Today is the day! Effective November 7 at 12:01 am ET, UCD Phase 3 critical edits and QM Short Reset ARM APR Percent data point warning edits are available for testing in the Loan Closing Advisor® customer test environment (CTE). The identical Phase 3 edits have been added as warnings and are available in Loan Closing Advisor’s production environment.

These new and revised messages will help you prepare your systems to meet the implementation mandate of May 1, 2023. Fannie Mae’s UCD closing solutions have also been updated.

Take note of the following Loan Closing Advisor Phase 3 milestones to ensure your organization’s readiness:

Deployment of Phase 3 Edits in Loan Closing Advisor Warning Edits Critical Edits
CTE October 13, 2022 November 7, 2022
Production October 22, 2022 May 1, 2023

Confirm with your software partners that you have the most up-to-date release supporting all UCD critical edits for Phase 3.

Additional Loan Closing Advisor Resources

Ensure you’re checking the Loan Closing Advisor and UCD pages for the most recent resources to help your organization prepare for upcoming changes:

New and Recently Updated Resources

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].