Visionet Systems, a provider of technology solutions and business process outsourcing services, has completed file validation to enable submission of electronic loan data to Fannie Mae’s Uniform Closing Dataset (UCD) collection solution.
According to Visionet, its CD2UCD simplifies the delivery process by automatically generating the UCD from existing loan documents. It manages creation, validation and delivery of the UCD and ensures compliance with each government-sponsored enterprise’s current and future requirements, the company says.
Visionet adds that the CD2UCD is configured to embed a PDF file within the UCD and incorporate sellers’ disclosures, ahead of the respective 2018 deadlines for those features. The CD2UCD also handles many common challenges, such as different closing disclosure (CD) and addendum formats and inconsistent terminologies between the CD and MISMO, as well as validates UCDs created by other vendors.
“Our CD2UCD solution facilitates UCD compliance when a lender’s loan origination system or document preparation provider can’t perform this task, when the underlying CD data is not available, or when documents are of poor quality,” says Arshad Masood, CEO at Visionet Systems. “It also mitigates the risk of the embedded CD document image not matching the UCD XML data.”