Uniform Mortgage Data Program Q&As

Updated on May 20, 2013

Freddie Mac and Fannie Mae are working together at the direction of the Federal Housing Finance Agency to implement the Uniform Mortgage Data Program® (UMDP®). The UMDP is an ongoing effort to enhance loan quality and consistency through uniform appraisal and loan delivery data standards, as well as a joint appraisal data delivery system for the single-family loans the GSEs purchase and/or securitize. Now, the GSEs are taking steps to expand the UMDP to include industry-wide servicing data standards, called the Uniform Mortgage Servicing Dataset (UMSD).

The following Q&As supplement the information provided in the Program, Uniform Loan Delivery Dataset (ULDD) and Delivery Specification, Uniform Appraisal Dataset (UAD) and Uniform Collateral Data Portal® (UCDP®) Overviews. Additionally, we provided UMSD Q&As.

UMDP General
ULDD
UAD
UCDP
UMSD

UMDP General

General Uniform Mortgage Data Program

What does it mean that Freddie Mac and Fannie Mae are "working together"?
How does the Uniform Mortgage Data Program (UMDP) enhance data accuracy and quality?
What is MISMO?
What is the role of the MISMO organization in this effort?
How do the objectives of the UMDP impact other parts of the loan origination and secondary market delivery process?
Will the GSEs be sharing lender-specific information with each other?
How will lenders benefit from the requirement to transmit additional loan data, which will likely require a significant resource investment for them to implement?
How will the data standards be aligned, coordinated, and governed?
Will these announced changes continue to apply once the GSEs emerge from conservatorship?
Is this UMDP a signal that FHFA expects or supports combining the GSEs into a single entity?
How will Freddie Mac and Fannie Mae use the data that is collected?
Who should lenders contact if they have questions about the UMDP and its initiatives?
Who is the point of contact for questions about the MISMO Version 3.0 Reference Model?

General Uniform Mortgage Data Program

What does it mean that Freddie Mac and Fannie Mae are "working together"?

The Federal Housing Finance Agency (FHFA) has directed the government-sponsored enterprises (GSEs) to collect additional data about loans delivered to us, and to work together, with FHFA's guidance, to create a common approach, protocol, and dataset for the capture of electronic appraisal and other loan delivery data. This requirement is consistent with other mandates that FHFA, in its role as the GSEs' regulator, has issued in the past, such as the capture of additional loan data fields in support of the S.A.F.E. Act (also known as Title V).

In this digital age, data standards are crucial to improving quality and operational efficiencies for the industry. This effort complements previous collaborations between Freddie Mac and Fannie Mae on uniform residential mortgage forms and similar efforts. Working together, Freddie Mac and Fannie Mae created a common approach that enables both GSEs to better capture consistent and accurate data for the loans that are submitted for purchase and/or securitization. FHFA has made clear, however, that the GSEs are operating as unique and separate businesses and will continue to exercise independent business judgment in the use of loan data to support analysis, evaluation, and adoption and maintenance of their own business terms, eligibility requirements, pricing and credit policies, and customer relationships.
How does the Uniform Mortgage Data Program (UMDP) enhance data accuracy and quality?

Adoption of a commonly understood dataset and format will reduce ambiguities in the type and definition of data points required for selling loans to the GSEs. By collecting additional data at a more granular level, market participants will have an increased, common understanding of loan data. Also, over time, lenders will be able to move away from providing proprietary processing codes that can be misinterpreted or incorrectly mapped to delivering root data that can be accepted by both GSEs.
What is MISMO?

The Mortgage Industry Standards Maintenance Organization (MISMO®) is a subsidiary of the Mortgage Bankers Association. MISMO's purpose is to develop, promote, and maintain voluntary electronic commerce standards for the mortgage industry, intended to promote data consistency, reduce processing costs, and increase transparency through a common data dictionary and data reference model. MISMO coordinates the development and maintenance of Internet-based eXtensible Markup Language (XML) real estate finance specifications. For more information on MISMO, please visit www.mismo.org/.
What is the role of the MISMO organization in this effort?

