GSEs Reduce UCD Requirements After Industry Feedback
July 6, 2018
After industry feedback, Fannie Mae and Freddie Mac decided to reduce the amount of seller data required on the Uniform Closing Dataset. The UCD is part of an ongoing effort by the GSEs to create a common industry dataset to support the Consumer Financial Protection Bureau’s Closing Disclosure form. The GSEs said they’ve spent the past several months working with the industry to understand the challenges lenders have collecting certain seller-specific closing data elements.