ULDD Phase 2 Customer Test Environment Now Available, Plus Selling System Historical Data
April 9, 2014
The Freddie Mac selling system customer test environment (CTE) is now available to help you prepare for the implementation of the Uniform Loan Delivery Dataset (ULDD) Phase 2 requirements. The CTE provides a preview of the updated version of the ULDD selling system, which you will see and experience beginning Monday, May 19, 2014.
Whether you manually enter your loans or use a vendor's technology solution to import your data into the selling system, the CTE is an important tool that allows you to test your loan delivery process under the Phase 2 requirements. You can create and modify loans through manual entry or import, explore our new purchase edit messages, allocate loans to contracts, prepare the loans for funding, and export data for downstream use. Remember that you're in a test environment, so it's safe to "play around" with the system.
Be sure to talk with your vendor if you use a technology system to import your loan data. Once your vendor has released their software update, you will want to conduct testing of import capabilities and ensure your processes are working correctly. Check our Web site for the status of your vendor's verification and software release.
Prepare for the May 19 Selling System Update
- Update processes and origination systems: Ensure you’ve captured the required Phase 2 data points for all loans with Application Received Dates on or after March 1, 2014.
- Leverage the CTE: Become familiar with the new look and feel of the selling system screens, as well as the new data point, activated Optional data points from Phase 1, and associated purchase edits.
- Take the Phase 2 tutorial: The Get Ready for ULDD Phase 2 tutorial will be available beginning April 14, 2014, on the Learning Center.
- Update 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 before the selling system is updated on May 19, 2014. You will be able to add the new Phase 2 data points to your customized datasets beginning May 19, 2014. We are providing you with an updated seller export file, which incorporates the Phase 2 changes, for your convenience.
- Manage your pipeline: The selling system conversion from ULDD Phase 1 to ULDD Phase 2 requirements will begin on Friday, May 16, 2014 at 8 p.m., and will end on Monday, May 19, 2014 at 8 a.m. If you have contracts that are about to expire or are due to fund around the conversion weekend, we strongly encourage you to ensure your loans are in a "Funded" status by 2:30 p.m. on Friday, May 16, 2014, to ensure smooth processing and avoid post-funding data correction issues. The selling system will not process any loans during the conversion weekend, but will resume standard operations and processing beginning Monday, May 19, 2014 at 8 a.m.
- Deliver one, deliver all: During the ULDD transition period – May 19 to August 24, 2014 – if you choose to deliver any Phase 2 data points on an individual loan, the selling system will expect all applicable Phase 2 data points for that loan, and it will be validated against the Phase 2 requirements.
Historical Loan Delivery Data Coming Soon on Freddie Mac Selling System
As part of our ongoing commitment to enhance the Freddie Mac selling system, on April 14 we will be adding a feature that will allow you to access historical loan delivery data for fulfilled contracts and the loans associated with those contracts.
You can now retrieve historical data from January 2010 through December 2012 through the "Retrieve Historical Data" link on the selling system. We will continue to add historical data to the new link until it contains all fulfilled contract and loan data up to the current date. Once the data is brought current, it will become a comprehensive source for retrieval of selling system historical data. Until that time, you can continue to access data for contracts fulfilled from 2013 to present through the existing selling system export functions. To request data prior to 2010, please contact your loan delivery representative.
To help you navigate through this new feature, we encourage you to take advantage of our online job aid on the Learning Center, available Monday, April 14.
For More Information
- Leverage the updated Phase 2 seller export file.
- Be on the lookout for our tutorials, Get Ready for ULDD Phase 2 and How to Retrieve Historical Data in the Selling System – both available April 14.
- Subscribe to our Selling System Technology Alert to receive status messages on the selling system
- Check out our vendor verification Web page.