Freddie Mac and Fannie Mae are actively involved in the MISMO Working Group structure, currently co-chairing the Secondary workgroup. Each GSE will continue to engage with the members of the workgroup as the uniform datasets and usage requirements are finalized. The MISMO Version 3.0 Reference Model serves as the basis for the Uniform Loan Delivery Dataset (ULDD) that the GSEs will require for loan delivery. The MISMO Property Valuation Response Version 2.6 Schema Errata 1 serves as the basis for the Uniform Appraisal Dataset (UAD) that the GSEs will require for appraisal delivery.
How do the objectives of the UMDP impact other parts of the loan origination and secondary market delivery process?

Work to assess impacts to various origination and delivery processes is ongoing. Freddie Mac and Fannie Mae will separately address any changes or issues with customers and the industry. We recognize that the MISMO Version 3.0 format offers flexibilities in its structure that can allow for greater efficiency in the movement of origination data to the loan delivery process, and will assess how to leverage that functionality in the future.
Will the GSEs be sharing lender-specific information with each other?

Customer relationship information, including terms of business and policies, is considered proprietary information and will not be shared by the GSEs.

Freddie Mac and Fannie Mae are working together as directed by FHFA to create a common approach and uniform datasets. It is important to note that Freddie Mac and Fannie Mae will continue to maintain independent business processes when using the data submitted to them.
How will lenders benefit from the requirement to transmit additional loan data, which will likely require a significant resource investment for them to implement?

Improving the consistency and accuracy of the data regarding the loan, borrower, and property is expected to provide more certainty regarding the eligibility of a loan for sale in the secondary market to the GSEs. Leveraging technological advances also helps to build a sustainable mortgage finance system for the future.
How will the data standards be aligned, coordinated, and governed?

Both GSEs recognize the need to provide a mechanism for long-term, ongoing alignment of data standards, supporting specifications, and documentation. Working together Freddie Mac and Fannie Mae have established a governance structure and process to facilitate maintenance and future updates.
Will these announced changes continue to apply once the GSEs emerge from conservatorship?

This requirement is consistent with other mandates that FHFA, in its role as regulator of the GSEs, has issued in the past, and should not be construed as having any direct connection with the conservatorship status.
Is the UMDP a signal that FHFA expects or supports combining the GSEs into a single entity?

FHFA directed the GSEs to develop a common approach to capturing loan data to strengthen and maintain the GSEs as viable ongoing business entities, in accordance with its mandate as the GSEs' regulator. A common approach enables both GSEs to better capture consistent and accurate data for the loans that are submitted for purchase and/or securitization. Once collected, this data will drive the GSEs' individual analysis, eligibility requirements, credit and pricing policies, and other business terms.

The GSEs have worked together for a number of years on non-policy business requirements, such as through development and maintenance of uniform mortgage forms and security instruments. The GSEs are congressionally chartered, and thus any decision to change their role and/or structure rests with Congress.
How will Freddie Mac and Fannie Mae use the additional data that is collected?

Freddie Mac and Fannie Mae will each determine independently how to use the additional data for their respective business purposes. At each GSE's discretion, the additional loan data may be used for various purposes that may include using the data to analyze loan performance, develop business policies, and make loan purchase decisions.
Who should lenders contact if they have questions about the UMDP and its initiatives?

Lenders should use their established primary point of contact at Freddie Mac or Fannie Mae for assistance.
Who is the point of contact for questions about the MISMO Version 3.0 Reference Model?

For specific questions about the MISMO Reference Model, please e-mail MISMO at info@mismo.org. For specific questions about the ULDD requirements, lenders should use their established primary point of contact at Freddie Mac or Fannie Mae.

