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Update on the UCD Seller Data Requirement

December 12, 2017

Freddie Mac and Fannie Mae (the GSEs) are committed to ensuring customers remain on track with their adoption of the Uniform Closing Dataset (UCD). As a follow-up to the November 2016 announcement, this update provides important clarification on the requirements for delivering Seller data in the UCD XML file.

The GSEs have been working with the industry to define an optimal solution for all parties that addresses recent challenges obtaining the Seller data and Seller Closing Disclosure (CD) PDF from settlement agents and converting them to a viable format. Based on lender feedback, the GSEs understand industry concerns and limitations in obtaining the complete set of Seller data. The GSEs have agreed to no longer require the Seller CD PDF as part of the UCD XML file submission. However, consistent with the current policy, the Seller CD PDF will be required to be retained in the mortgage file.

NOTE: This change does NOT impact the current (Borrower) UCD requirements. Lenders must continue delivering the full set of Borrower data in the UCD XML file, then begin embedding the Borrower CD PDF in the UCD file as of April 2018.

Though the GSEs are no longer requiring the PDF of the Seller CD, a minimum set of Seller data points will eventually be required as part of the UCD XML file submission. Given the need to continue industry outreach, we will not mandate submission of this data before January 2019, and more information will be communicated as it becomes available.

This minimum set of Seller data points will include items that have a direct impact on the eligibility of the loan for sale to the GSEs or to the management of risk. The focus will be on ensuring that the appropriate Borrower information is provided along with a minimum set of Seller Data within the XML.

We will continue our outreach to customers during Q1 2018 regarding the minimum data required in the UCD file, derived from the Seller’s CD. We expect to provide a more detailed list of required Seller data elements to the industry in Q2 2018.

Additional Information

Should you require assistance, please contact your account representative or submit your questions to our UCD mailboxes: UCD@FreddieMac.com and UCD@FannieMae.com. For more information on UCD, visit the Freddie Mac UCD page or the Fannie Mae UCD page.

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