Uniform Closing Dataset – UCD

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WHAT IS UCD? HOW DOES THIS AFFECT ME? THE SOLUTION HOW TO FAQ
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What is UCD?

What is UCD?

The Uniform Closing Dataset (UCD) is a common industry dataset that supports the Consumer Financial Protection Bureau’s (CFPB) Closing Disclosure which is part of the Uniform Mortgage Data Program (UMDP). It is an upcoming requirement of Fannie Mae and Freddie Mac at the direction of their regulator, the Federal Housing Finance Agency. The GSEs will require a UCD XML file for all loans having a note date on or after Sept. 25, 2017. When applicable, we anticipate that most conforming loan investors, whether planning to immediately deliver to the GSEs or aggregating for a later loan delivery, will require an originating lender to submit the UCD file to both Fannie and Freddie and receive the UCD Findings Reports from both GSEs as a condition of their loan approval to ensure the upload was successful to both GSEs and the Casefile ID is correct for the loan.
How does this affect me?

How does this affect me?

  • Do you have loans purchased by investors?
  • Will you be originating loans on or after Sept. 25 2017?

If you answered yes to any of the above questions, it will affect you. Beginning September 25, 2017, both Fannie and Freddie will require the originating lender to submit a UCD Findings Report as a condition of their approval. We strongly believe that most loan investors will follow suit and require a UCD file as well. If you sell your loans on the secondary market to any investor, you need a solution in place today!

The Solution

The Solution

PPDocs is an approved Technology Solution Provider (TSP) with Fannie and Freddie!


  • UCD file as part of our normal document preparation.

  • Leverage out technology platform to help verify stability and reduce risk.

  • Automated preparation and delivery to the GSEs.

  • Centralized workflow for GSE feedback.

  • Available as a standalone solution.

How To

How To

PPDocs UCD flow
These are quick steps on how to submit a file, for a more detailed walk thru please click below:

FULL GUIDE
FAQ

Frequently Asked Questions

Yes, each lender will need an account with UCD submit access enabled. For more information please visit the respective GSEs website (Please note, for direct integration with Freddie Mac, you will need to request System to System credentials):
Fannie Mae
Freddie Mac
The UCD requirement only applies to Conventional loans.
When applicable, we anticipate that most conforming loan investors, whether planning to immediately deliver to the GSEs or aggregating for a later loan delivery, will require an originating lender to submit the UCD file to both Fannie and Freddie and receive the UCD Findings Reports from both GSEs as a condition of their loan approval to ensure the upload was successful to both GSEs and the Casefile ID is correct for the loan.
While the GSEs have delayed the requirement for the PDF to be included in the submission. PPDocs has already implemented this feature ahead of schedule.
PPDocs will store the original CaseFile ID generated by the GSEs. Once you have gone into the order form and saved your changes, you can follow the same steps to submit the UCD file to the GSEs.
Yes, we have a short video available here: YouTube Video and a detailed PDF available here: What is UCD PDF
The GSEs will give errors when certain data elements do not meet their specific requirements. Depending on the error, you will need to go back into the PPDocs order form and correct the errors and resubmit to the GSEs. If there is an error you are not able to correct, please email support@ppdocs.com for assistance.
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