On June 30, 2015, the GSEs announced they will implement separate collection solutions for lenders to deliver the Uniform Closing Dataset (UCD).
Describes how the GSEs are developing the Uniform Loan Application Dataset (ULAD) to correspond with the updated Uniform Residential Loan Application (URLA) form (Fannie Mae’s Form 1003).
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.
Fannie Mae and Freddie Mac are revising and redesigning the Uniform Residential Loan Application (URLA) and developing a corresponding standardized dataset, the Uniform Loan Application Dataset (ULAD). The revised URLA form will provide lenders and borrowers with greater clarity and an easier, more consumer-friendly loan application.
Resources are available on the new Loan Delivery page to assist with your transition, including Ask the Expert webinars to prepare you for the ULDD Phase 2 transition.
Live webinars run through April to provide information about Fannie Mae's UCD collection solution. Register today to learn more about UCD!