Loan Closing Advisor FAQs
Loan Closing Advisor®
Find answers and advice for Freddie Mac's closing data validation tool.
General Loan Closing Advisor Questions
Loan Closing Advisor is the Freddie Mac tool that collects and validates the Uniform Closing Dataset (UCD) in XML format. Loan Closing Advisor assesses the data against the UCD specification, checking for the completeness, validity and accuracy of certain calculated values, as well as consistency of the data. You can assess a loan through Loan Closing Advisor as many times as needed throughout the loan process, helping you to identify and resolve errors before you close a loan. This reduces the likelihood of a need for loan remediation, delays in delivery and repurchase risk related to closing data.
The UCD (Uniform Closing Dataset) is a common industry dataset that allows information on the Consumer Financial Protection Bureau's (CFPB's) Closing Disclosure to be communicated electronically. The GSEs have developed the UCD at the direction of the Federal Housing Finance Agency as part of the Uniform Mortgage Data Program® (UMDP®), an ongoing initiative to enhance loan quality and consistency through uniform loan data standards for the single-family loans the GSEs purchase.
We'll require the use of Loan Closing Advisor and submission of the UCD XML file for all loans we purchase with a Note Date on or after September 25, 2017. Loan Closing Advisor is Freddie Mac's UCD collection tool; therefore, it must be used to submit the UCD XML file and Closing Disclosure PDF at or before the time of loan delivery.
The requirement to embed the Closing Disclosure PDF in the UCD XML file will be fully enforced beginning June 25, 2018. If you're able to deliver the UCD XML file with the embedded PDF before that date, we encourage you to do so.
Please visit the Loan Closing Advisor web page and click on the "Get Started" button.
You can access the Loan Closing Advisor web-based GUI and upload UCD XML files for evaluation against Loan Closing Advisor rules, and view and export results. A system-to-system (or direct) integration is also available; allowing you to assess loans and receive results via direct system integration.
Yes. The Loan Closing Advisor System-To-System Web Services Technical Document is available to Freddie Mac customers upon request. Please contact your Freddie Mac Account Representative to request a copy.
Loan Closing Advisor system-to-system (or S2S) method is a web service call that uses https protocol allowing data to be encrypted in transmission. The calling system connects to Loan Closing Advisor's web service via the required parameters. The Loan Closing Advisor web service is a synchronous service with a single operation called Evaluate Loan. This operation accepts a single loan in the Uniform Closing Dataset (UCD) format, and assesses it for data quality and eligibility, returning the results of the evaluation in the form of an XML payload.
Loan Closing Advisor uses a standard port 443 (https) for system-to-system access to Loan Closing Advisor's customer test environment and production environment.
You'll be locked out after five failed attempts. You may resubmit after the 15-minute account lock-out period.
The feedback provided by Loan Closing Advisor does not indicate whether Freddie Mac will (or will not) purchase your loan.
Yes. Both Freddie Mac and Fannie Mae accept an XML file that uses the MISMO v3.3 reference model and conforms to the published UCD specifications.
Loan Closing Advisor returns actionable feedback messages on the UCD data quality including completeness, consistency and accuracy of certain calculated values. Loan Closing Advisor also provides loan eligibility information as it relates to closing data, providing greater purchase certainty and reducing repurchase risk.
Both business and technical messages are available in the GUI and system-to system methods. The feedback certificate displays business messages only; however, an export of the evaluation results shows both business and technical messages.
Yes. You can view and print the Loan Closing Advisor feedback certificate (with or without feedback messages). For the system-to-system method, stylesheets are available to display the feedback certificate at the summary and detail levels.
You should correct all errors in the system of record so that the submitted XML file always represents the data contained within the source system.
Loan Closing Advisor will provide an “Overall UCD Requirement Status” as “Satisfied” on the feedback certificate and the Loan Evaluation Summary page.
In older system-to-system versions that do not show the “Overall UCD Requirement Status”, the UCD requirement is satisfied when there are no red General Info and no red eligibility messages.
Yes, the “Overall UCD Requirement Status” and “This Submission’s UCD Requirement Status” can be different.
“This Submission’s UCD Requirement Status” only applies to that specific loan submission in Loan Closing Advisor.
