Your UMDP & UAD Update

Government sponsored enterprises (GSE), Fannie Mae and Freddie Mac are reminding interested parties that December 1, 2011, is a pretty important date for the Uniform Mortgage Data Program (UMDP). Going foward, Uniform Loan Delivery Dataset (ULDD) data points must be collected and submitted to the GSEs for loans delivered on or after March 19, 2012. If an appraisal report is required the report form must be submitted to the Uniform Collateral Data Portal (UDCP) for mortgages dated on or after December 1, 1012 and submitted to the GSEs on or after March 19, 2012. You can get more on this fun at Freddie Mac’s UMDP Web page or Fannie Mae’s UMDP Page.

in related news…

The US Department of Agriculture’s (USDA) Rural Development announced that the Uniform Appraisal Dataset will apply to the Single Family Housing Section 502 Guaranteed and Direct Loan Programs effective January 1, 2012. For those interested in knowing this means that UAD is required for loans insured by the Federal Housing Administration (FHA) and Rural Development and is optional for loans guaranteed by the US Department of Veterans Affairs (VA).