What do the designations “Required,” “Conditionally Required,” and “Conditionally Independent,” and “Optional” mean?
Within the ULDD, the data points are divided into four categories: • Required: Data points that are required for all loan delivery transactions, regardless of the GSE. • Conditionally Required: Data points that are required for all loan delivery transactions when a defined business condition exists (e.g., ARMs). These conditions are consistent for each of the GSEs’ loan delivery applications. • Conditionally Independent: GSE-specific data points that are required for all loan delivery transactions when a defined business condition exists. These conditions are not consistent for both GSEs’ delivery applications. • Optional: These data points are for future use and will not be required for loan delivery effective March 19, 2012. The GSEs will provide additional details as soon as possible on the data points that will be required in subsequent phases.
