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Get Closing Confidence with Loan Closing AdvisorSM

September 29, 2016

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The Freddie Mac Loan Advisor Suite®, our innovative end-to-end technology solution, just got better with Loan Closing Advisor®, our Uniform Closing Dataset (UCD) collection solution that helps you close loans more confidently – and so much more.

Loan Closing Advisor helps you assess whether your closing data aligns with the UCD, a common industry dataset that allows information on the Consumer Financial Protection Bureau’s (CFPB) Closing Disclosure to be communicated electronically.

With Loan Closing Advisor, you can compare your closing data against the UCD specification and test for completeness, validity, certain calculations and data consistency, while saving time and resources. You can also:

  • Validate that your UCD XML is properly formed using the MISMO v3.3.0 schema and data points. Upload UCD XML files for assessment against Loan Closing Advisor rules. The tool accommodates single-file and batch-file UCD XML submissions.
  • Use a range of search criteria and filters, such as lender loan ID, closing date, submission date and more.
  • Get real-time, actionable feedback on the reasonableness of your UCD XML file to help resolve closing data defects and to obtain loan eligibility information as it relates to closing data.
  • Give third-party originators direct access to validate UCD XML file structure, standards and data before assigning a loan to you.
  • Provide aggregators access to assigned loan information.

Test Your Files Now

Beginning next year in September (for loans with notes dated on or after 9/25/17), delivery of the UCD will be required for all loans purchased by Freddie Mac.

This important date will be here before you know it, so prepare by building your UCD XML file and testing its delivery in Loan Closing Advisor’s fully functional customer test environment (CTE).

By testing the delivery of your UCD file in our CTE, you can get a jump start as you prepare for the mandatory delivery of the UCD and check whether your UCD XML file aligns with the UCD specifications. Check with your vendor to determine its timeline for integrating Loan Closing Advisor.

To register for Loan Closing Advisor, please contact your Freddie Mac Account Representative or visit the Loan Closing Advisor web page and click on the "Get Started" button to start the registration process.

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