How to Manage Repurchase/MakeWhole Requests

The Repurchase/MakeWhole section of the Main Menu screen features the following links to

preset queries on the different types of repurchase issues:

All Repurchase/MakeWhole Requests -– Returns a list of all loans that have a review

status of Lender Action Requested, Lender Concurred and Lender Rebutted.

Open Repurchase/MakeWhole Requests -– Returns a list of all loans with a review

status of Lender Action Requested.

Bulk Concur -– Displays a list of loans that Fannie Mae has requested

Repurchase/MakeWhole. This provides lenders the ability to concur with Fannie Mae’s

request for Repurchase/MakeWhole on one, multiple, or all loans in the list.

Concurred Repurchase/MakeWhole Requests -– Returns a list of all loans with a review

status of Lender Concurred (i.e., the lender has agreed with Fannie Mae’s

Repurchase/MakeWhole Request by clicking on the Concur button).

Rebutted Repurchase/MakeWhole Requests -– Returns a list of all loans with a review

status of Lender Rebutted.

Figure 1: Main Menu - Repurchase/MakeWhole Requests

© 2014 Fannie Mae. Trademarks of Fannie Mae. 12.15.2014 2

Common Features for Repurchase/MakeWhole Requests

The five hyperlinks listed under the Repurchase/MakeWhole Requests section have these

features in common.

1. Search Criteria

2. Reports

a. Report Headings – Each search result screen will display a report heading, the datethe report is run, and the report purpose.

Common Features for Repurchase/MakeWhole Requests (continued)

In the Search Criteria

section, preset queries

will display a maximum

of 2500 records only.

However, the Export

to Excel function will

display up to 10,000

records. The user can

narrow the search

results displayed on

the screen by using the filter options.

Figure 2: Search Criteria – Export to Excel

Figure 3: Reports – Report Heading

Each of the hyperlinks in the Repurchase/MakeWhole Requests menu will return the

same data elements. These data elements are provided at the end of this document.

© 2014 Fannie Mae. Trademarks of Fannie Mae. 12.15.2014 3

Common Features for Repurchase/MakeWhole Requests (continued)

b. Sort Order – By default, reports are sorted in order by Fannie Mae Loan Number. By

clicking on any column heading, a user can perform a single sort. Multiple sorts (sort by x and y) can be accomplished by exporting the report in an Excel format.

3. Loan Review Type , Loan Review Status, Selection Reason Description and Status

Change From, To and Date

Figure 4: Reports – Report Column Headings

The Loan Review Type

and Loan Review Status

fields are displayed in the

Loan Review Information

section. The eight Loan

Review Types are identified

at the end of this document.

When Fannie Mae selects a

loan for either one of the

two selection reasons

below, the Selection

Reason Description field

will be populated with the

appropriate description.

Voluntary Repurchase

Lender Self-Reported

QC Issue

Status Change: Users can view the Status Changed To, Status Changed From, and Status Change Date in the Loan Information section.

Figure 5: Loan Review Details – Loan Review Information

Note: Voluntary Repurchase and Lender Self-Reported QC Issues are typically brought to Fannie Mae’s attention by the lender. They are provided here so that the user is aware that Fannie Mae has selected this loan based on the information provided by the lender.

© 2014 Fannie Mae. Trademarks of Fannie Mae. 12.15.2014 4

Common Features for Repurchase/MakeWhole Requests (continued)

Provided below is information regarding two specific column headings featured on the reports

within the All Repurchase/MakeWhole Requests category. These columns help users to

manage aged loan files.

The Age Since LAR Notification is the number of days between when the initial

notification was sent, and the current system date.

The Age Since Status is the number of days between when the last review status

change occurred, and the current system date.

Figure 6: Repurchase/MakeWhole Requests – Column Headings

© 2014 Fannie Mae. Trademarks of Fannie Mae. 12.15.2014 5

All Repurchase/MakeWhole Requests

The All Repurchase/MakeWhole Requests displays all open loans where a Repurchase/

MakeWhole request has been issued by Fannie Mae. This includes all open loans that have a

review status of Lender Action Requested, Lender Concurred, and Lender Rebutted.

Figure 7: All Repurchase/MakeWhole Requests

Under the Review Status and Review Type options, selecting All may result in extended

response times. It is recommended to narrow the search by using the drop-down options.

© 2014 Fannie Mae. Trademarks of Fannie Mae. 12.15.2014 6

Open Repurchase/MakeWhole Requests

The Open Repurchase/MakeWhole Requests displays all the loans where a Repurchase/

MakeWhole request has been issued by Fannie Mae. These loans will have a review status of

Lender Action Requested.

Figure 8: Open Repurchase/MakeWhole Requests

Note: Once a user Concurs or Rebuts Fannie Mae’s repurchase request, the loan will no

longer appear in this section. The loan will appear in either the Lender Concurred or

Lender Rebutted section depending on the action taken.

© 2014 Fannie Mae. Trademarks of Fannie Mae. 12.15.2014 7

Bulk Concur

Selecting this hyperlink displays a report of all Fannie Mae’s repurchase requests based on

specific search criteria. The user can select any number (one, several, or all) of repurchase

requests in the list by clicking the check box and then clicking Bulk Concur. If a user chooses

to include a comment, that comment will be applicable to each selected loan. The bulk concur

list of loans can also be exported to an Excel spreadsheet but only before completion of the

Bulk Concur action.