Uniform Loan Delivery Dataset

Phase 2 ULDD Implementation

What is the focus of the Phase 2 ULDD specification?
What are the key dates for the Phase 2 ULDD?
Why do Freddie Mac and Fannie Mae have different implementation dates?
During the transition period – which begins on May 19, 2014 – can I deliver just some of the Phase 2 ULDD data points required for a loan?
What do the designations "Required," "Conditionally Required," "Conditionally Independent," and "Optional" mean?
How many data points are contained within the Phase 2 specification?
Does the Phase 2 ULDD specification contain any Optional data points?
Why is Freddie Mac revising some of the Phase 1 data points?
Will any of the Investor Feature Identifiers (IFIs) be removed in the Phase 2 ULDD?
Why isn't Freddie Mac retiring all of the codes it requires at loan delivery?
Will Freddie Mac provide a customer test environment (CTE) for Phase 2?
Will Freddie Mac work with vendors on the Phase 2 implementation?
Why did the GSEs publish Appendix E?
Will you be updating the Phase 2 ULDD specification, Appendix A – Freddie Mac XML Data Requirements V.3.1.0?
Is the Phase 2 ULDD specification based upon the MISMO Version 3.0 Reference Model—the same version of MISMO that was used for Phase 1?
Do you have any plans to transition to another version of MISMO in the future?

General ULDD Questions

How many phases of the ULDD can the industry expect?
How is Appendix A different from Appendix D?
What should I do if I have questions on the ULDD data points or the specification?
What is XML?
Will the same loan delivery file work for delivery submission to both GSEs?
What does it mean that the allowable values for certain data points in the ULDD are different?

Phase 2 ULDD Implementation

What is the focus of the Phase 2 ULDD specification?

Our Phase 2 effort focuses on collecting business critical data and further eliminating special codes (Investor Feature Identifiers) and replacing them with more granular data.
What are the key dates for the Phase 2 ULDD?

The following are the key dates:

March 1, 2014: You must begin collecting the Phase 2 ULDD data points for all loans with Application Received Dates on or after March 1, 2014, and delivered on or after August 25, 2014.

May 19, 2014: The selling system will be updated to reflect the Phase 2 ULDD fields and layout.

May 19 – August 25, 2014: The transition period begins. Sellers may begin delivering the applicable Phase 2 ULDD data points via manual entry or import. If you choose to deliver some of the Phase 2 data points on a loan, you must deliver all of the applicable Phase 2 data points if the Application Received Date is on or after March 1, 2014. Once you enter a Phase 2 data point, the system will automatically deliver edits based on the full Phase 2 ULDD requirements.

August 25, 2014: All loans with an Application Received Date on or after March 1, 2014, and delivered on or after August 25, 2014, must include the applicable Phase 2 ULDD data points.
Why do Freddie Mac and Fannie Mae have different implementation dates?
While Freddie Mac and Fannie Mae are requiring the same data points, Fannie Mae has chosen to split the implementation in two releases. The implementation date for 8 of the 19 Phase 2 ULDD data points is identical for both the GSEs.
- Freddie Mac and Fannie Mae: Sellers must begin collecting the Phase 2 data points for all loans with Application Received Dates on or after March 1, 2014, and delivered on or after August 25, 2014.
However for the remaining 11 "conditionally independent" data points, the GSE implementation dates will differ. Fannie Mae has chosen to split the implementation in two releases, while Freddie Mac is implementing them all at once because Phase 2 contains a small population of business critical data points that we need to collect soon.
- Freddie Mac: Lenders must begin collecting the Phase 2 data points for all loans with Application Received Dates on or after March 1, 2014, and delivered on or after August 25, 2014.(same as above for the 8 data points)
- Fannie Mae will require the data at a later point; however, they’ll be able to accept the data to align with our timeline; they will simply drop the data upon import.
During the transition period – which begins on May 19, 2014 – can I deliver just some of the Phase 2 ULDD data points required for a loan?

