NDC-DDP New PTF Condition for VA Loans
NOTICE TO NON-DELEGATED CORRESPONDENTS (DDP only)
IMPORTANT ANNOUNCEMENT: New PTF Condition for VA Loans
Effective immediately to comply with VA’s new requirement for Lenders to upload the Uniform Closing Dataset (UCD) among other related updates described in VA Circular 26-22-16, FLCBank will require the XML for the Uniform Closing Dataset (UCD) to be delivered to FLCBank before purchasing for VA transactions only.
This is a requirement for Non-Delegated Correspondents who have been approved to draw their own closing documents.
To assist you with this process, FLCBank is adding a new Prior to Funding (PTF) condition for this new requirement for VA loans asking for the Uniform Closing Dataset (UCD) XML to be emailed to our Correspondent Purchase Team.
Therefore, on VA loans you will have to perform the following prior to purchase:
- Upload your closed loan package to our ImageFlow system in FLCBank LOS per normal process for review and purchase and
- Email the Uniform Closing Dataset (UCD) XML to Corrpurchase@flcb.com
For additional information, you may refer to VA Circular 26-22-16, Exhibit A and Exhibit B
Please contact your Account Executive or Client Relations Representative if you have any questions.