Uniform Closing Dataset (UCD) Specification - Fannie Mae

1 Uniform Closing Dataset (UCD) Specification Issued by Fannie Mae and freddie Mac Appendix E: UCD Implementation Guide Document Version December 11, 2018 In support of the Integrated Mortgage Closing Disclosure under the Real Estate Settlement Procedures Act (Regulation X) and the Truth in Lending Act (Regulation Z) Issued by the CONSUMER FINANCIAL PROTECTION BUREAU Published in the Federal Register on December 31, 2013 and all subsequent amendments and corrections: 83 FR 19159 (May 2, 2018) 82 FR 37656 (August 11, 2017) 81 FR 7032 (February 10, 2016) 80 FR 80228 (December 24, 2015) 80 FR 43911 (July 24, 2015) 80 FR 8767 (Feb. 19, 2015) 80 FR 43911 (July 24, 2015) 80 FR 80228 (December 24, 2015) This document relates to the Uniform Mortgage Data Program , an effort undertaken jointly by freddie Mac and Fannie Mae at the direction of the Federal Housing Finance Agency. 2018 freddie Mac and Fannie Mae.

2 All Rights Reserved. MISMO is a registered trademark of the Mortgage Industry Standards Maintenance Organization. Unifo rm Closing Dataset Revision History Appendix E: UCD Implementation Gui de Page 2 of 254 Version R E VI S I ON H I S T OR Y Tabl e 1. Appendix E Revi sion History Date Version Number Revision Description December 11, 2018 Changes to thi s document fall i nto the fol lowing four categories: Updates driven by TILA/RESPA Integrated Di sclosure Regul ation amendment o Exempti on of di scount points from Reg Z poi nts & fees : To Support ATR and QM Requi rements Changes to reflect revised property s eller data delivery requirements Correcti ons and revisions to align with Appendix I, o Change to form fi el d name reference i n Appendix I for GSE data points General edi ting that did not change i nformation i s not noted o In Appendix I excerpts, changed column heading to MISMO Context and reduced XPath l ength Changed Sections, Subsections or Tables are noted with UPDATED or NEW labels.

3 Changed text i s highlighted in l ight yel low. March 31, 2017 Revi s ions to align wi th Appendix I updates and May 31, 2016 Maj or revisions for clarity, conciseness and accuracy based upon updates to UCD Speci fication since 7-17-2014 Addi ti on of the fol lowing s ubsections to each Section: o Cl os ing Di sclosure Types using the s ection o A. Mappi ng Guidance reorganized to be i ncluded, i f applicable, under Appendix I excerpts . o For More Information instead of footnotes throughout the text, thi s s ection provi des the Reg references by Form Field ID for the s ection. Intra-form cross referencing hyperlinks have been added throughout the document and are i denti fied by blue underlined text June 30, 2015 Integration of new data points added to the UCD Dataset s ince i nitial publication of thi s document i n July 2014 Added s ecti on describing XML fi le payload s tructures Added s ecti on on GSE-Required data Added s ecti on on Split Di sclosures July 15, 2014 Ini ti al version Unifo rm Closing Dataset Table of Contents Appendix E: UCD Implementation Gui de Page 3 of 254 Version T AB L E OF CONT E NT S Revision His tory.

4 2 Tabl e of 3 I. Introducti on .. 9 A. 9 B. Purpos e .. 9 II. Document Structure .. 11 A. Documentati on Conventions .. 11 B. Document Organi 13 III. Cl osing Discl osure Variati ons 15 A. Model Form .. 16 B. Spli t Disclosures - UPDATED .. 17 1. Closi ng Discl osure Borrower Onl y ..17 2. Closi ng Discl osure Sell er Only - UPDATED ..17 C. Al ternate Form .. 18 1. For More Informati on ..18 IV. UCD Data Poi nt Categori es .. 19 A. Closi ng Discl osure Data Poi nts .. 19 1. General Us e 2. Document Speci fic 3. Mutuall y Excl usive Data 4. Variabl e Form Fi el d 5. Stati c Boil erplate ..22 6. Dynamic Boil erplate ..22 7. Potential Si gn Conflicts - UPDATED ..22 B. GSE Speci fic Data Points .. 23 1. To Support ATR and QM 2. To Support Cross-UMDP Loan Identi ficati 3. To Support Data Clari C. XML-Required Data 24 1. To Identi fy the XML Fil e ..24 2. To Identify the File s 3. To Support UCD Requirements Not i n MISMO.

5 24 4. To Support Data Relationshi ps ..25 5. Appendix I Cl osing Informati on .. 30 Date Issued .. 30 Cl osing Date .. 31 Dis burs ement Date .. 31 Settl ement Agent .. 31 Fil e # .. 32 Property .. 32 1. Compl ete Street Address ..33 2. Legal Descripti on and Pos tal Code ..33 3. Pers onal Property (Opti onal )..34 Sal e Price / Apprais ed Prop. Val ue / Es ti mated Prop. Val 35 1. Sal e Price (Purchas e Transacti on) ..35 2. Apprais ed Prop. Val ue / Es ti mated Prop. Val ue (Non-Sell er Transacti on)..36 B. For More Informati on .. 37 Unifo rm Closing Dataset Table of Contents Appendix E: UCD Implementation Gui de Page 4 of 254 Version Transaction Informati on .. 38 Borrower .. 38 1. Indivi 2. Legal Enti 3. Mailing Address ..40 Sell er (Purchas e Transacti on) .. 40 1. Indivi duals ..40 2. Legal Enti Lender .. 42 A. For More Informati on .. 42 Loan Informati on .. 44 Loan Term.