No. If you choose to deliver some of the Phase 2 data points, you must deliver all of the applicable Phase 2 data points on that loan if the Application Received Date is on or after March 1, 2014. Once you enter a Phase 2 data point, the system will automatically deliver edits based on the full Phase 2 ULDD requirements.
What do the designations "Required," "Conditionally Required," "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 GSE’s 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 are not required for loan delivery to Freddie Mac effective August 25, 2014.
How many data points are contained within the Phase 2 specification?
The Phase 2 data specification contains 19 data points, 16 of which are new for Freddie Mac.
- 15 data points were “optional” data points in the Phase 1 ULDD specification and will now be “activated” for Phase 2. They will be Required (R), Conditionally Required (CR) or Conditionally Independent (CI).
- Three data points are “net new,” which means they were not within the Phase 1 ULDD specification. (Note: Two of these three data points are not required by Freddie Mac.)
- One data point (LoanLevelCreditScoreValue), is already Conditionally Required for Freddie Mac, but was Optional for Fannie Mae; Fannie Mae will conditionally require this data point as part of Phase 2.
Does the Phase 2 ULDD specification contain any Optional data points?
Yes. The following two data points are required by Fannie Mae, but are Optional data points for Freddie Mac:
- Sort ID 403.1 Loan Identifier Value Type
- Sort ID 458.1 Contract Variance Code
Why is Freddie Mac revising some of the Phase 1 data points?

Based on customer feedback, we are clarifying or revising information and/or requirements on some data points to ensure data accuracy and clarity.
Will any of the Investor Feature Identifiers (IFIs) be removed in the Phase 2 ULDD?

Yes. We will replace some IFIs with root-level data points, which is an important goal of the ULDD. Root-level data provides more clarity and transparency that helps lenders gain a better understanding of our assessment of mortgage risk and purchase requirements on the loans they sell to Freddie Mac. With the enhanced transparency, lenders can originate and deliver loans with greater confidence, and ultimately, greater purchase certainty.
Why isn't Freddie Mac retiring all of the codes it requires at loan delivery?

In cases where we need to augment the information provided by the ULDD data points, we will continue to require certain identifying codes delivered as IFIs. Over time, we will continue to reduce the number of identifying codes we require at loan delivery and will replace them with ULDD data points.
Will Freddie Mac provide a customer test environment (CTE) for Phase 2?

Yes – just like with Phase 1, we will provide a CTE to help you prepare for the Phase 2 implementation. The CTE will be available in advance of the selling system transition period, which begins on May 19, 2014.
Will Freddie Mac work with vendors on the Phase 2 implementation?

Yes, we will continue to work closely with technology vendors to ensure they are able to support lenders with the Phase 2 ULDD implementation. We will update the vendor page on FreddieMac.com as vendors complete their verification testing in 2014.
Why did the GSEs publish Appendix E?

The GSEs published Appendix E-MISMO Version 3.0 Reference Model with GSE Extensions, containing a GSE modification to the MISMO V.3.0 Reference Model. The extended schema in Appendix E specifies the use of extension containers for two new data points that are not contained within the MISMO V.3.0 Model. It is important that this schema be used to develop the Phase 2 changes. (Note: these two data points are not required by Freddie Mac.)
Will you be updating the Phase 2 ULDD specification, Appendix A – Freddie Mac XML Data Requirements V.3.1.0?

Yes, we will make updates or revisions to the Phase 2 ULDD specification on a quarterly basis, as needed. Please take our ongoing updates into account as you conduct your planning processes throughout the year. You will be able to find the updates in the Appendix A Addendum, which has been incorporated as a tab in the document.
Is the Phase 2 ULDD specification based upon the MISMO Version 3.0 Reference Model—the same version of MISMO that was used for Phase 1?

Yes.
Do you have any plans to transition to another version of MISMO in the future?

We have no plans to transition to another version of MISMO at this time.

General ULDD Questions

How many phases of the ULDD can the industry expect?

While we can’t provide you with a specific number of future ULDD phases, Freddie Mac, in conjunction with Fannie Mae, will update the ULDD on a regular basis to address business needs and changing market conditions.
How is Appendix A different from Appendix D?

