ULDD Phase 3 Implementation Readiness
Effective Date: May 20, 2019
PFIs are reminded that the implementation of ULDD Phase 3 is quickly approaching. Effective May 20, 2019, PFIs delivering loans for MPF Xtra or via “batch” for MPF Traditional and Government MBS, will be required to submit loan data formatted to the updated ULDD Phase 3 XML file. Please note, additional “batch” data delivery requirements for all products remain the same. At this point in the process, your team of experts should be fully engaged in preparing for the rollout of this update.
Please see the following link for additional details on the upcoming ULDD XML file: MPF Data Resources. This includes the updated Detailed Reference List document which outlines the required or conditionally required ULDD Phase 3 fields. PFIs may also refer to MPF Announcement 2019-13 (published on February 7, 2019) and MPF Announcement 2019-24 (published on April 19, 2019) for additional information related to the implementation of the ULDD Phase 3 file. You may start delivering files in the updated format anytime.
Currently, PFIs may submit loan data in either the Phase 2 or Phase 3 format; however, loans delivered on or after May 20, 2019, need to be submitted in the Phase 3 format.
Your readiness should include:
- Knowing when your LOS vendor is planning to update
- software to accommodate the updated ULDD Phase 3 file format and additional data points that are effective May 20, 2019.
- Understanding the method in which the ULDD Phase 3 LOS system update will be delivered by your vendor so the proper coordination and implementation can occur with your staff and the proper resources are allocated.
- Being familiar with the updated requirements and staff trained accordingly prior May 20, 2019.
If you think you may miss this deadline, or are concerned with system updates required to meet this mandate, please reach out to the MPF Service Center at 877-345-2673.
- MPF Announcement 2019-28