The Government National Mortgage Association (Ginnie Mae) is joining Fannie Mae and Freddie Mac in adopting the Uniform Mortgage Data Program’s (UMDP) Uniform Loan Delivery Dataset (ULDD) for delivering loan information to the agencies. The adoption of ULDD standards will improve the consistency and quality of data Ginnie Mae receives from Issuers for originating mortgage-backed securities (MBS). Under this initiative, program participants will have one file layout to submit loan data to all three agencies.
“This effort is an important step toward meeting industry requests for uniformity in loan data,” said Ginnie Mae President Ted Tozer. “We believe incorporating one set of loan standards will lead to higher quality data, simplify the exchange of data, and lower costs for all participants in the mortgage finance industry, including borrowers.”
Ginnie Mae will begin contacting its program participants, no later than January 2011, to obtain their input on this effort before developing an implementation plan.
For more information, visit www.ginniemae.gov.