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 notes include edits and messages that are being modified, added or removed.

We also updated the Loan Closing Advisor Critical Edits Phase 3 Training Module to provide additional insights.

Recently Updated Resources

• Loan Closing Advisor February 22 Release Notes - General additions, removals and updates of messages for UCD Critical Edits Phase 3.
• Updated Loan Closing Advisor Feedback Message Document
• Joint GSE UCD Critical Edits Phase 3 Feedback Message Mapping Document 
• Joint GSE Job Aid: Fees
• Joint GSE Job Aid: Escrows
• Joint GSE Job Aid: Qualified Mortgage Short Term Reset ARM APR Percent
• Joint GSE Job Aid: Loan Discount Points and Lender Credits

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]