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ULDD Phase 3 Update

March 28, 2017

Freddie Mac and Fannie Mae (the GSEs) are providing an update regarding Phase 3 of the Uniform Loan Delivery Dataset (ULDD), as a follow-up to the December 13, 2016, ULDD Phase 3 Specification Release. This announcement provides details on the implementation timeline, and is accompanied by an updated specification and supporting documentation.

ULDD Phase 3 supports further alignment and continued improvement of loan delivery standards between the GSEs. As part of this update, we have published the revised ULDD Phase 3 Appendix A XML Data Requirements on our respective ULDD web pages, each containing a tab with details about the new and updated data points.

ULDD Specification Updates

The Freddie Mac ULDD Phase 3 specification contains:

  • 29 new data points, of which 26 are net new to both GSEs.
  • 14 new data points to support current or emerging business needs.
  • 14 new data points to support the delivery of expanded borrower demographic information under the Home Mortgage Disclosure Act (HMDA) Final Rule.
  • 1 optional data point to support the joint ULDD dataset.

NOTE: Each GSE's ULDD Phase 3 dataset also contains revisions to some existing Phase 2 data points that may require changes to Sellers' or vendors' coding. There are also documentation changes and additional guidance provided in the implementation notes that should be reviewed.

The GSEs encourage all Sellers to review the updated Phase 3 specification, regardless of their loan delivery method. Most Sellers will need to update their systems and/or processes to capture and deliver the data points that will be required for Phase 3. As with previous ULDD Phases, the GSEs will work closely with vendors to ensure they will be prepared to support this implementation.

Demographic Information

To support Seller collection and delivery of the new HMDA borrower demographic information, consistent with the redesigned Uniform Residential Loan Application (URLA) (Section 7. Demographic Information) and the URLA – Demographic Information Addendum, the GSEs have updated the associated ULDD Phase 3 requirements. To accommodate delivery of this data, we are introducing new extension containers to the MISMO v3.0 Reference Model. Each GSE has published an updated Appendix E – MISMO V3.0 Reference Model and ULDD Phase 3 Extension Schema, specifying the requirements for construction of the extension containers.

Most Sellers will be required to collect the new Demographic Information for loans with applications received on or after January 1, 2018. However, to allow Sellers sufficient time to update their delivery systems, the HMDA Government Monitoring data, collected on the existing URLA, will continue to be deliverable in the existing Phase 2 containers. For additional detail, please refer to the Implementation Documentation listed below.

Implementation Timing

The GSEs have established implementation timelines and associated mandates that are responsive to industry needs, providing extended adoption periods to comply with the Phase 3 requirements. Together, the GSEs agreed that the HMDA data requirements will be required in May 2019, providing Sellers ample time to complete their 2018 reporting under the HMDA Final Rule.

Freddie Mac will implement ULDD Phase 3 in the Freddie Mac Selling System® over two separate releases, with a May 2019 mandate:

  • Beginning June 5, 2017, Sellers will be able to import or enter warehouse lender data on the loan record for Pledged Mortgages. Those importing their loan delivery data can take advantage of this feature by updating the Phase 2 XML file with the warehouse lender data points. Refer to Freddie Mac Single-Family Seller/Servicer Guide Bulletin 2017-2 for additional information.
  • Targeted for 1Q 2018, the second release will contain the remaining Phase 3 updates, including the new HMDA Demographic Information data. With this release, Sellers who are ready to do so may begin delivering their full ULDD Phase 3 file. We'll provide the exact date of the 1Q 2018 release in a future communication.

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Implementation Documentation

To support your development and adoption of ULDD Phase 3, we're publishing:

  • Updated XML Data Requirements specifications (Appendix A and Appendix D).
  • Appendix B – Test Case Scenarios.
  • Appendix C – XML Samples.
  • Appendix E – MISMO V3.0 Reference Model and ULDD Phase 3 Extension Schema.
  • Implementation Guide for Loan Delivery Data.
  • Joint GSE Timeline
  • Updated Questions and Answers.

Additional Information

For questions about this announcement, or ULDD Phase 3, please reach out to your Freddie Mac representative. Visit Freddie Mac's ULDD web page for more information and new resources.

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