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Fannie Mae Releases Uniform Closing Dataset

Friday, July 28, 2017   (0 Comments)
Posted by: Louise Haas
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The link below is to information Fannie Mae has released about the uniform closing data set lenders will need to provide Government Sponsored Enterprises (GSE).  Starting early next year, borrower Closing Dataset (CD) information must be sent to the GSEs as part of the Uniform Closing Dataset (UCD).  Near the end of 2018, Seller CD information will also be required from lenders.  As the implementation period for these requirements gets closer, the title industry is seeking more information;

 

  1. Is the Fannie Mae Uniform Closing Dataset something presently being discussed in our state?

  2. Have members heard from lenders about UCD?

  3. Are lenders asking title companies for any additional information (or information in a specific format) in order to comply UCD requirements?

  4. Is there concern about lenders providing accurate title insurance costs to the GSEs?

  5. Is there additional information from vendors or lenders that would be helpful for members?

 https://c.ymcdn.com/sites/njlta.site-ym.com/resource/resmgr/docs/ucd-user-guide.pdf