Fannie Mae And Freddie Mac Announce Next Phase Of ULDD

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On December 13, Fannie Mae and Freddie Mac published the Phase 2 Specification for the Uniform Loan Delivery Dataset (ULDD), the common set of data elements required by Fannie Mae and Freddie Mac for single-family loan deliveries as part of the Uniform Mortgage Data Program, an initiative announced in May 2010 to improve appraisal quality and other loan information. The Phase 2 ULDD specification contains a total of 19 joint data points, of which 15 of which were optional for both Fannie Mae and Freddie Mac as part of the Phase 1 ULDD specification, one data point that was conditionally required for Freddie Mac and optional for Fannie Mae, and three new data points. Lenders must begin collecting the Phase 2 data points for all loans with application received dates on or after March 1, 2014, for loans delivered on or after August 25, 2014.

Topics:  Fannie Mae, Freddie Mac, Uniform Loan Delivery Dataset

Published In: Administrative Agency Updates, General Business Updates, Finance & Banking Updates, Residential Real Estate Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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