Freddie Mac and Fannie Mae (the GSEs) have revised the timeline for the remaining Uniform Closing Dataset (UCD) Critical Edit transition phases to convert from “warning” to “critical”.

The GSEs recognized that several necessary updates to Qualified Mortgage (QM) data points in the first quarter of 2022 required industry attention that would otherwise have been focused on preparing for Phase 3. Therefore, the new implementation date for Phase 3 is May 1, 2023, and the Phase 4 transition is on November 6, 2023.

Read the joint GSE Revised UCD Critical Edit Transition Timeline announcement for more information on the deployment of warning edits and for steps that you can take to ensure your organization’s readiness in advance of each phase.