MPF Program Reminds PFIs of UCD Critical Edits Phase I Implementation for Loans Delivered Under MPF XtraEffective Date: July 31, 2021
On August 11, 2020, Fannie Mae announced that they are implementing a two year transition to convert certain edits in their Uniform Closing Dataset (UCD) collection systems from “warning” to “critical.” As recently communicated in a joint GSE announcement on the topic, this transition will begin July 31, 2021.
Effective July 31, 2021, PFIs that are delivering loans under the MPF Xtra product should note that once a edit has transitioned to “critical,” the loans will be ineligible for MPF Xtra funding requests, as they will not have a successful UCD submission to accompany the funding request PFIs can gain additional insight into their current UCD related statistics, by logging into Fannie Mae Connect and checking their UCD Submissions and Findings Report.
In order to ensure a smooth transition, MPF is recommending PFIs to review their UCD activity prior to the July 31, 2021 effective date.
- MPF Announcement- 2021-46