UCD Critical Edits Transition Resources
GSEs publish the UCD v2.0 Specification
Fannie Mae and Freddie Mac (the GSEs) published the Uniform Closing Dataset v2.0 Specification (UCD v2.0) and supporting resources to provide additional clarity on UCD XML file requirements to help sellers improve data quality. Each GSE’s closing solution customer testing and production environments will be updated to support the v2.0 Spec and specification critical edits in 2025. Be sure to review UCD v2.0 and prepare for any necessary updates and testing.
In four phases, starting July 31, 2021, Fannie Mae and Freddie Mac (the GSEs) will convert certain edits in their Uniform Closing Dataset (UCD) collection solutions from “warning” to “critical/fatal.” Once a datapoint has transitioned to “critical/fatal,” lenders must remediate quality issues for that data before delivering the loan to either GSE. Review the resources below to help your organization get ready for this important transition.
Related Links
Questions?
Fannie Mae Resources
| Resource Name | Description |
|---|---|
| EarlyCheck and Loan Delivery Qualified Mortgage (QM) Edits Job Aid | Learn more about new Loan Delivery and EarlyCheck edits that are leveraging a number of required UCD data elements related to Revised General Qualified Mortgage (QM) Rule. We will utilize the UCD and Uniform Loan Delivery Dataset (ULDD) as provided to perform the checks at time of delivery. |
| Feedback Messages | Review feedback messages associated with the upcoming critical edits. |
| UCD Test Environment | Test your UCD XML files to resolve potential critical issues with data about to transition to "fatal." |
| Fannie Mae Connect™ Reports | Check the UCD Submissions and Findings Report in Fannie Mae Connect to see if warnings you receive are turning "fatal" in the next phase. |
Joint-GSE Resources
| Resource Name | Description |
|---|---|
| Critical Edits Matrix | Obtain details around the various phases, including the criteria of the required datapoint and the description of the rule. |
| UCD Critical Edits Implementation Guide | Review the details around the transitioning data along with portions of the relevant Closing Disclosure sections. |
| Specification Update Impact Memo | Review this Impact Memo for changes to the UCD Specification v1.5. |
| Joint GSE UCD Critical Edits Phase 3 Feedback Message Mapping | This document intends to align the critical/fatal feedback messages returned by each GSE’s collection solution at the data point level to further assist with UCD Phase 3 critical edit resolution. |
Job Aids
| Resource Name | Description |
|---|---|
| UCD Phase 3 Critical Edits Job Aid: Fees | The purpose of this document is to review sections of the CD (A. Origination Charges, B. Services Borrower Did Not Shop For, C. Services Borrower Did Shop For and H. Other Costs) and outline how the data in each section should be provided in the corresponding UCD XML file to avoid Phase 3 critical edits. |
| UCD Phase 3 Critical Edits Job Aid: Loan Discount Points and Lender Credits | The purpose of this document is to review the Loan Discount Points and Lender Credits requirements, as data points related to these items on the CD must be provided in the UCD XML file, even if they are zero. It also outlines how the data in each section should be provided in the UCD file to avoid triggering Phase 3 critical edits, as specified in the UCD Critical Edits Matrix (CEM) available on the Fannie Mae and Freddie Mac UCD webpages. |
| UCD Phase 3 Critical Edits Job Aid: Escrows | The purpose of this document is to review the Initial Escrow Payment at Closing Section, as data points related to these items on the CD must be provided in the UCD XML file. |
| UCD Phase 3 Critical Edits Job Aid: Qualified Mortgage Short Reset ARM APR Percent | The purpose of this document is to review the new data requirements for Qualified Mortgage (QM) Short Reset adjustable-rate mortgages (ARMs). |
| UCD Phase 3 Critical Edits Job Aid: Prepaids | The purpose of this document is to review the Prepaids Section, as data points related to these items on the CD must be provided in the UCD XML (UCD) file. |
| UCD Phase 3 Critical Edits Job Aid: Taxes and Other Government Fees | The purpose of this document is to review section E. Taxes and Other Government Fees, as data points supporting each field on the CD must be provided in the UCD XML (UCD) file. |
