ULDD Addendum Provides Clarity and Alignment
September 23, 2014
Today we published the Q3 2014 Uniform Loan Delivery Dataset (ULDD) Addendum, which includes updates and clarifications to our loan delivery requirements. You’ll find greater alignment between Freddie Mac and Fannie Mae (the GSEs) on items such as implementation notes, conditionality, and data point requirements.
Many of the addendum updates reflect changes we previously announced in Single-Family Seller/Servicer Guide (Guide) Bulletins, and some of them may require system coding changes, including the new data point changes highlighted below. Please review the entire ULDD Addendum and share it with your technical staff and loan delivery team to determine if there are any process or system impacts. You will find the addendum in Appendix A – Freddie Mac XML Data Requirements V3.4.0, under Tab 9Q3-ULDDS Addendum issued 9-23-14.
Current HELOC Maximum Balance Amount (Sort ID# 511): Beginning May 5, 2015, you will need to enter the HELOC maximum credit line as of the note date of the first lien mortgage. If the maximum credit line has been modified, you will need to deliver the modified maximum amount, even if the modified maximum credit line amount has been reduced to less than the disbursed HELOC amount entered in ULDD data point HELOC Balance Amount (Sort ID# 512)
Please note that if you manually enter your loan data, you will need to follow the instructions above. See Guide Section 17.42 for more information.
Appraiser License Identifier (Sort ID# 525): The implementation notes have been updated to provide clarification on how to deliver the appraiser license identifier and the appraiser supervisor license identifier when the appraiser is a trainee.
Please note that Fannie Mae recently announced that their ULDD Phase 2 mandate is targeted for late second quarter 2016; the Application Received Date for collecting the new ULDD Phase 2 data points remains March 1, 2014.
Phase 3 Update
ULDD Phase 3 to support the Consumer Financial Protection Bureau’s rule implementing the “ability to repay” (ATR) provisions of the Truth-in-Lending Act, (as amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act) remains on hold as the GSEs analyze potential impacts of the Uniform Closing Dataset initiative.
If you have questions about the ULDD Addendum, please contact your Freddie Mac representative.