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CORRESPONDENT – Credit Policy – UCD Critical Edits Phase 2 Rev.

Effective March 31, 2022

Updated March 17, 2022

Starting July 31, 2021, Fannie Mae and Freddie Mac began converting certain UCD edits from “warning” to “fatal” in four phases ending on March 31, 2023. Phase 2 is set for release on March 31, 2022.

Phase 2 will consist of the below updates:

  • Loan Terms
  • Projected Payments
  • Cash to Close (Refinances – Alternate Form only)
  • Summaries of Transactions (Borrower’s Transaction – Model Form only)

The UCD Collection Solution issues a “warning to fatal” message if the data provided is missing, inconsistent, or incorrect according to the UCD specification. Once a datapoint has transition to “Fatal” sellers will be required to remediate quality issues before receiving a successful UCD submission result, which is required for delivering the loan to either GSE.


Please see below for resources regarding UCD Critical Edits:

Lender Readiness Checklist

UCD Critical Edits Fact Sheet

UCD Critical Edits Implementation Guide

If you have any questions regarding this announcement, please contact your Account Executive or Lender Support.

Thank you, Lender Support LenderSupport@onqfinancial.com

About the Author On Q Financial, Inc.