Announces Release of Enhanced UCD Functionality

 

Cincinnati, OH, March 23, 2017 – Paradatec, Inc. is pleased to announce their participation in next week’s MBA National Technology in Mortgage Banking Conference at the Hyatt Regency in Chicago, Illinois.  During the event, the company will be showcasing their new Uniform Closing Dataset (UCD) functionality.  “As announced by Fannie Mae and Freddie Mac, all loans acquired with a Note Date after September 24, 2017 will be required to include a MISMO-compliant UCD file of the Closing Disclosure data.  We have extended our existing TRID data extraction functionality to now include creating this UCD file, thereby allowing our clients to meet this requirement from the GSEs well before their deadline,” said Neil Fraser, Paradatec’s Director of US Operations.  Fraser continues, “And while data from the seller’s instance of the Closing Disclosure won’t be required until late 2018, our solution includes building that part of the UCD file as well so our clients have ample time to test and be confident in their compliance.  We encourage anyone interested in knowing more to stop by our booth.”  Paradatec staff will be available in booth #108 from Sunday, March 26 through Tuesday, March 28.

Paradatec’s solutions offer significant efficiencies for classifying large quantities of differing document types and extracting key data elements from those documents.  In the mortgage market, these capabilities allow for the quick and accurate identification of over 500 unique documents in the typical mortgage file, along with capturing nearly any data element from those documents that an organization requires.

 

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If you would like more information about this topic, please contact Paul Fischer at 262.685.7286 or email at p.fischer@paradatec.com.