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Appraisal Data Accuracy and ULDD Reminders

June 6, 2012

One of the primary goals of the Uniform Mortgage Data Program® (UMDP®) is to implement a common Freddie Mac and Fannie Mae approach for capturing loan and appraisal data so that industry participants can benefit from improved data accuracy and greater operational efficiency. And now, after intense planning and hard work, we're beginning to see the results of our labor.

We have implemented the Uniform Appraisal Dataset (UAD) and the Uniform Collateral Data Portal® (UCDP®). The Uniform Loan Delivery Dataset (ULDD) is in the transition phase. Now we can begin comparing the data that is entered into the UCDP with loan delivery data in the selling system. You will need to be sure that data entered into the selling system for loans with application received dates on or after December 1, 2011 is consistent with the appraisal data submitted to the UCDP.

Beginning June 15, the selling system will compare a limited set of data points in the UCDP against the selling system data based on the Appraisal Identifier that you enter in the selling system. The Appraisal Identifier is the Document File Identifier (Doc File ID) that you receive from the UCDP. Please make sure the Appraisal Identifier in the selling system matches the Doc File ID in the UCDP and that the UCDP submission receives a "successful" status.

If the data entered in the selling system does not match the data in the UCDP, you will need to either update the data in the selling system or resubmit the correct appraisal data to the UCDP. Please remember that all appraisals must be uploaded to the UCDP the day before delivering the loan to Freddie Mac. You must wait until the UCDP data is updated before you reevaluate the loan, so ensure you have processes in place to correct the data for smooth delivery.

For more information, please review the Appraisal Data Integration from UCDP to the Selling System job aid, which will provide you with a step-by-step process.

Retiring Forms 11/13SF on July 23

On July 23, 2012 the ULDD requirements for Phase I become effective for loan deliveries that have application received dates on or after December 1, 2011. At that time, we will retire Form 11, Mortgage Submission Schedule, and Form 13SF, Mortgage Submission Voucher.

Don't wait until the last minute. We strongly encourage you to fully transition to the Phase I ULDD requirements as soon as you are operationally ready. When you enter the application received date and submit all the required data for the Phase I ULDD implementation, you will receive expanded purchase edits. By making the ULDD requirements a part of your business process now, you'll be better prepared for the July 23 ULDD requirements.

SEC-data Points and Second Lien Reminder

All loans with application received dates on or after August 1, 2012, and delivered on or after November 26, 2012, must include two additional data points required by the Securities and Exchange Commission's Rule 15Ga-111. In addition, as announced in Guide Bulletin 2011-14, the ULDD data points for all secondary financing associated with loans sold to Freddie Mac will be mandatory for deliveries on or after August 1, 2012.

Get More Information

  • ULDD resources Web page

Thank you again for your continued work to support the ULDD.

176 Fed. Reg. 4489 (January 26, 2011) (to be codified at 17 CFR §240.15Ga-1)

This communication relates to the Uniform Mortgage Data Program, an effort undertaken jointly by Fannie Mae and Freddie Mac at the direction of their regulator, the Federal Housing Finance Agency.

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