6 44 1. Fixed Loan Term ..44 2. Extendibl e Loan term ..45 3. Cons tructi on Purpos e .. 47 1. For More Informati on ..48 2. Purchas 3. Refi nance ..49 4. Cons tructi on ..50 5. Home Equi ty Loan ..51 52 1. Mappi ng Guidance ..52 Loan Type .. 52 1. Conventional , FHA, or 2. Other ..53 Loan ID# .. 55 Mapping Gui dance ..56 MIC # .. 57 1. Pri vate Mortgage Ins urance ..57 2. Government Ins 3. For More Informati on ..58 Loan Terms .. 59 Loan Amount .. 60 Can this Amount Increas e after Cl osing? ..60 Loan Amount Increas e Interes t Rate .. 62 Interes t Rate Percent ..63 Can this Amount Increas e after Cl osing? ..64 Interes t Rate Increas e Terms ..66 Pri nci pal and Interes t .. 68 Principal and Interes t Payment Amount ..69 Can this Amount Increas e After Cl osing? ..70 P&I Payment increas e terms ..72 Prepayment Penal 74 Does the Loan Have thes e Features ? ..75 Ball oon Payment.

7 76 Does the Loan Have thes e Features ? ..76 Proj ected Payments Tabl e .. 79 Payment Calculation Secti on .. 80 Unifo rm Closing Dataset Table of Contents Appendix E: UCD Implementation Gui de Page 5 of 254 Version 1. Column Headings - Year Ranges ..80 2. Payment Ranges ..81 Pri nci pal & Interes 83 1. P&I Payment Does Not increas 2. P&I Payment Increas es ..84 Mortgage Insurance .. 90 1. MI Required ..90 2. MI Not Required ..91 Es ti mated Es crow .. 92 1. Es crow Account Exis ts ..93 2. Es crow Account Does Not Exis t ..94 Es ti mated Total Monthly Payment .. 95 1. One Payment per Year 2. Payment Range wi thin a Year Range ..95 Es ti mated Taxes , Insurance & Ass ess 97 | Total Peri odi c Payment Amount ..97 5 . 5 .6 .5 Property Charges Included i n ETI&A 1. For More Informati on .. 102 Cos ts at Cl osing ..103 A. For More Informati on ..103 Cl osing Cos ts ..104 1. Mappi ng Guidance.

8 104 Cas h to Clos Purchas e 105 Non-Sell er Transaction .. 105 - Closing Cos t Details Tabl es Overvi ew - a. Tabl e Column and Row Des cri ptions ..108 B. Subcategori es ..108 C. Categori es ..109 D. Line Items ..109 Loan Cos ts Tabl e ..110 A. Category and Subcategory 1. Mappi ng Guidance .. 112 B. Line Ori gination Loan Discount Poi nts UPDATED .. 113 Compensati on of a Third-Party Loan Ori ginator .. 114 C. Line Item Data ..114 1. Mappi ng Guidance .. 116 Services Borrower Di d Not Shop Services Borrower Di d Shop D. For More Informati on UPDATED ..122 Other Cos ts Tabl e ..123 A. Category and Subcategory 1. Mappi ng Guidance .. 125 Taxes and other Government | Recording Fees and Transfer 1. Mappi ng Guidance .. 128 Prepai ds ..128 Prepai d Interes t ..130 Unifo rm Closing Dataset Table of Contents Appendix E: UCD Implementation Gui de Page 6 of 254 Version 1.

9 Mappi ng Guidance .. 132 Ini tial Es crow Payment at Closi ng ..133 Aggregate Adj us tment ..134 1. Mappi ng Guidance .. 137 Other ..137 1. Mappi ng Guidance .. 143 B. For More Informati on ..143 Total Closi ng Cos A. Mapping Guidance ..147 B. For More Informati on ..147 Calculati ng Cas h to Clos e ..148 A. Calculating Cas h To Clos e Tabl e 10. 9 Li ne Item Defini ti ons for the Final 148 Cash to Cl os e .. 150 1. Mappi ng Guidance .. 154 2. For More Informati on .. 154 Al ternati ve Calculati ng Cas h To Clos e Tabl e ..154 Li ne Item Defi ni tions for the Final Amount ..155 Closing Cos ts Cash to Cl os e ..156 A. For More Informati on ..159 Summari es of Transacti ons - A. Li ne Items - UPDATED ..160 B. Totals and Subtotals - UPDATED ..160 C. For More Informati on ..161 K. Due from Borrower at Cl | Sal e Price of Property | Sal e Price of any Pers onal Property Incl uded.

10 163 1. Contract ei ther Does Not Incl ude or does not i temi ze Pers onal 163 2. Contract Itemi zes Real and Personal Property Amounts .. 164 Closing Cos ts Paid at Closing (J) ..165 Borrower Payoffs and Adjus tments - Adjus tments for Items Pai d by Sell er in A. For More Informati on ..170 L. Paid Already by or on Behal f of Borrower at Cl osing ..171 Deposi t ..172 Loan Existi ng Loan(s) Ass umed or Taken Subj ect To ..173 Borrower Funds from Second Loan ..173 Borrower s Satisfaction of Seller s Lien ..174 Sell er Credi t ..175 Other Credi ts ..176 Adjus Adj us tments for Items Unpai d by Sell er A. For More Informati on ..180 Calculation (Borrower s Transaction)..181 | Line Items (Section K and L SubTotals) ..181 Total Cas h to Clos e From or To the A. For More Informati on ..182 M. Due to Sell er at Cl osing - REMOVED ..183 Unifo rm Closing Dataset Table of Contents Appendix E: UCD Implementation Gui de Page 7 of 254 Version N.