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Freddie Mac Publishes Uniform Loan Delivery Dataset Addendum

On September 23, Freddie Mac published the ULDD Addendum, which will shed light on its loan delivery requirements.

ULDD Addendum Provides Clarity and Alignment
September 23, 2014

Today we published the Q3 2014 Uniform Loan Delivery Dataset (ULDD) Addendum, which includes updates and clarifications to our loan delivery requirements.  You’ll find greater alignment between Freddie Mac and Fannie Mae (the GSEs) on items such as implementation notes, conditionality, and data point requirements.

Many of the addendum updates reflect changes we previously announced in Single-Family Seller/Servicer Guide (Guide) Bulletins, and some of them may require system coding changes, including the new data point changes highlighted below.  Please review the entire ULDD Addendum and share it with your technical staff and loan delivery team to determine if there are any process or system impacts.  You will find the addendum in Appendix A – Freddie Mac XML Data Requirements V3.4.0 [pdf], under Tab 9Q3-ULDDS Addendum issued 9-23-14.

  • Current HELOC Maximum Balance Amount (Sort ID# 511):  Beginning May 5, 2015, you will need to enter the HELOC maximum credit line as of the note date of the first lien mortgage.  If the maximum credit line has been modified, you will need to deliver the modified maximum amount, even if the modified maximum credit line amount has been reduced to less than the disbursed HELOC amount entered in ULDD data point HELOC Balance Amount (Sort ID# 512).

Please note that if you manually enter your loan data, you will need to follow the instructions above. See Guide Section 17.42 for more information.

  • Appraiser License Identifier (Sort ID# 525): The implementation notes have been updated to provide clarification on how to deliver the appraiser license identifier and the appraiser supervisor license identifier when the appraiser is a trainee.

Please note that Fannie Mae recently announced that their ULDD Phase 2 mandate is targeted for late second quarter 2016; the Application Received Date for collecting the new ULDD Phase 2 data points remains March 1, 2014.

Phase 3 Update

ULDD Phase 3 to support the Consumer Financial Protection Bureau’s rule implementing the “ability to repay” (ATR) provisions of the Truth-in-Lending Act, (as amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act) remains on hold as the GSEs analyze potential impacts of the Uniform Closing Dataset initiative.

Selling System Tutorial

Beginning October 20, you can review the Selling System Updates, 4th Quarter 2014 Tutorial on the Learning Center to find out more about recent system updates, tips, and best practices.

If you have questions about the ULDD Addendum, please contact your Freddie Mac representative.

Resources
Appendix A [pdf] – Freddie Mac XML Data Requirements V.3.4.0 
Appendix D [xls] – Freddie Mac XML Data Requirements Reference Tool V.3.4.0 in Excel format for easy sorting and organizing

Please click here to view the announcement online.

About Safeguard 
Safeguard Properties is the largest mortgage field services company in the U.S. Founded in 1990 by Robert Klein and based in Valley View, Ohio, the company inspects and maintains defaulted and foreclosed properties for mortgage servicers, lenders, and other financial institutions. Safeguard employs approximately 1,700 people, in addition to a network of thousands of contractors nationally.
Website: www.safeguardproperties.com.

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CEO

Alan Jaffa

Alan Jaffa is the Chief Executive Officer for Safeguard Properties, steering the company as the mortgage field services industry leader. He also serves on the board of advisors for SCG Partners, a middle-market private equity fund focused on diversifying and expanding Safeguard Properties’ business model into complimentary markets.

Alan joined Safeguard in 1995, learning the business from the ground up. He was promoted to Chief Operating Officer in 2002, and was named CEO in May 2010. His hands-on experience has given him unique insights as a leader to innovate, improve and strengthen Safeguard’s processes to assure that the company adheres to the highest standards of quality and customer service.

Under Alan’s leadership, Safeguard has grown significantly with strategies that have included new and expanded services, technology investments that deliver higher quality and greater efficiency to clients, and strategic acquisitions. He takes a team approach to process improvement, involving staff at all levels of the organization to address issues, brainstorm solutions, and identify new and better ways to serve clients.

In 2008, Alan was recognized by Crain’s Cleveland Business in its annual “40-Under-40” profile of young leaders. He also was named a NEO Ernst & Young Entrepreneur Of The Year® Award finalist in 2013.

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Esq., General Counsel and EVP

Linda Erkkila

Linda Erkkila is the General Counsel and Executive Vice President for Safeguard Properties, with oversight of legal, human resources, training, and compliance. Linda’s broad scope of oversight covers regulatory issues that impact Safeguard’s operations, risk mitigation, strategic planning, human resources and training initiatives, compliance, insurance, litigation and claims management, and counsel related to mergers, acquisition and joint ventures.

Linda assures that Safeguard’s strategic initiatives align with its resources, leverage opportunities across the company, and contemplate compliance mandates. She has practiced law for 25 years and her experience, both as outside and in-house counsel, covers a wide range of corporate matters, including regulatory disclosure, corporate governance compliance, risk assessment, compensation and benefits, litigation management, and mergers and acquisitions.

Linda earned her JD at Cleveland-Marshall College of Law. She holds a degree in economics from Miami University and an MBA. Linda was previously named as both a “Woman of Influence” by HousingWire and as a “Leading Lady” by MReport.

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COO

Michael Greenbaum

Michael Greenbaum is the Chief Operating Officer of Safeguard Properties, where he has played a pivotal role since joining the company in July 2010. Initially brought on as Vice President of REO, Mike’s exceptional leadership and strategic vision quickly propelled him to Vice President of Operations in 2013, and ultimately to COO in 2015. Over his 14-year tenure at Safeguard, Mike has been instrumental in driving change and fostering innovation within the Property Preservation sector, consistently delivering excellence and becoming a trusted partner to clients and investors.

A distinguished graduate of the United States Military Academy at West Point, Mike earned a degree in Quantitative Economics. Following his graduation, he served in the U.S. Army’s Ordnance Branch, where he specialized in supply chain management. Before his tenure at Safeguard, Mike honed his expertise by managing global supply chains for 13 years, leveraging his military and civilian experience to lead with precision and efficacy.

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CFO

Joe Iafigliola

Joe Iafigliola is the Chief Financial Officer for Safeguard Properties. Joe is responsible for the Control, Quality Assurance, Business Development, Marketing, Accounting, and Information Security departments. At the core of his responsibilities is the drive to ensure that Safeguard’s focus remains rooted in Customer Service = Resolution. Through his executive leadership role, he actively supports SGPNOW.com, an on-demand service geared towards real estate and property management professionals as well as individual home owners in need of inspection and property preservation services. Joe is also an integral force behind Compliance Connections, a branch of Safeguard Properties that allows code enforcement professionals to report violations at properties that can then be addressed by the Safeguard vendor network. Compliance Connections also researches and shares vacant property ordinance information with Safeguard clients.

Joe has an MBA from The Weatherhead School of Management at Case Western Reserve University, is a Certified Management Accountant (CMA), and holds a bachelor’s degree from The Ohio State University’s Honors Accounting program.

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Business Development

Carrie Tackett

Business Development Safeguard Properties