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Freddie Mac Issues Updates on ULDD Phase 3 Update


Freddie Mac has been carrying out their previously announced updates to the Uniform Loan Delivery Dataset and the company prepared a full update to reflect the changes to ULDD.

GSE Updates Include:​ further align GSE loan delivery requirements, support for each GSE's implementation of the Home Affordable Refinance Program replacement program for high loan-to-value mortgages, clarification of the down payment data required for affordable housing purchase transactions, incorporating additional valid values to allow delivery of escrow item data available to the Uniform Closing Disclosure and the company also addressed lender feedback as well.

"As a reminder, because the Phase 3 import file contains all Phase 2 data, you can use the Phase 3 import file as soon as you are operationally ready to deliver both Phase 2 and Phase 3 loans during the transition period," according to the Freddie Mac update.

"Effective May 20, 2019, loans with Application Received Dates on or after January 1, 2019, must meet the ULDD Phase 3 requirements."

To learn more about these updates to the Uniform Loan Delivery Dataset and what the future holds, click on the image above.

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