FHFA Delays ULDD Implementation

The Federal Housing Finance Agency (FHFA) has announced an extension of implementation dates for a key component of the Uniform Mortgage Data Program (UMDP) announced in May 2010, known as the Uniform Loan Delivery Dataset (ULDD). Industry participants have demonstrated continued support for the UMDP and the updated timeline will allow for a successful transition to the new loan delivery format. Specifically, the government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac will delay the voluntary implementation date to April 23, 2012 and will require loan delivery in the new format on July 23, 2012 instead of March 2012. The new timeline for the ULDD does not affect Uniform Collateral Data Portal effective dates. The UMDP initiative was designed to improve the consistency and quality of data for appraisals and other loan information.