Freddie Mac Updates UCD Seller Data Requirement
Freddie Mac has provided more updated to the UCD Seller data Requirement. This time, the company is updating the requirements and clarifying the necessary documentation and delivery of Seller data.
"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," according to a recent Freddie Mac announcement.
"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."
The company noted that this change would not impact the current borrower UCD requirements for clarification. To learn more about this recent change, click on the image above.