source:
  type: guide
  id: fnma-sel-c2-2-05
  authority: Fannie Mae Selling Guide C2-2-05 — Whole Loan Purchasing Process
  description: Fannie Mae Selling Guide C2-2-05 — Whole Loan Purchasing Process.
  coverage_tier: operative
obligations:
- id: fnma-sel-c2-2-05-full
  canonical_id: fnma-sel-c2-2-05-full
  section: Fannie Mae Selling Guide C2-2-05 — Whole Loan Purchasing Process
  type: do
  tags:
  - regulator-direct
  - fnma
  - selling-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Fannie Mae Selling Guide C2-2-05 — Whole Loan Purchasing Process
    source_class: fnma-guide
    source_url: https://singlefamily.fanniemae.com/media/document/pdf/selling-guide
    snapshot_id: 5f7b8b79da595d76
    fetched_at: '2026-05-25T14:09:57Z'
    content_hash: sha256:98cf85a02861bbe84914a0e339b327c8fc131869a8a573882007bbeea60c5701
    paragraph_quote: 'C2-2-05, Whole Loan Purchasing Process (10/04/2023) Introduction
      This topic provides information on the process Fannie Mae uses to notify the
      lender (and the servicer, if the lender is not servicing the loan) of a whole
      loan purchase, including: Notiﬁcation to Lender of Purchases of Regularly Amortizing
      Mortgages Contents of the Purchase Advice Reconciliation of Purchase Advices
      and After Sale Corrections to Whole Loan Disbursements Submission of Mortgage
      Record Change to HUD for FHA Mortgage Purchases Notiﬁcation to Lender of Purchases
      of Regularly Amortizing Mortgages Lenders can access the following documents
      in Fannie Mae Connect: a seller’s Purchase Advice to detail Fannie Mae’s disbursement
      of the purchase proceeds, and a report to summarize the lender’s purchases for
      each whole loan commitment. Servicers can obtain a Purchase Advice to provide
      the information necessary for its accounting records for the mortgages that
      it is servicing on behalf of a lender. Published May 6, 2026 971 Contents of
      the Purchase Advice The Purchase Advice will contain the following information:
      each loan, identiﬁed by a Fannie Mae loan number (which the servicer should
      enter into its records immediately because it must be used in reporting all
      subsequent activity related to the mortgage to Fannie Mae); details about the
      loan purchase, including loan information, price adjustments, and purchase proceeds;
      and a report with the applicable payee code for each wire transfer request.
      The Purchase Advice will be available on the business day Fannie Mae funds the
      purchase proceeds. Reconciliation of Purchase Advices and After Sale Corrections
      to Whole Loan Disbursements The lender should examine each Purchase Advice it
      receives and reconcile the advice to its books and records to ensure that any
      transfer of funds is properly credited to the lender’s designated bank. Fannie
      Mae expects lenders to have appropriate controls and procedures in place to
      perform timely and accurate reconciliations of the transfers of funds for all
      whole loan deliveries. The lender must submit a post-purchase adjustment request
      to provide notice of any error, omission, or irregularity in the transfer of
      funds or in processing the request for the repetitive transfer within 30 days
      of the date of the Purchase Advice. Otherwise, Fannie Mae will assume that the
      information on its Purchase Advice is correct. If the lender believes the amount
      disbursed is incorrect, it can request an adjustment by following the instructions
      provided in Seller/Servicer-Initiated Post-Purchase Adjustments. The request
      must include the following: the lender’s nine-digit Fannie Mae seller/servicer
      number, the ten-digit Fannie Mae loan number, the Post-Purchase Adjustment Request
      form, and applicable documentation. See Seller/Servicer-Initiated Post-Purchase
      Adjustments in C1-2-02, Loan Data and Documentation Delivery Requirements for
      additional information. Submission of Mortgage Record Change to HUD for FHA
      Mortgage Purchases Published May 6, 2026 972 After the lender receives notiﬁcation
      that Fannie Mae has purchased a regularly amortizing FHA loan for its portfolio,
      the lender must complete a Mortgage Record Change (HUD Form 92080) and submit
      it to HUD through FHA Connection. For notiﬁcations to FHA, lenders will also
      need to include Fannie Mae’s Mortgagee Number 950010999 on the form. Only the
      ﬁrst ﬁve digits of this number are required if submitting the HUD form through
      FHA Connection. Note: Fannie Mae is not currently purchasing FHA loans. Recent
      Related Announcements The table below provides references to recently issued
      Announcements that are related to this topic. Announcements Issue Date Announcement
      SEL-2023-09 October 04, 2023 Announcement SEL-2022-04 May 04, 2022 Announcement
      SEL-2021-01 February 03, 2021 Announcement SEL-2019-09 December 04, 2019'
  judgment: false
