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.