering the loan to Fannie Mae is not the same Lender that under­wrote the loan through DO/DU).

 

SFCs from the DO/DU Findings will appear in the Special Feature Codes section when the Lender clicks on Copy SFC from Findings (with the exception of the codes 127/214 -see above).

 

Each time DO/DU is submitted, the Special Feature Codes populated from the findings will be updated and the Lender will have to click on Copy SFC from Findings if he or she wants the codes updated in the Special Feature Codes section.

 

If the Lender manually entered any Special Feature Codes and then clicks on Copy SFC from Findings, he or she will have to re-enter the codes manually.

 

Alphanumeric Special Feature Codes are permitted for Freddie Mac.

 

Below the Special Feature Codes section, number of Bedrooms and Eligible Rents fields will allow for up to 4 units to be listed and up to 9 bedrooms per unit. This data point is required for a subject property that has been valued by an appraisal, either if the property is for investment purposes or if it has more than one dwelling unit. The number of bedrooms in each dwelling unit financed by the Mortgage should be captured. If only one unit is being financed as an investment, then the number of bedrooms for that unit should be delivered. If two or more units are being financed, then the number of bedrooms for each unit should be delivered.

 

EXCEPTION: If the unit is a studio or efficiency apartment, then “0” should be entered as the number of bedrooms.

 

The Down Payment Assistance drop field is located to the right of the Eligible Rents section. This drop field allows for the detailing of down payment assistance by either choosing one of the two options; Borrower Received Gift for Down Payment Assistance or No Gift Assistance.

 

The ULDD Project Details section contains references particular to both Fannie Mae and Freddie Mac Loans. Fields present will be particular to the Base 1003 Format Selection.

 

Project Legal Structure Type specifies the current state of the condominium project. This field will only be available if it is a Freddie mac Loan. The Values for this field will be represented in a drop-down with the “Condominium”, “Cooperative” attributes available.

 

Condominium Project Status Type, ULDD Defines this field as: “Specifies the current state of the condominium project.

 

This Field will only be available if the loan is a marked as a condo in the 1003> Property Tab for Fannie Mae loans. If the loan is a Freddie Mac loan, this field will appear if the Project Legal Structure Type is chosen as a Condo. The UW Transmittal> CPM Project ID must also be blank for this field to be visible.

 

The values for this field will be represented in a drop-down with the following attributes available: Established, New.

 

Project Attachment Type, ULDD Defines this field as: “Specifies the type of physical attachment, if any, between the dwelling units in the project.”

 

This Field will only be available if the loan is a marked as a condo or a Co-op in the 1003> Property Tab for Fannie Mae loans. If the loan is a Freddie Mac loan, this field will appear if the Project Legal Structure Type is chosen as a Condo or Co-op. The UW Transmittal> CPM Project ID must also be blank for this field to be visible.

 

The values for this field will be represented in a drop-down with the following attributes available: Attached, Detached.

 

Project Classification Identifier

ULDD defines this field as: “Identifies the type of project or condominium classification for the subject property and its associated review.”

This field will be available if the loan is a Freddie Mac loan and the Mortgage Type is set to Conventional.

The values for this field will be represented in a drop-down with the following attributes available:E,F,G,P,Q,R,S,T,U,V,1,2.

 

Project Design Type

ULDD Defines this field as: “This field specifies the type of design for the multiple-unit buildings in a project.”

This Field will only be available if the loan is a marked as a condo or a co-op in the 1003> Property Tab for Fannie Mae loans. If the loan is a Freddie Mac loan, this field will appear if the Project Legal Structure Type is chosen as a Condo or Co-op. The UW Transmittal> CPM Project ID must also be blank for this field to be visible.

The values for this field will be represented in a drop-down with the following attributes available: Garden Project/ Low-rise Project, High-rise Project, Midrise Project.

 

Project Dwelling Units Sold

ULDD Defines this field as: “Total number of individual dwelling units in the project.”

This Field will only be available if the loan is a marked as a condo or a co-op in the 1003> Property Tab for Fannie Mae loans. If the loan is a Freddie Mac loan, this field will appear if the Project Legal Structure Type is chosen as a Condo or Co-op. The UW Transmittal> CPM Project ID must also be blank for this field to be visible and the Project Attachment Type must be set to Attached.

The values for this field will be represented in a drop-down with the following attributes available: 1,2,3,4.

 

Attachment Type

ULDD Defines this field as: “Specifies the type of physical attachment, if any, between the dwelling unit and adjacent dwelling units.”

The values for this field will be represented in a drop-down with the following attributes available: Attached, Detached, Semi-Detached (A property with 2 units sharing a wall)

 

Construction Method

ULDD Defines this field as: “Describes the construction process for the main dwelling unit of the subject property.”

The values for this field will be represented in a drop-down with the following attributes available: Manufactured, Modular, Site Built

 

Property Valuation Method Type

ULDD defines this field as: “Specifies the method by which the property value was assessed.”

The values for this field will be represented in a drop-down with the following attributes available: Automated Valuation Model, Desktop Appraisal, Drive By, Full Appraisal, Non, Prior Appraisal Used.                                                                                                                                                                  

 

AVM Model

ULDD Defines this field as: “The name of the AVM model used to calculate the valuation of the subject property.”

This field will be available if Automated Valuation Model was chosen for Property Valuation Method Type.

The values for this field will be represented in a drop-down with the following attributes available: Automated Property Service, Casa, Fidelity Hansen, Home Price Analyzer, Home Price Index, Home Value Explorer, Indicator, Net Value, Other, Pass, Property Survey Analysis Report, Value Finder, Value Point, Value Point4, Value Point Plus, Value Share, Value Wizard, Vero Index Plus, Vero Value.