The “Overall UCD Requirement Status” is based on ALL submissions for a loan in Loan Closing Advisor. If there is at least one submission that is “Satisfied”, the “Overall UCD Requirement Status” will be “Satisfied”.
Loan Selling AdvisorSM uses the "Overall UCD Requirement Status" to determine whether a loan has met the UCD Requirement.
For submissions on or after June 25, 2018 that do not contain the Closing Disclosure PDF, a red message will fire in the Eligibility section. “This Submission’s UCD Requirement Status” will be "Not Satisfied".
Yes. Freddie Mac will require you to submit the UCD XML file along with the embedded Closing Disclosure PDF through Loan Closing Advisor for any loan submitted to Freddie Mac for purchase. For all submissions on or after June 25, 2018 that do not include the Closing Disclosure (PDF) along with the UCD XML file, a critical message will display in Loan Selling Advisor.
Yes. These are represented by the red General Info messages. The following are needed to assess your UCD XML file:
- Loan Purpose Type
- Loan Identifier Type (Lender Loan)
- Loan Identifier (Lender Loan ID)
- Document Type
- Document Type Other Description
- MIME Type Identifier*
- Object Encoding Type*
*When the Closing Disclosure PDF is included.
For further information, please review the UCD Implementation Update.
Freddie Mac assesses submissions and provides feedback against all UCD fields. The majority of the feedback messages are informational to help you validate that your closing data aligns with the UCD.
No, the transaction ID is not required as an input in Loan Selling Advisor when a loan is delivered.
Freddie Mac will leverage unique identifiers from Loan Closing Advisor in the background for Loan Selling Advisor to validate that the UCD requirement has been met. There are no changes required to Loan Selling Advisor delivery.
Yes. Generally, for one loan, the XML file with the PDF attached is approximately 3.5MB. Ten XML files can be submitted for assessment if the PDF file is attached, while a maximum of 2,500 XML files can be submitted for assessment if the PDF file is not attached.
At this point, there are no archive requirements. Some parameters are in place to limit the data that is returned. For example, when searching by Submission Date the user is limited to 62 calendar days and when searching by Closing Date the user cannot search beyond 30 calendar days.
Please contact your Freddie Mac representative with any feedback you may have on your experience with Loan Closing Advisor or any Loan Closing Advisor implementation questions. You may also contact UCD@FreddieMac.com with any UCD implementation questions.
New General Information yellow warning messages have been added to validate the delivered Appraisal Identifier against the Appraisal identifier in the UCDP. If you see any of these appraisal messages, please correct them if the data is available. Otherwise, no action is required.
Loan Closing AdvisorSM Correspondent FAQs
Yes. Correspondents will be able to submit closing data, receive assessment results and export the submitted XML and embedded PDF documents.
To use Loan Closing Advisor, you first need to have a third-party originator number.
- Visit the Loan Advisor Suite® web page.
- Click the "Get Started" link.
- Select the third-party originator option and follow the onscreen instructions to sign up for
Loan Closing Advisor.
Yes. With the Loan Advisor Suite Correspondent Assignment Center you can easily share your Loan Closing Advisor feedback certificate and your UCD data and documents with aggregators through a user-friendly web interface.
A "UCD Requirement" indicator on the Feedback Certificate will display "Satisfied" if the UCD mandate has been met and "Not Satisfied" if it has not been met.
The answer to this depends on the aggregator you are working with. Each aggregator determines their expectations for correspondent delivery.
For a list of verified vendors, check our Freddie Mac verified vendor list at http://www.freddiemac.com/singlefamily/tech_vendors.html.
Yes. You can submit updates to Loan Closing Advisor at any time.
No. if the loan received a "Successful" UCD mandate status, the seller will not need to resubmit the UCD for that particular loan.
Yes. Loan Closing Advisor has print capabilities.
Yes. The Loan Closing Advisor System-To-System Web Services Technical Document is available to Freddie Mac customers upon request. Please contact the Freddie Mac Customer Support Contact Center (800-FREDDIE) to request a copy.
Loan Closing Advisor system-to-system is a web service call that uses https protocols allowing the data to be encrypted. The calling system connects to Loan Closing Advisor's web service via the required parameters. The Loan Closing Advisor web service is a synchronous service with a single operation called Evaluate Loan. This operation accepts a single loan in the UCD format, and evaluates it for data quality and eligibility, returning the results of the evaluation in the form of an XML payload.