Appendix A and Appendix D – Freddie Mac XML Data Requirements Reference Tool V.3.1.0 contain identical information. However, Appendix D is in Excel, which enables you to easily sort and organize the data.
What should I do if I have questions on the ULDD data points or the specification?

Be sure to visit our ULDD Web page on FreddieMac.com for resources and training to support your implementation. You may also call your Freddie Mac representative or
800-FREDDIE for assistance.
What is XML?

XML stands for eXtensible Markup Language. It is a flexible and widely-used standard to transport and store data that simplifies the way businesses exchange electronic data.
Will the same loan delivery file work for delivery submission to both GSEs?

Although the basic loan delivery XML file format will be supported by each GSE, there will be differences in the data conditionality and/or the supported valid values for certain data points based on each GSE's policies and delivery eligibility requirements. These differences are detailed in the GSE-specific Implementation Guides for Loan Delivery Data. Additionally, it is important to note that when delivering loans to either GSE, lenders must continue to meet the terms and conditions of their contracts.
What does it mean that the allowable values for certain data points in the ULDD are different?

Based on each GSE's credit policy and delivery eligibility, there are certain data points that have different expected and allowable values or enumerations. The details in the GSE-specific Implementation Guides for Loan Delivery Data will provide the information needed to code these data points with the GSE-specific values. The data points within the ULDD also have varying levels of conditionality – some are required for both GSEs, some are conditionally required (such as ARM data attributes), and some are conditionally independent (such as pool data for Fannie Mae only). The basic framework of the file is the same and the hierarchical structure of the containers that define specified collections of loan data points within the file is the same.

This communication relates to the Uniform Mortgage Data Program, an effort undertaken jointly by Freddie Mac and Fannie Mae at the direction of their regulator, the Federal Housing Finance Agency.

Uniform Appraisal Dataset

Appraisal Data Standardization

What does appraisal data standardization mean?

The Uniform Appraisal Dataset (UAD) defines all fields required for an appraisal submission for specific appraisal forms and standardizes definitions and responses for a key subset of fields.
Is the information published in the UAD Overview and Field-Specific Standardization Requirements and UAD Technical Specification and its supporting appendices the same for both Fannie Mae and Freddie Mac?

Yes. The UAD business requirements and technical specification, including its appendices, are identical for both GSEs. These documents may be downloaded from either of the GSE's websites.
How will appraisers learn about additional appraisal requirements placed on them as a result of this program?

Implementing this program will require significant discussion, preparation, and training for impacted parties on the uniform dataset and updated appraisal vendor software. FHFA, Freddie Mac, and Fannie Mae are committed to working with appraisal industry trade groups to identify and address communication and training needs for appraisers as we implement the UAD.
Will the current appraisal forms change as a result of the appraisal data standardization requirements?

No. To ease adoption of the new standards, the current appraisal report forms are not being changed. The GSEs are leveraging and re-purposing existing fields to include a standardized response, or in some cases, more data points. Appraisal forms providers are updating their software for appraisers to accommodate the new standards. With the new standards, lenders will be providing more appraisal data to the GSEs than is provided today, but on the existing appraisal report forms.
Will there be changes in the way information is entered and printed on the forms?

Yes. The updated software supporting the forms as provided by the appraisal forms vendors will incorporate standardized field responses, allow for multiple data points in certain fields, and apply constraints on how the data in the forms is to be printed as defined in the Uniform Appraisal Dataset (UAD) Technical Specification. Full technical instructions are available on the GSEs' websites, but are generally intended for use by those organizations that are creating the updated software or generating printed appraisal report forms.
Are all fields required to be completed on the appraisal forms?

All fields necessary to comply with all GSE, client-specific, and Uniform Standards of Professional Appraiser Practice (USPAP) requirements must be completed. Certain fields may be required on some reports and not others depending on the nature of the assignment and the type of the property.