 

Appraisal Document File ID

ULDD Defines this field as: “A unique identifier assigned by a party for all appraisal data delivered to the party for this loan.”

This field will only be visible if the user has not completed a UCDP transaction in the MortgagebotLOS, as the Document File ID would already be assigned to the loan.

If UCDP transaction has not occurred, then the field will allow for up to 10 characters

 

Inspection Date

ULDD defines this field as: “Effective date of the property valuation on the subject property.”

This date field will be made visible if the Property Valuation Method Type is set to “None”.

 

Loan Details Section

The following fields will be added to the Investor Delivery Screen> Loan Details Section:

 

Index Source

ULDD Defines this field as: “Specifies the type and source of index to be used to determine the interest rate at each adjustment. “

This field will only be made visible when the Amortization Type is set to an ARM.

 

Convertible

ULDD Defines this field as: “Indicates that the loan has a convertible characteristic.”

The values for this field will be represented in a drop-down with the following attributes available: Yes, No.

 

Loan Affordable

ULDD Defines this field as: “When true, indicates that the loan is classified as an affordable loan by the lender or the investor.”

The values for this field will be represented in a drop-down with the following attributes available: Yes, No.

 

Relocation Loan

ULDD Defines this field as: “Indicates if the loan is part of a corporate relocation program.”

The values for this field will be represented in a drop-down with the following attributes available: Yes, No.

 

Shared Equity

ULDD Defines this field as: “Indicates the mortgage is for resale-restricted, owner-occupied housing in which the rights, responsibilities, and benefits of residential property ownership are shared between individual homeowners and another party representing the interests of a larger.”

This field will be available if the loan is a Freddie Mac loan.

The values for this field will be represented in a drop-down with the following attributes available: Yes, No.

 

Investor Ownership Percent

ULDD Defines this field as: “Identifies the percentage amount of the loan owned by the investor.”

This field will be defaulted to 100%.

 

Investor Remittance

ULDD Defines this field as: “This describes the contractual accounting method used to calculate the funds received by the servicer from the borrower that are due to the investor.”

The values for this field will be represented in a drop-down with the following attributes available: Actual Interest Actual Principal, Scheduled Interest Actual Principal- Default to This Value, Scheduled Interest Scheduled Principal

This field will default to Scheduled Interest Scheduled Principal.

 

Investor Remittance Day

ULDD defines this field as: “The day of the month on which principal and interest for the loan are remitted by the servicer to the investor.

This will be a new date field.

 

Loan Acquisition Scheduled UPB

ULDD Defines this field as: “The scheduled unpaid principal balance of the mortgage as of loan acquisition or the issue date of the associated security.”

This will be a new data entry field for the UPB Amount.

 

Loan Default Loss Party

ULDD defines this field as: “Indicates the party that bears the default loss for the loan.”

The values for this field will be represented in a drop-down with the following attributes available: Investor, Lender, and Shared

 

REO Marketing Party

ULDD Defines this field as: “Identifies the party responsible for marketing the property in case of default.”

The values for this field will be represented in a drop-down with the following attributes available: Investor, Lender

 

Current Interest Rate

ULDD Defines this field as: “The current interest rate, expressed as a percent, for this loan.”

This field will only be visible when the amortization type is set to an ARM.

This will hold up to two numbers before the decimal and four after.

 

Investor Contract ID

ULDD Defines this field as: “A unique identifier for a group of loans identified as part of a cash pool or a security pool.”

This will be a new user entry field holding up to 6 characters long.

 

Seller Loan ID

ULDD defines this field as: “A unique identifier assigned by the seller to the loan.”

This will be a new user entry field holding up to 15 characters long.

 

Primary MI Absence Reason

ULDD Defines this field as: “Specifies the reason that primary mortgage insurance is not required or provided.”

This field will only be made visible if PMI indicator on the Closing Docs > Loan Tab is marked “No”.

The values for this field will be represented in a drop-down with the following attributes available: MI Canceled Based on Current LTV, No MI Based on Original LTV, Other – There will be a corresponding description field for Other if Chosen.

 

Last Paid Installment Due Date

ULDD Defines this field as: “The due date of last paid installment that had been collected for the mortgage.”

This will be a new date field.

 

Counseling Confirmation Type

ULDD Defines this field as: "Specifies the type of mortgage counseling or education program attended by one or more of the borrowers.”

This field will only be made visible if the Loan Affordable Indicator is set to “Yes”.

The values for this field will be represented in a drop-down with the following attributes available: Government Agency, HUD Approved Counseling Agency, Lender Trained Counseling, No Borrower Counseling, Other– There will be a corresponding description field for Other if Chosen.

 

Counseling Format

ULDD defines this field as: "Identifies the educational setting of the formal borrower homeownership program in which the borrower participated as a requirement of a special mortgage program.”

This field will only be made visible if the Loan Affordable Indicator is set to “Yes”.

The values for this field will be represented in a drop-down with the following attributes available: Borrower Education Not Required, Classroom, Home Study, Individual, Other- Other Description Field if Chosen

 

Investor Product Plan Identifier

ULDD Defines this field as: "Specifies the investor identifier associated with the loan product being financed.”

This field will only be made visible when the amortization type is set to an ARM and will allow for the input of up to 5 characters.

 

Lender Paid MI Interest Rate Adjustment

ULDD Defines this field as: "The percentage added to the mortgage interest rate to fund lender-purchased mortgage insurance premiums.”

This field will be made visible when the MI is paid by the Lender. This will be denoted on the GFE/HUD Line 902 is Paid By "LENDER"

This field will support one number before the decimal and two after.