ULDD Phase 2 Tips and Selling System Updates
February 18, 2014
Below, you’ll find information and resources on the following topics:
- Uniform Loan Delivery Dataset (ULDD) Phase 2 tips and news to support your implementation
- Selling system enhancements in response to your feedback.
ULDD Phase 2 Tips and News
This year we will implement ULDD Phase 2. Remember – you must begin collecting the ULDD Phase 2 data points for all loans with Application Received Dates on or after March 1, 2014, and delivered to Freddie Mac on or after August 25, 2014. Please review the following to help you prepare:
- Review the ULDD Addendum: Updates to the ULDD Phase 2 specification, Appendix A – Freddie Mac XML Data Requirements V.3.3.0, include changes and clarifications that will support your implementation.
- Tab 9Q1 ULDDS Addendum Issued 1-29-14 lists data points with updated requirements, including conditionality details, implementation notes, or enumerations.
- Tab 8-Enumerations provides updates for supported enumerations for certain data points.
- Tab 10A-Phase 2 Complete Mandate 8-25-14 provides the complete dataset, including Phase 1, Phase 2, and all addenda changes.
- (NEW) Tab 10B-Phase 2 and Addenda 2012 - 1Q 2014 provides a list of Phase 2 data points and all Phase 2 addenda published to date.
- Prepare for the transition: The Freddie Mac ULDD transition period is May 19 to August 25, 2014. During this time, you may deliver the applicable Phase 2 data points by manual entry or data import. If you choose to deliver any Phase 2 data points before August 25, the selling system will expect all applicable Phase 2 data points, and the loan will be validated against the Phase 2 requirements.
- Talk to your vendor: Using a software vendor to import your loan data? Talk to your vendor now and find out when their software updates will be available.
- Update your customized export files: If your customized exports contain any Phase 1 Optional data points that are not being activated in Phase 2, you will need to remove them from the export file when the selling system is updated for ULDD Phase 2 on May 19, 2014. You will be able to add the Phase 2 data points to your customized datasets beginning May 19, 2014. For help, review our job aids: Modify a Customized Export Data Set and Export Your Loan Data.
- Take our online tutorial: Are You Ready for ULDD Phase 2 and check out our job aid, ULDD Phase 2 Data Points
- Check out an updated job aid: ULDD: Data Delivery Tips for Bedroom Count and Property Dwelling Unit Eligible Rent Amount for information on how to deliver the bedroom count for properties containing bedrooms above and below grade.
- Review the Single-Family Seller/Servicer Guide (Guide): Issued on February 14, 2014, the Guide Bulletin updates Chapter 17 and Exhibit 34 to incorporate the ULDD Phase 2 requirements.
Selling System Enhancements
As part of our ongoing commitment to improve your experience using the Freddie Mac selling system, we will make the following system enhancements on March 3, 2014:
- Relocate the Cash Adjustor for Freddie Mac Relief Refinance MortgagesSM within the selling system. You will be able to access the adjustor from the Freddie Mac Price Sheet results screen and the Take Out Cash Contract screen. Placement on these screens will allow you to access the adjustor as you take out a cash contract or view cash pricing.
- Enable export of Servicing Buyer loan numbers for loans sold through the Servicing Released Sales Process. Including the servicing buyer assigned loan number will help facilitate your transfer process to the Servicing Buyer. With this change you will be able to easily track your borrower’s loan with the Servicing Buyer.
Take advantage of the Selling System Updates 1st Quarter 2014, a recorded tutorial that will guide you through these changes. You will be able to access the tutorial beginning March 3, 2014, by visiting the Learning Center Updates page and selecting the Selling & Delivery tab.
- Guide Bulletin 2014-2
- ULDD Phase 2 specification, Appendix A – Freddie Mac XML Data Requirements V.3.3.0. Refer to the Excel version for easier data sorting and organizing: Appendix D – Freddie Mac XML Data Requirements Reference Tool V.3.3.0.
- ULDD Tutorial: Are You Ready for ULDD Phase 2?
- Preparing for ULDD Phase 2 calendar, a monthly checklist of important tasks
As always, please contact 800-FREDDIE or your Freddie Mac representative with questions.
This communication relates to the Uniform Mortgage Data Program, an effort undertaken jointly by Freddie Mac and Fannie Mae at the direction of their regulator, the Federal Housing Finance Agency.