Additional Resources Available for UCD Phase 3 Critical Edits Transition

Additional key resources from the Uniform Collateral Dataset (UCD) are now available to help you navigate Phase 3 critical edits testing in Loan Closing Advisor^®. Resources are accessible on the Freddie Mac UCD page.

WHAT’S NEW

To continue to help you prepare your systems to meet the May 1, 2023, Phase 3 critical edits implementation mandate, we’re publishing the following information:

• The UCD February 28 Joint GSE Industry Announcement  with a link to new and updated joint UCD resources, including:
  • Joint GSE UCD Phase 3 Critical Edits Job Aids that illustrate how data should be provided in the UCD xml file for certain sections of the Closing Disclosure (CD) to avoid triggering Phase 3 critical edits:
    • Loan Discount Points and Lender Credits - NEW
    • Escrows – NEW
    • Qualified Mortgage Short Reset ARM APR Percent - NEW

RECENTLY UPDATED RESOURCES

• Joint GSE UCD Phase 3 Critical Edits Feedback Message Mapping Document – UPDATED
  Added the QM Short Reset ARM APR data point feedback messages and made updates to reflect changes to each GSE’s collection solution to prepare for the Phase 3 critical edits transition.
• UCD Critical Edits Matrix v5.3 - UPDATED
  Correction to the QM Short Reset ARM tab; refer to the Read Me tab in the file.

RECAP OF WHAT’S ALSO AVAILABLE

As you know, UCD Phase 3 critical edits and QM Short Reset ARM APR Percent data point edits are available for testing in the Loan Closing Advisor production environment (warning edits) and customer testing environment (CTE) (critical and warning edits). Refer to the UCD December 20 Joint GSE Industry Announcement for more information.

For more information on the UCD critical edits transition, visit Freddie Mac’s UCD web pages. Please contact your Freddie Mac representative for assistance or submit your questions to [email protected].