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GSEs Publish Phase II ULDD Specification

December 13, 2012

Today, Freddie Mac and Fannie Mae (the GSEs) have published the Phase II specification for the Uniform Loan Delivery Dataset (ULDD). The ULDD is a component of the Uniform Mortgage Data Program® (UMDP®), an ongoing effort by the GSEs, at the direction of the Federal Housing Finance Agency (FHFA), to enhance the accuracy and quality of loan data each GSE requires at loan delivery. In response to feedback received by the GSEs during the Phase I ULDD implementation, lenders will find that the Phase II ULDD specification provides greater overall GSE alignment on items such as the implementation notes and data point requirements (conditionality).

The Phase II ULDD specification contains a total of 19 joint data points, of which 15 were Optional for both GSEs in the Phase I ULDD specification, one data point that was Conditionally Required for Freddie Mac and Optional for Fannie Mae, and three net new data points. The 19 joint data points in the Phase II specification support current or emerging business needs.

In addition, each GSE’s Phase II dataset contains revisions to some of the Phase I data points that may require changes to lenders’ or vendors’ coding. There are also documentation changes and additional guidance provided in the implementation notes that should be reviewed.

Lenders must begin collecting the Phase II data points for all loans with Application Received Dates on or after March 1, 2014, for loans delivered on or after August 25, 2014.

Note: Within the Phase II ULDD, there are 11 data points that will be conditionally required by Freddie Mac beginning August 25, 2014. Fannie Mae will require the data points at a later date, but will accept the data points earlier to align with Freddie Mac and enable lenders to implement all the data points at the same time. A notification of Fannie Mae’s implementation timeline for the 11 data points will be announced in the second quarter of 2013.

The GSEs encourage all lenders, regardless of how data is entered into the GSE delivery systems—manually or through a file import—to begin an analysis now to determine if the Phase II data points are currently collected. As many lenders discovered during Phase I, this analysis process is of critical importance.  Many lenders may need to update or refine their systems or processes to ensure that they are able to capture the data points that are required for Phase II. As with ULDD Phase I, the GSEs will work closely with vendors to ensure they can support lenders with this implementation.

Please carefully review the Phase II ULDD specifications. Each GSE’s Appendix D - XML Data Requirements Reference Tool (Excel version) provides an overview of the specification, including a “tab description” section that describes all the information contained within the document. Separate tabs have been created for each phase of the ULDD, making Appendix D a comprehensive reference for all the ULDD requirements. Please note, descriptions of the changes to Phase I data points are included in a new Change Category column that describes the type of change. The GSEs have also provided Appendix A - XML Data Requirements, which is a PDF version of Appendix D.

The GSEs will provide more information on the Phase II ULDD implementation, including training, customer testing availability, participating vendors, Q&As and resources, in the future.

More Information

For more information on the Phase II ULDD, please visit Freddie Mac’s ULDD Web page for updates and the following resources:

  • Appendix A - XML Data Requirements V.3.0:  Incorporates the Phase II changes, effective for Mortgages delivered to Freddie Mac on or after August 25, 2014 with Application Received Dates on or after March 1, 2014.
  • Appendix D - XML Data Requirements Reference Tool V.3.0:  An Excel version of the specification that may be used to easily sort and organize the data.
  • Appendix E – MISMO V.3.0: Reference Model with GSE Extensions:  Specifies the use of two extension containers for two data points not supported in V.3.0 of the MISMO Reference Model.
  • Implementation Guide for Selling System Export – Sellers: Updated to incorporate all specification changes in the Appendix A Addendum, July 20, 2012.

NOTE: The GSEs have also published Appendix E-MISMO Version 3.0 Reference Model with GSE Extensions, containing GSE modifications to the MISMO Version 3.0 Reference Model (V3.0 Reference Model). The extended schema in Appendix E specifies the use of extension containers for two data points that are not contained within the V3.0 Reference Model. It is important that this extended schema be used to develop the Phase II changes. The changes will be incorporated into a future version of the MISMO schema.

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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