Secondary Mortgage Market Loan Delivery

A secondary mortgage market loan delivery transaction set is used by mortgage servicers, loan originators, and warehouse lenders to transmit detailed loan information to investors, securitization platforms, and other secondary market participants. Typically sent in response to a purchase commitment or delivery instruction, this transaction communicates the complete loan file data required for loan buydown, acquisition, or pooling. The BGN (Beginning Segment) establishes the delivery context and transaction purpose, the DEX (Delivery Execution Information) segment specifies core loan delivery parameters and identifies the loans being transferred, and the NM1 (Individual or Organizational Name) loop provides detailed identification of the borrower(s) and other parties involved in the transaction.

Loan Depot sends a 202 transaction to Fannie Mae to deliver a batch of five newly originated mortgage loans as part of a forward commitment. The transmission includes the DEX segment detailing each loan’s principal balance and delivery terms, the LX loop nested within NM1 providing loan-level details such as the interest rate, maturity date, and loan purpose captured through AMT, DTP, and REF segments, and supporting loops like LUC (Loan Underwriting) and RLD (Down Payment Data) that supply underwriting criteria and down payment information. Fannie Mae receives and processes this 202 to verify loan compliance with purchase agreement terms before accepting the loans into its investment portfolio.