What is UCD?

The Uniform Closing Dataset (UCD) is a common industry dataset that supports the Consumer Financial Protection Bureau’s (CFPB) Closing Disclosure which is part of the Uniform Mortgage Data Program (UMDP). It is an upcoming requirement of Fannie Mae and Freddie Mac at the direction of their regulator, the Federal Housing Finance Agency. The GSEs will require a UCD XML file for all loans having a note date on or after Sept. 25, 2017. When applicable, we anticipate that most conforming loan investors, whether planning to immediately deliver to the GSEs or aggregating for a later loan delivery, will require an originating lender to submit the UCD file to both Fannie and Freddie and receive the UCD Findings Reports from both GSEs as a condition of their loan approval to ensure the upload was successful to both GSEs and the Casefile ID is correct for the loan.



Click here to access our complete guide on the UCD and PPDocs.

HOW DOES THIS AFFECT ME?

Do you have loans purchased by investors?
Will you be originating loans on or after Sept. 25 2017?
If you answered yes to any of the above questions, it will affect you. Beginning September 25, 2017, both Fannie and Freddie will require the originating lender to submit a UCD Findings Report as a condition of their approval. We strongly believe that most loan investors will follow suit and require a UCD file as well. If you sell your loans on the secondary market to any investor, you need a solution in place today!



THE SOLUTION

PPDocs workflow UCD TRID PPDocs

PPDocs is an approved Technology Solution Provider (TSP) with Fannie and Freddie!

UCD file as part of our normal document preparation
Leverage our technology platform to help verify salability and reduce risk
Automated preparation and delivery to the GSEs
Centralized workflow for GSE feedback
Available as standalone solution!
Freddie Mac Vendor List      Fannie Mae Vendor list




PPDocs UCD flow



HOW TO

Want to be able to submit an existing loan file for UCD? Here are some easy ways to begin:


1. Open an existing loan (Please remember, UCD does not apply to FHA, VA, or USDA)
and navigate to the Loan Information or Loan Setup (If using LE or CD only order form)
screen and select Yes to the UCD question.



2. Select the Underwriting Type, for example if you used Desktop Underwriter
you would use Automatic, Desktop Underwriter and enter in the Case ID that
was given to you at underwriting.




3. On the Closing Cost Details screen you will need to ensure the Fee Type is
entered correctly for each fee, same goes for Prepaids, and Escrow Types
(Please note: If you do not find a match, you can select Other).




4. On the Summaries of Transaction/Payoffs and Payments screen is one of the biggest changes.
You will need to click on the numbers next to the line in order to make changes to the field.
(For detailed instructions please see our What is the UCD guide)



5. Once you have submitted the file and have received an order number,
you will be able to submit to Fannie and Freddie.




6. If this is your first time submitting a file to the GSEs and have not entered
credentials, you will need to select Update Account with Credentials.
These would be credentials provided by the GSEs
(Once you have input credentials you can update them within your Account).




7. Now you are ready to submit the UCD, click Submit and wait for the UCD
to be generated and the findings downloaded. Click View Findings to ensure
everything was successful and correct any errors within the order form if needed.









These are quick steps on how to submit a file, for a more detailed walk thru please click below:

FULL GUIDE



FAQ

Do I need my own Fannie Mae and Freddie Mac User ID and password to submit?
Yes, each lender will need an account with UCD submit access enabled. For more information please visit the respective GSEs website (Please note, for direct integration with Freddie Mac, you will need to request System to System credentials):
Fannie Mae
Freddie Mac
I am not seeing the ability to enable UCD on FHA, VA or USDA loans.
The UCD requirement only applies to Conventional loans.
I don't sell directly to Fannie or Freddie, do I still need UCD?
When applicable, we anticipate that most conforming loan investors, whether planning to immediately deliver to the GSEs or aggregating for a later loan delivery, will require an originating lender to submit the UCD file to both Fannie and Freddie and receive the UCD Findings Reports from both GSEs as a condition of their loan approval to ensure the upload was successful to both GSEs and the Casefile ID is correct for the loan.
Will PPDocs be ready to embed the PDF with the UCD XML by April 2018?
While the GSEs have delayed the requirement for the PDF to be included in the submission. PPDocs has already implemented this feature ahead of schedule.
Does PPDocs have training material available?
Yes, we have a short video available here: YouTube Video and a detailed PDF available here: What is UCD PDF
How do I submit a revised UCD File to the GSEs?
PPDocs will store the original CaseFile ID generated by the GSEs. Once you have gone into the order form and saved your changes, you can follow the same steps to submit the UCD file to the GSEs.
I am getting data quality errors?
The GSEs will give errors when certain data elements do not meet their specific requirements. Depending on the error, you will need to go back into the PPDocs order form and correct the errors and resubmit to the GSEs. If there is an error you are not able to correct, please email support@ppdocs.com for assistance.

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