Reminder: Loan Closing Advisor March 15 Release and Training Module Update for UCD Phase 3 Critical Edits Transition
We’re providing additional updates to Loan Closing Advisor® to assist you with the Uniform Collateral Dataset (UCD) Phase 3 critical edits transition. Check out these additional UCD resources to help your system preparations.
WHAT’S NEW
Upcoming Loan Closing Advisor March 15 Release
UCD Critical Edit Phase 3 and Qualified Mortgage (QM) Short Term Reset adjustable-rate mortgages (ARMs) Annual Percentage Rate (APR) data point edits and message changes will be implemented in the Loan Closing Advisor production and customer test environment (CTE) on March 15 to help you resolve potential critical issues prior to May 1, 2023.
The March 15 Loan Closing Advisor release notespdf(Opens a new window) include edits and messages that are being modified, added or removed.
We also updated the Loan Closing Advisor Critical Edits Phase 3 Training Module(Opens a new window) to provide additional insights.
Recently Updated Resources
- Loan Closing Advisor February 22 Release Notespdf(Opens a new window) - General additions, removals and updates of messages for UCD Critical Edits Phase 3.
- Updated Loan Closing Advisor Feedback Message Documentxlsx(Opens a new window)
- Joint GSE UCD Critical Edits Phase 3 Feedback Message Mapping Document xlsx(Opens a new window)
- Joint GSE Job Aid: Feespdf(Opens a new window)
- Joint GSE Job Aid: Escrowspdf(Opens a new window)
- Joint GSE Job Aid: Qualified Mortgage Short Term Reset ARM APR Percentpdf(Opens a new window)
- Joint GSE Job Aid: Loan Discount Points and Lender Creditspdf(Opens a new window)
For more information on the UCD critical edits transition, visit the Freddie Mac UCD web page. Please contact your Freddie Mac representative for assistance or submit your questions to [email protected]