Steps to Bulk Concur 1. Select the loans to

concur

2. Enter comment that applies to all selected loans

3. Click on the Bulk Concur button

Once a user performs the Concur function, the status of the loans will change to Lender

Concurred. This function cannot be undone by the lender. Please contact your CRT

representative for assistance.

Figure 9: Bulk Concur

Steps to Bulk Concur: 1. Select the loans to

concur 2. Enter a comment

that applies to all selected loans

3. Click on the Bulk

Concur button

© 2014 Fannie Mae. Trademarks of Fannie Mae. 12.15.2014 8

Concurred Repurchase/MakeWhole Requests

The Concurred Repurchase/MakeWhole Requests report displays all the loans where the

lender has concurred with Fannie Mae’s Repurchase/MakeWhole Requests.

Figure 10: Concurred Repurchase/MakeWhole Requests

The most recent concurred date is displayed on the report under the column heading

Latest Concurred Date.

© 2014 Fannie Mae. Trademarks of Fannie Mae. 12.15.2014 9

Rebutted Repurchase/MakeWhole Requests

The Rebutted Repurchase/MakeWhole Requests report displays the loans which the lender

has rebutted Fannie Mae’s Repurchase/MakeWhole Requests.

Figure 11: Rebutted Repurchase/MakeWhole Requests

The most recent rebuttal date is displayed on the report under the column heading

Latest Rebuttal Date.

© 2014 Fannie Mae. Trademarks of Fannie Mae. 12.15.2014 10

Loan Review Details

Selecting a hyperlinked loan number will display the Loan Review Details page for that loan

and features several different sections.

Within the Loan Review Information section, users can review the existing loan review status

and also the most recent status changes.

Figure 5: Loan Review Details – Top of Screen

Figure 12: Loan Review Information – Selection Reason; Status Change

For loans that are foreclosed, the REO Status is displayed in the Loan Information section of the Loan Review Details page. Clicking on the hyperlink takes a user directly to the REO Details Page. Users can view the Loss Reimbursement Statement, BPO, REO Appraisal, and the HUD-1 from this page.

Figure 13: Loan Information – REO Information

© 2014 Fannie Mae. Trademarks of Fannie Mae. 12.15.2014 11

Loan Review Details (Continued)

The middle of the Loan Review Details page provides additional history and links to relevant

documents.

Figure 14: Loan Review Details

The Electronic Documents section displays the document(s) that the lender has sent to Fannie Mae, including the type of document for easier identification. The hyperlinked name under the Document Type column is linked to the actual document.

© 2014 Fannie Mae. Trademarks of Fannie Mae. 12.15.2014 12

Loan Review Details (Continued)

The bottom portion of the Loan Review Details page contains additional documentation links.

The LRS Documents section will display the Loss Reimbursement Statement (LRS) with a link

to the PDF format of the document. This will only display when a lender requests the LRS and it

will include the date and time stamp of the request. The lender cannot request another LRS

document for 30 days after that date.

The Notifications section lists all notifications sent by Fannie Mae in PDF format.

Standard headings provided in each notification include:

Name of the Notification

Subject

To

From

Date of the Notification

Action Requested

Body [contains the main purpose and

description of the request]

The Comments section allows the user to enter additional information and then click Add

Comment. The user can also enter an explanation and then click either the Rebuttal or Concur

button to document the research findings.

Figure 15: Loan Review Details – LRS Documents

Figure 16: Loan Review Details – Notifications

Figure 17: Loan Review Details – Comments

To Concur or Rebut Fannie Mae’s Repurchase/MakeWhole Requests, click the appropriate button.

© 2014 Fannie Mae. Trademarks of Fannie Mae. 12.15.2014 13

Loan Review Details (Continued)

The Upload Documents section is intended for uploading requested documents (e.g., missing, defective, etc.) and supporting documents on repurchase rebuttals. All documents must be uploaded in PDF format.

The Upload Document section cannot be used to upload an entire loan file.

To submit an entire loan file, please see the Electronic Loan File Upload Options on the Fannie Mae QAS page: www.fanniemae.com/singlefamily/quality-assurance-system.

Figure 18: Loan Review Details – Upload Documents

© 2014 Fannie Mae. Trademarks of Fannie Mae. 12.15.2014 14

Data Elements in the All Repurchase/MakeWhole Request Reports

Fannie Mae Loan Number

Outstanding Documentation

Property Address Line 1

Seller Name

Initial Loan File Notification Date

Review Type Property Address Line 2

Seller Number

Initial LAR Notification Date

Review Status Property Address City Seller Loan Number

Age (Days) Since LAR Notification

Age (Date) Since Status

Property Address State

Servicer Name

Latest Reaffirmation Date

REO Status Property Address Zip Servicer Number

Latest Rebuttal Date

REO Status Date Responsible Party Name

Servicer Loan Number

Latest Concurred Date

Primary Borrower Last Name

Responsible Party Number

Loan Type

Loan Review Types

RPPR = Random Post Purchase Review PPR = Post Purchase Review

PFR = Post Foreclosure Review DPPR = Discretionary Post Purchase Review

EPD = Early Payment Default Review LOS = Loss Mitigation Review

RV = Recourse Violation Review MBS = MBS Trust Compliance Review