Describes Fannie Mae's and Freddie Mac's announcement of the new collection timeline for the Uniform Closing Dataset (UCD).
Provides information on Fannie Mae initiatives and upcoming milestones, and what lenders need to know to successfully navigate the changes ahead.
The Uniform Closing Dataset (UCD) is a component of the Uniform Mortgage Data Program (UMDP), an ongoing effort by Fannie Mae and Freddie Mac at the direction of our regulator, the Federal Housing Finance Agency, to provide a common industry dataset to support the Consumer Financial Protection Bureau’s (CFPB) Closing Disclosure.
The Uniform Collateral Data Portal (UCDP) is a technology application through which lenders electronically submit appraisal reports for conventional mortgages to be delivered to Fannie Mae or Freddie Mac.
The Uniform Appraisal Dataset (UAD) was jointly established by Fannie Mae and Freddie Mac to provide common requirements for appraisal data.
The Uniform Loan Delivery Dataset (ULDD) was jointly established by Fannie Mae and Freddie Mac to provide common requirements for loan delivery data.
The Uniform Closing Dataset (UCD) will be required for delivery in Q2 2017; however, lenders may deliver as early as Q4 2016. Also, learn more about the GSEs’ separate UCD collection solutions.
The new Loan Delivery application will enable certain Special Feature Codes associated with a loan to be automatically derived and displayed, when applicable.