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UCD Mandate is September 25, 2017: Your One-Year Transition Starts Now!

September 27, 2016

Freddie Mac and Fannie Mae (the GSEs) communicated on May 24, 2016, that the Uniform Closing Dataset (UCD) would be required for all deliveries in Q3 2017. As a follow-up to that message, we are announcing that the UCD file must be submitted for all loans delivered to the GSEs with a Note Date on or after September 25, 2017. The GSEs will use the Note Date reported in the loan delivery XML file to determine whether the loan is required to have a corresponding UCD file. The UCD file must be submitted to the GSEs at or before delivery of the loan. Any loan with a Note Date on or after September 25, 2017 that is delivered without a submitted UCD file, will not be accepted.

Under the guiding principles established under the Uniform Mortgage Data Program® (UMDP®), Freddie Mac and Fannie Mae are making efforts to align on data standards whenever possible. The UCD Delivery Specification published by each GSE is identical; therefore, the UCD XML file* contains the exact same data points, enumerations, and conditionality.

*Reminder: In addition to complying with the data requirements in the UCD Delivery Specification, the UCD XML file must be well-formed and validate against the MISMO Version 3.3.0 Reference Model (v3.3.0_CR_2014-02) prior to delivery to the GSEs. The UCD XML file, along with the associated PDF copy of the Closing Disclosure that was provided to the borrower and seller, must be submitted to the recipient GSE's UCD collection system at or before the time of loan delivery.

Freddie Mac and Fannie Mae have implemented independent collection solutions to support UCD file deliveries. Consequently, each GSE is providing separate communications, training, testing mechanisms, and support materials to customers, which are specific to their respective collection solutions.

UCD Specification Updates

With this announcement, the GSEs are republishing the UCD Delivery Specification, which incorporates all of the updates that were previously published in the Monthly Update to UCD Appendices A/B and H/I, as well as other minor changes. Be sure to reference/save the following updated UCD Delivery Specification and artifacts:

  • Appendix A/B: Closing Disclosure Mapping to the MISMO v3.3.0 Reference Model (v1.5)
  • Appendix H/I: UCD Delivery Specification (v1.3)
  • UCD FAQs

For details on these updates, please refer to the "Read Me" and "Updates" tabs in Appendices A/B and H/I.

Additional Information and Training

The GSEs are continuing to support lenders and technology solution providers throughout implementation and adoption of the UCD. The documents referenced in this announcement and other supporting materials are located on the GSEs' respective UCD web pages on Freddiemac.com and Fanniemae.com.

If you have questions about the UCD, please contact your Freddie Mac or Fannie Mae representative.

Background: The Uniform Closing Dataset is a common industry dataset that allows information on the Consumer Financial Protection Bureau's Closing Disclosure to be communicated electronically. Fannie Mae and Freddie Mac have developed the UCD at the direction of the Federal Housing Finance Agency (FHFA) as part of the Uniform Mortgage Data Program® (UMDP®), an ongoing initiative to enhance loan quality and consistency through uniform loan data standards for the single-family loans the GSEs purchase.

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