Updated appraisal forms software, based on the UAD Technical Specification, will facilitate this process. For fields that require a standardized response, appraisers should become familiar with the Field-Specific Standardization Requirements to have a working knowledge of the standardized responses and associated definitions.

Ultimately, lenders will be responsible for reviewing the appraisal report and ensuring that the appraiser has provided all required data. When the lender uploads the electronic appraisal data to the Uniform Collateral Data Portal® (UCDP®), the portal will perform checks to validate that certain data is in compliance with the UAD requirements and when applicable, the portal will return error messages if the data does not conform.
What additional information must be provided on the appraisal forms?
New information will need to be provided on the form that was never explicitly requested before the UAD. For example, the following are new data points that are being requested:
- Days On Market for the subject property and each comparable property
- Specifically defined Condition and Quality Ratings
- Status of improvements to kitchen and bathrooms for the subject property
- Sale type for the subject property and each comparable property
Within the UAD Specification documents, what does Required, Conditionally Required, and Transmit mean?
These terms represent the conditionality of a UAD data point and can be found in Appendix A and B: Appraisal Forms Mapping. Appraisal software, vendor, and lender systems generating the electronic appraisal data file for uploading to the UCDP must support all of the data points defined in Appendix A: Appraisal Forms Mapping. The conditionality column will contain one of the three indicators:
- Required (R): The data point must be included in the appraisal XML file.
- Conditionally Required (CR): The data point must be included in the appraisal XML file when a defined business condition exists. The conditionally required parameters are provided in the Conditionality Description column.
- Transmit (T): The data point must be supported. If populated by the appraiser, then the value must be included in the appraisal XML file.
These requirements translate into 209 required or conditionally required data points on Fannie Mae Form 1004/Freddie Mac Form 70 (91 required, 118 conditionally required). For this key subset of fields, we are providing field-specific standardized definitions and responses.
May fields be left blank if the data is not available or applicable?

If data fields are not applicable because of conditions set forth in the appraisal then those fields should be left blank. Examples of fields that can be left blank when they are not applicable may include contract-related questions for appraisals where the assignment type is a refinance.

All necessary research must be conducted to prepare an accurate and complete appraisal report, which would include all required and applicable conditionally required fields.
Does the UAD standardize or limit the information and/or data that appraisers can include in the addenda to an appraisal report?

No. The UAD does not standardize the data contained in the addenda. In fact, an appendix or an addendum are the preferred sections in which to include additional data, such as the legal property address, if it is different from the USPS mailing address.
Is the "gray space" usable on the forms?

No. The gray space on the appraisal report form must be left blank. There is no data mapping for the gray spaces in the UAD Specification, therefore any data placed in these spaces will not be recognized in the electronic appraisal file.
What is the difference between data points noted in Appendix D: Field-Specific Standardization Requirements, that are "Required" versus an "Instruction"?

These labels are important for lenders to note when they are submitting electronic appraisal data to the UCDP because the labels can assist lenders in clearing edits received from the portal. For form fields labeled as a "requirement," UCDP will validate the data and will return an error message if the data does not conform to the defined reporting format as listed in Appendices A, B, and D. For form fields labeled as an "instruction," the UCDP will not validate the reporting format, but the data must be transmitted if populated by the appraiser.
How many data fields on the appraisal forms are being standardized?

The UAD standardizes certain data points which will support consistent appraisal reporting by addressing vague or disparate data currently included on some appraisal reports. Appendix D, Field-Specific Standardization Requirements, which is included in the UAD Specification, includes 61 form field labels that contain specific requirements.
The standardized Condition and Quality ratings do not fit every residential property in my market area. How should the field be completed if a property does not fit exclusively into one condition or quality rating?

The Condition and Quality rating that most closely fits the property must be selected. Comments and any additional pertinent information that will provide greater clarity around the choice of the condition and quality ratings must be provided.
Do you know when the appraisal forms software vendors will release their updated appraisal software that complies with the UAD?

