Freddie Mac and Fannie Mae announced on December 13, 2012, the Phase 2 ULDD (see: sidebar) data requirements for all loans with Application Received Dates on or after March 1, 2014, and delivered on or after August 25, 2014. While Fannie Mae recently announced a delay to their timeline for the Phase 2 ULDD implementation in their Loan Delivery system, Freddie Mac is not making changes to the ULDD Phase 2 requirements timeline. We will continue to work closely with you to help you prepare for the August 25, 2014, mandate.

Both Fannie Mae and Freddie Mac believe it is imperative that all lenders continue to prepare to deliver the Phase 2 data points for all loans with Application Received Dates on or after March 1, 2014, and delivered on or after August 25, 2014.

As described in Fannie Mae's June 27, 2013, communication, beginning August 25, 2014, Fannie Mae’s Loan Delivery system will simply treat the data as “optional” until Fannie Mae implements the required system changes.

Continue to Prepare for August 25, 2014

As you continue your Phase 2 ULDD preparations, you should now be conducting your data analysis. By carefully reviewing the Phase 2 data points, you can determine which data points you currently collect and which ones will require a plan for future collection. For more information, be sure to read the May 20 Single-Family News Center article (see: sidebar). You can also view the key activities you should be conducting by reviewing the calendar in the sidebar, Preparing for ULDD Phase 2  [PDF].

For more information, please check out our ULDD Questions and Answers in the sidebar, or contact your Freddie Mac representative or 800-FREDDIE.