Updated Uniform Closing Dataset (UCD) Critical Edit Resources

Based on industry feedback, Freddie Mac and Fannie Mae (the GSEs) made the following enhancements to the UCD Critical Edits Matrix and UCD Critical Edits Implementation Guide to provide additional guidance:

  • Corrections to the closing disclosure form references and matrix format.
  • Updates to explanations of the rules/logic to match UCD conditionality.
  • Updates to reflect additional data quality edits for certain Qualified Mortgage (QM)-related data points. These changes (as well as any critical edit requirements that differ from v1.5 of the UCD Spec) are included in an upcoming Impact Memo to be released on February 15.

We recommend preparing for Phase 2 and the remaining phases by referring to the resources available on our UCD page.

Loan Closing Advisor® February Release Reminder

The Loan Closing Advisor® updates we announced on January 20 will be live on February 11, 2022. These updates include changes to certain existing data quality edits and critical feedback messages and a new warning message related to Regulation Z Total Points and Fees. The updates will be available in the Loan Closing Advisor customer test environment (CTE) on the same date.

These updates are important because inaccurate information provided in these datapoints may prevent a loan from being eligible for sale to Freddie Mac.