Guide Bulletin 2018-1: Extension of Effective Date for Rental Income Revisions and Updates to Incorporate ULDD Phase 3 Requirements
January 31, 2018
With Single-Family Seller/Servicer Guide (Guide) Bulletin 2018-1, we're:
Extending the effective date for the rental income revisions announced in Guide Bulletin 2017-12. The revised requirements will now be effective for mortgages with Freddie Mac settlement dates on and after November 30, 2018, rather than February 9, 2018, as originally announced.
- Incorporating the Uniform Loan Delivery Dataset (ULDD) Phase 3 requirements into the Guide. Sellers must comply with the ULDD Phase 3 requirements for mortgages with application received dates on and after January 1, 2019, and delivery dates beginning on May 20, 2019.
- Loan Selling AdvisorSM will be updated on February 26, 2018, which will start the ULDD Phase 3 transition period.
- During the transition period, Sellers may begin delivering ULDD Phase 3 data points and valid values via manual entry or data import as soon as they are operationally ready to do so.
- Updating Guide Chapter 6302 with Loan Product Advisor® terminology, where needed, since Loan Selling Advisor will be updated February 26, 2018, to accept both Loan Prosepctor® and Loan Product Advisor.
Review Guide Bulletin 2018-1 for details.