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Guide Updates: UCD and Selling Changes that Offer New Opportunities

July 12, 2017

With Single-Family Seller/Servicer Guide (Guide) Bulletin 2017-10, we’re updating the Guide to add the Uniform Closing Dataset (UCD) requirements as new Chapter 5801. These previously- announced requirements are effective for mortgages with note dates on or after September 25, 2017. As announced on June 6, 2017, there is a six-month relief period for embedding the closing disclosure PDF within the UCD XML file. While Sellers are still required to submit the UCD XML file for mortgages with note dates on or after September 25, 2017, they now have until at least April 2018 to embed the closing disclosure PDF within the UCD XML file.

Additionally, please note the following updates to our selling requirements that support new opportunities to expand your business and improve operational efficiencies: 

  • Enhanced requirements for mortgages eligible for collateral representation and warranty relief
  • Additional guidance on our document retention requirements for certain closing and post-closing documents if they are electronically recorded
  • New requirements to grant Selling System® access to a Seller’s third-party advisors (now defined as Secondary Market Advisors)
  • New delivery requirements for mortgages with low balances eligible for cash payups
  • Updated pricing and contracting terminology to align with the new Selling System functionality introduced in Bulletin 2017-2

For More Information and Related Resources