Resources to Support Your Planning for the New Loan Delivery Data Requirements
September 29, 2010
In recent months, we've made several announcements about our loan delivery data requirements for the Uniform Loan Delivery Dataset (ULDD) that will be effective for all loans delivered to Freddie Mac through the selling system on or after September 1, 2011.
The ULDD is a key component of our data standardization efforts under the Uniform Mortgage Data Program. Use of industry standard data terms and definitions will help improve loan quality by increasing your confidence that loan data is complete and accurate for all loans you plan to deliver to Freddie Mac.
We are providing extensive lead time before the new requirements go into effect because there are a variety of business and technical impacts that you will have to consider as part of your planning and they may take some time to implement, including:
- Partnering with a technology vendor for delivering loans through the selling system.
- Capturing and delivering data that Freddie Mac does not currently require at loan delivery.
- Assessing impacts to your business processes in areas such as loan production, and packaging and shipping.
- Training staff on the new requirements.
Partner With a Vendor
If you are planning to use a vendor solution for delivering loans under the new requirements, we encourage you to begin the vendor selection process as soon as possible.
To help you find the right vendor partner:
- Start with our preliminary list of selling system vendors who have indicated they plan to build the technical interface to the selling system.
- Leverage our vendor selection fact sheet to guide your discussions for finding a vendor partner best suited to meet your business needs.
These important resources and others are posted on the Uniform Loan Delivery Dataset Web page. Please be sure to check this Web page often for additional resources that will be posted over the next several months to support your implementation of the new requirements.