GSEs Standardize Data for Appraisals and Mortgages
Fannie Mae and Freddie Mac announced July 23 that they have fully adopted the Uniform Loan Delivery Dataset. ULDD falls under the larger Uniform Mortgage Data Program, a joint project the government-sponsored enterprises undertook to standardize data on appraisals and mortgages.
Sam Oliver, Freddie’s vice president of single-family customer and technology data offerings, called the adoption a “critical milestone.” The ULDD operates under the auspices of the Federal Housing Finance Agency, as do all joint GSE efforts.
“Lenders nationwide are using a ‘common language’ for the loans and appraisals they deliver to Freddie Mac and Fannie Mae,” Oliver said.
“This is the culmination of several years of hard work, investment and planning across the industry that we could not have accomplished without the collaboration and partnership of our customers, vendors and appraisers,” he said.
Oliver noted that the next phase of ULDD already is underway and will support expanded loan-level disclosure for their mortgage-backed securities.