To ensure Fannie Mae and Freddie Mac (GSE) compliance, Gateway will require that Correspondents submit Uniform Closing Dataset (UCD) files to both GSEs and provide evidence of a successful submission via the UCD Findings Reports. This requirement applies to all conventional loans with a Note dated on or after September 25, 2017.
Gateway Document Requirements for UDC are noted as follows:
First be sure your Loan Origination System is prepared to deliver the Agency (Fannie Mae and Freddie Mac) required XML files.
Fannie Mae Admin work to complete in advance of the September 25, 2017 deadline.
- Fannie Mae Seller Servicers – Register for UCD Access.
- Fannie Mae Non-Sellers – Must have registered for UCDP and CU to register with UCD.
- Remember, some of the registration may take time, don’t wait until the last minute.
Fannie Mae Relationship Establishment to complete in advance of the September 25, 2017 deadline.
- Select your Relationship with Gateway Mortgage Group, LLC – Seller Servicer # 26817.
- Once you have selected, Gateway will be checking regularly and accept the relationship.
Freddie Mac work to complete in advance of the September 25, 2017 deadline.
- Freddie Mac collects UCD file through Loan Closing Advisor.
- Users must have Loan Product Advisor access to select Loan Closing Advisor.
Gateway will require the following for all loans submitted with a Note Date on and after September 25, 2017:
- Applicable for all Conforming and High Balance Conventional loans.
- Clients must submit the Final UCD file to Fannie Mae and Freddie Mac in their respective XML files.
- Clients must print and deliver successful UCD Summary Reports for Fannie Mae and Freddie Mac without fatal errors or critical warning messages in the Closing Package sent to Gateway.
- Any updated Final Closing Disclosures require the UCD file to be resubmitted to Fannie Mae and Freddie Mac within 90 days after the Note date, and the Fannie Mae and Freddie Mac updated successful UCD Summary Reports must be sent to Gateway.
Please direct any questions to your Regional Sales Manager