Fannie Mae recently provided further guidance regarding the planned implementation timelines and updated specifications for its Uniform Loan Delivery Dataset (ULDD) Phase 2 initiative.
The most important fact to note is that Fannie’s Loan Delivery application will begin accepting the ULDD Phase 2 data points starting in Q1 of 2016. The Government Sponsored Enterprise (GSE) also has a targeted timeframe to begin enforcing the delivery of the new ULDD Phase 2 data points—specifically for all loans with an application received date on or after March 1, 2014—which is currently set for late Q2 of 2016.
For more information on the impending ULDD Phase 2 implementation, please click here.
You can also visit Fannie’s ULDD webpage for additional information and updates.
ULDD Phase 3 Update:
The ULDD Phase 3 initiative—which is designed to support the Consumer Financial Protection Bureau’s (CFPB) “ability to repay” provisions—currently remains on hold as both Fannie Mae and Freddie Mac continue to analyze its potential impacts on the Uniform Closing Dataset (UCD) initiative.
Fannie Mae – fanniemae.com