February 10, 2025
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By The Single-Family Team, Freddie Mac
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Our Single-Family News Center article provides you with information on the following: preparing for the Uniform Loan Delivery Dataset (ULDD) Phase 2; ULDD specification updates, including the removal of Appendix E-MISMO Version 3.0 Reference Model with GSE Extensions; Qualified Mortgage requirements; and Fannie Mae's implementation of ULDD Phase 2. As you prepare for ULDD Phase 2, you should now be completing your data point analysis.
Freddie Mac and Fannie Mae announced on December 13, 2012, the Phase 2 ULDD data requirements for all loans with Application Received Dates on or after March 1, 2014, and delivered on or after August 25, 2014. While Fannie Mae recently announced a delay to their timeline for the Phase 2 ULDD implementation in their Loan Delivery system, Freddie Mac is not making changes to the ULDD Phase 2 requirements timeline.
Are you getting ready for the Phase 2 Uniform Loan Delivery Dataset (ULDD)? It’s critical that you start your planning process now to ensure that you’re fully prepared for the implementation.
Today, Freddie Mac and Fannie Mae (the GSEs) have published the Phase II specification for the Uniform Loan Delivery Dataset (ULDD). The ULDD is a component of the Uniform Mortgage Data Program® (UMDP®), an ongoing effort by the GSEs, at the direction of the Federal Housing Finance Agency (FHFA), to enhance the accuracy and quality of loan data each GSE requires at loan delivery.
On Monday, April 23, 2012, you will see an updated version of the selling system that reflects the Uniform Loan Delivery Dataset (ULDD)-named fields and layout. To ensure that you’re ready for the update, you need to be aware that the selling system will look significantly different and that there are several topics that you need to review to fully prepare for the changes.
Given increased defaults and declining property values in certain locations, the mortgage industry is experiencing an increase in short payoffs, sometimes called short sales. In fact, over the last two years, short payoff volume at Freddie Mac has grown more than 1,000 percent (2007-2009) leaving the market ripe for incidences of short payoff fraud.
Through our on-the-ground Borrower Help Centers and national Network, we work with trusted national nonprofit intermediaries to support Freddie Mac’s ongoing commitment of preparing prospective buyers for responsible homeownership.
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