March 29, 2011
NUMBER: 2011-6
TO: Freddie Mac Sellers
SUBJECT: UNIFORM LOAN DELIVERY DATASET UPDATES
In a December 16, 2010 Single-Family Advisory e-mail, we provided updated implementation dates and requirements on the Uniform Mortgage Data Program. With this Single-Family Seller/Servicer Guide (“Guide”) Bulletin, we are updating the Guide to reflect those revised requirements and providing additional information regarding our Uniform Loan Delivery Dataset (ULDD) implementation dates and delivery requirements.
We are also announcing a transition period to help our Sellers as they implement ULDD requirements, and providing additional information for Sellers and Document Custodians about fields required for loan certification.
EFFECTIVE DATES
Bulletins 2010-15 and 2010-18 stated that the delivery requirements based on the MISMO® Version 3.0 Reference Model (“MISMO v3.0”) provided in the ULDD would be effective for all Mortgages delivered to Freddie Mac on or after September 1, 2011.
As previously announced on December 16, 2010, we are revising the ULDD effective date to provide Sellers with greater flexibility and to align with effective dates announced in Bulletin 2010-31 for the Uniform Appraisal Dataset (UAD) and the Uniform Collateral Data Portal (UCDP):
- December 1, 2011 – Sellers must collect the new ULDD data points required for the initial implementation phase (“Phase I implementation”) for all Mortgages with applications dated on or after December 1, 2011
- March 19, 2012 – For all Mortgages delivered to Freddie Mac on or after March 19, 2012, data must be delivered in the MISMO v3.0 format and, if the Mortgage application date is on or after December 1, 2011, the delivery must include the required ULDD data points
Mortgages with applications dated prior to December 1, 2011, that are delivered to Freddie Mac on or after March 19, 2012, must be delivered in the MISMO v3.0 format, but need to include only the data equivalent to what is captured on Guide Form 11, Mortgage Submission Schedule, or Form 13SF, Mortgage Submission Voucher. Forms 11 and 13SF will be retired for submission and delivery of singlefamily Mortgages on March 19, 2012.
TRANSITION PERIOD
To assist our Sellers in transitioning to the ULDD requirements, we are announcing a transition period that begins on January 23, 2012 and ends on March 19, 2012. Please note the following:
- The Freddie Mac Selling System (“Selling System”) will be updated with the new ULDD-named fields and layout on January 23, 2012
- Sellers that manually enter or modify loan data in the Selling System may continue to do so; however, they must enter the data into ULDD-named fields
- Sellers may import data into the Selling System using either the new MISMO v3.0 format or the Form 11 or Form 13SF file formats, which will be converted automatically into MISMO v3.0 format for delivery in the Selling System
- Data exported out of the Selling System will be in MISMO v3.0 format
Regardless of whether Sellers deliver in the Form 11/13SF or MISMO v3.0 format, the Document Custodian will certify loans based on the ULDD data points using ULDD-named fields. Refer to the section titled “Document Custody Procedures Handbook Revisions Supporting MISMO Changes” in this Bulletin for more information on the fields required for loan certification.
REVISED SCOPE OF DELIVERY REQUIREMENTS
In response to Seller feedback about the scope of the ULDD requirements, the number of data points that will be required in Phase I implementation of the ULDD has been reduced; however, these changes are consistent with the structure and goals of the ULDD. For Mortgages with applications dated on or after December 1, 2011 that are delivered to Freddie Mac on or after March 19, 2012, the delivery data must include the following Phase I implementation data points:
- The ULDD data points that map to existing delivery requirements (Freddie Mac Form 11 or 13SF and/or Fannie Mae’s current datasets)
- 53 additional ULDD data points that are critical for improved loan data quality and investor processing
Note: The remaining ULDD data points that are not required in Phase I implementation will be required in subsequent implementation phases.
