A new loan delivery application for the Uniform Loan Delivery Dataset requirements has been launched.
The Federal Housing Finance Agency originally directed Fannie Mae and Freddie Mac to mandate that loan deliveries meet ULDD requirements as of March 19. The deadline was subsequently extended to July 23, 2012.
The initiative, which the FHFA called “a key component of the Uniform Mortgage Data Program,” created a common set of loan data delivery requirements for approved sellers to use with either secondary lender.
On Tuesday, Fannie said it launched the new loan delivery application to support ULDD requirements.
The web-based application allows loan submission for whole-loan sale and mortgage-backed securities pools, Fannie said. Loan and pool data can be imported, the applications can be edited and loans can be transferred between commitments or pools. In addition, loan deliveries can be tracked, reports can be generated and pool data can be exported.
The new application can be used for loans with application dates on or after Dec. 1, 2011.
The old loan delivery application won’t be available after July 20.
“Lenders have a 90-day window to begin delivering under the ULDD requirements in the new loan delivery application,” a notice from the Washington, D.C.-based lender stated. “The new loan delivery incorporates the new ULDD data fields required for manual entry or via import of the loan delivery XML file.”
Lenders can access the new delivery application page by visiting and entering their user ID and password.
Fannie is holding training webinars for loan delivery file import users and loan delivery data entry users.
Related:
Uniform Data Deadline Delayed
The implementation deadline for the Uniform Loan Delivery Dataset has been pushed back.
