With the implementation of new Uniform Closing Dataset (UCD) requirements rapidly approaching, lenders must be aware that as of June 25 the government-sponsored enterprises (GSEs) no longer will accept UCD submissions that trigger warning alerts.
The GSEs have advised lenders that they are required to submit the UCD XML file containing borrower data for all loans with a “Note Date” on or after Sept. 25, 2017, and must do so prior to delivery of the loan.
Find out what some of the most common errors are and what can be done to mitigate compliance risks they present.