Freddie Mac Implementation Guide for Loan Delivery Data
The Freddie Mac Implementation Guide for Loan Delivery Data (“Freddie Mac IG-LD”) comprises the specific requirements for implementing the ULDD components applicable to Mortgages delivered to Freddie Mac, as well as essential reference tools that assist technical developers with creating an Extensible Markup Language (XML) schema file in accordance with MISMO v3.0. The Freddie Mac IGLD resources are located under the Technical Resources tab on the ULDD page of our web site at
http://www.freddiemac.com/sell/secmktg/uniform_delivery.html.
Appendix A, XML Data Requirements, Version 1.0.4, of the Freddie Mac IG-LD, provides the requirements for submitting Mortgages to the Selling System. Appendix A contains two sets of data requirements:
- Requirements for Mortgages with applications dated before December 1, 2011
- Requirements for Mortgages with applications dated on or after December 1, 2011
To facilitate analysis of the new loan delivery data requirements, Freddie Mac has also provided Appendix D, Freddie Mac XML Data Requirements Reference Tool. Appendix D is a sortable, mergeable Excel® document that includes the same list of data points that are in Appendix A.
Appendix A and Appendix D are located under the Technical Resources tab of the ULDD area of our web site.
We strongly recommend that Sellers periodically review the ULDD area of our web site to ensure that they obtain the most current version of the Freddie Mac IG-LD appendices and supporting documentation. To ensure notification of pertinent updates concerning the ULDD, Sellers should visit the Single-Family Business News Subscription Center at www.freddiemac.com/singlefamily/news/subscribe and subscribe to the Single-Family Update category of “Sell & Deliver.”
DOCUMENT CUSTODY PROCEDURES HANDBOOK REVISIONS SUPPORTING MISMO
CHANGES
The Document Custodian will continue to certify Mortgages based on the required data necessary to generate a Form 1034, Fixed-Rate Custodial Certification Schedule, or Form 1034A, ARM Custodial Certification Schedule. We have revised the Document Custody Procedures Handbook to add information reflecting the ULDD-named fields that will replace the Form 11/13SF data fields required for loan certification. Beginning January 23, 2012, regardless of whether Sellers deliver in the Form 11/13SF or MISMO v3.0 format, the certification will be completed using ULDD data field names.
The updated handbook is available on AllRegs® and at http://www.freddiemac.com/cim/handbook.html.
We will update the applicable Forms 1034 to reflect the ULDD changes in a subsequent Bulletin.
REVISIONS TO THE GUIDE
We are updating Guide Section 17.3, Delivery Requirements for All Mortgages, to reflect the effective dates for delivering the ULDD data points required for Phase I implementation using MISMO v3.0 loan delivery file formats.
In a subsequent Guide Bulletin, we will update Guide Exhibits 34A, Special Characteristics Codes Mapped to MISMO Data Points, and 34B, Other Delivery Codes Mapped to MISMO Data Points, to reflect the reduction in scope.
TRAINING AND RESOURCES
Freddie Mac remains committed to providing Sellers with the resources necessary for ULDD implementation. To that goal, we are offering webinar training to help ensure our Sellers have an understanding of the ULDD requirements, implementation guidelines, time lines and available resources. Sellers are urged to enroll in our new webinar, Get Ready for the Uniform Loan Delivery Dataset, through Freddie Mac's Learning Center. Information is available at
http://www.FreddieMac.com/ontrack/html/LearningCenter/ClassDescription.jsp?crsNum=ULDD.
Sellers should review the Learning Center web page at http://www.freddiemac.com/learn/uw/umdp.html and the ULDD area of our web site at http://www.freddiemac.com/sell/secmktg/uniform_delivery.html for additional ULDD training information and resources.
We will make additional tools available in the future to assist Sellers with implementation success.
CONCLUSION
If you have any questions about the changes announced in this Bulletin, please contact your Freddie Mac representative or call (800) FREDDIE, and select Delivery.
Sincerely,
Laurie A. Redmond
Vice President
Offerings Effectiveness
Please click here to view the online Bulletin
