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GSEs Publish Uniform Closing Dataset Delivery Specification

February 24, 2015

GSEs Publish Uniform Closing Dataset Delivery Specification

Today, Fannie Mae and Freddie Mac (the GSEs) are publishing Appendix I: UCD Delivery Specification to further support your implementation of the Uniform Closing Dataset (UCD). The UCD is a common industry dataset that supports the Consumer Financial Protection Bureau's (CFPB) Closing Disclosure and in the future will be required by the GSEs for all loans they acquire.

UCD Delivery Specification

Appendix I: UCD Delivery Specification provides guidance on creating the UCD file and presents the UCD in MISMO v3.3.0 XML file order. The UCD Delivery Specification will assist lenders in creating the XML file which, in the future, must be delivered to the GSEs at or before loan delivery.

In 2014, the GSEs published Appendix B: Closing Disclosure Mapping to the MISMO v3.3 Reference Model, which maps the data fields on the Closing Disclosure to equivalent data points in the MISMO v3.3.0 Reference Model. Appendix I: UCD Delivery Specification contains all the same information as Appendix B, and like Appendix B, the Appendix I: UCD Delivery Specification, contains the xPath, data point conditionality, and implementation notes for each data point in the UCD, as well as information regarding UCD container cardinality.

Additionally, the UCD Delivery Specification allows filtering by Purchase and Non-Seller transaction types to clarify data point requirements that may differ, including cardinality, conditionality, conditionality details, and implementation notes. Appendix I also provides guidance on the use of XML ARC role structures to link entity and individual information in the "Contact Information" table on the Closing Disclosure. A future update to the UCD Delivery Specification will provide guidance on the XML file structure for handling "split" disclosures — those cases when a purchase transaction Closing Disclosure is presented as separate "Borrower-only" and "Seller-only" forms.

Updates to Appendix B

The GSEs are also updating Appendix B: Closing Disclosure Mapping to the MISMO v3.3 Reference Model. The updated Appendix B includes new data points and container structures that will allow for embedding the signed Closing Disclosure in the XML file. These updates bring the UCD into conformance with MISMO's Retrievable SMART document profile. Additional data points and enumerations were added to address feedback on mapping from the industry, and to otherwise capture data that is needed by the GSEs to link the UCD with other Uniform Mortgage Data Program datasets that are delivered in association with the loan. Please see the tab, "UCD Map Updates – 2-24-2015" for a complete list of the changes.

UCD Collection

In the coming months, the GSEs will provide more information regarding the UCD collection mechanism and timeline, as well as instructions on how to deliver the UCD to the GSEs. In the meantime, the GSEs expect that lenders will begin to use the UCD in their internal processes and work with their vendors and service providers to use the UCD for data exchange.

Additional UCD Materials

The GSEs periodically update the UCD implementation materials and resources. You can find all the materials on the FannieMae.com and FreddieMac.com websites.

For additional questions about the UCD, contact your Freddie Mac or Fannie Mae representative. 

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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