Most appraisal forms software vendors released updated software incorporating the UAD requirements in the Summer of 2011. Please contact your appraisal form software vendor for specific timing and guidance.
Will the GSEs approve or certify appraisal forms vendors whose software is in compliance with the UAD?

No. The GSEs are working closely with the appraisal forms vendors as they incorporate the new UAD requirements into the current appraisal forms, but will not certify or approve vendors that are in compliance.
Why aren't the GSEs using the MISMO Version 3.1 Reference Model for the appraisal data standards?

At the time the project was launched, MISMO Version 3.1 Reference Model was in development and not yet published. We chose to develop our specifications using the most current version available at that time, which supported the four targeted appraisal forms. That version was MISMO Property Valuation Response Version 2.6 Schema Errata 1.
Now that MISMO Version 3.1 Reference Model is available, why are you not moving to that version?

Industry participants have invested a significant amount of time in developing against the current specification. Updating to the MISMO Version 3.1 Reference Model could introduce confusion and seriously affect vendors' ability to be ready by the mandated implementation dates.
Will you revise the specification at some time in the future to use the MISMO Version 3.1 Reference Model?

MISMO Property Valuation Response Version 2.6 Schema Errata 1 supports our focus on the four targeted forms. In the future we may consider moving to a newer version of the MISMO Reference Model, but have not set a time frame as of yet.
Is the data entered into fields with standardized UAD responses case sensitive in the PDF file? New

Yes. Standardized UAD responses are case sensitive. Any changes in case to the standardized allowable values may cause errors for appraisals that are delivered to the UCDP as PDF files. Thus, UAD appraisal reports in the PDF format should not utilize "ALL CAPS".

General – Appraisers

Is there any limitation on the information that may be provided in the appraisal report?

No. The appraisal report must provide any and all information that is necessary to communicate an appraisal in a manner that is not misleading and contains sufficient information to enable the intended users of the appraisal to understand the report properly. There are limitations as to what can be reported within the body of the standard appraisal report forms based on space constraints and data readability. However, the appraiser is expected to continue to provide all necessary additional information and clarifications within the report through the addition of a text addendum, photo addenda, maps, sketches, and any other additional information necessary to produce a credible and understandable report.
What appraisal data is being standardized?
There are two primary data standardization changes. We are:
- Standardizing the inputs for numeric values including dates, dollar amounts and other numbers and
- Standardizing the inputs for specific property characteristics for easier comparison of properties
For other inputs, instructions are being provided to clarify the GSEs' expectations. All of these changes focus on a subset of the fields on the existing appraisal report forms.
Are the adoption of the UAD and use of the UCDP the first steps in a process to replace appraisers with Automated Valuation Models (AVMs)?

No. AVMs serve a useful purpose in collateral valuation under certain conditions. However, AVMs cannot replace the depth and breadth of knowledge of a competent appraiser.
Some users and readers of appraisal reports (such as borrowers) may not understand some of the standardized responses and abbreviations mandated by the UAD. Will appraisal reports completed using the UAD abbreviations conform to the Uniform Standards of Professional Appraiser Practice (USPAP)?

Appraisers can include the UAD definitions and abbreviations from the Field-Specific Standardization Requirements as an addendum to the appraisal report so that users and readers of appraisal reports will be able to understand the UAD required standardized responses and definitions. The GSEs anticipate that most software vendors will facilitate this process by creating standard addenda for appraisers to include in the appraisal report. Appraisers remain responsible for ensuring compliance with USPAP requirements. When appropriate, an appraiser must supplement the information provided in any appraisal report form being used in order to comply with the appraisal reporting requirements of USPAP.
What is a "first-generation PDF"?

For the purposes of the UAD, a first-generation PDF is a PDF file of the appraisal report that is produced by the appraiser's forms software before the appraisal report is transmitted by the appraiser.
Will the UAD be required for appraisals for mortgages being sold to the Federal Housing Administration (FHA) and Department of Veterans Affairs (VA)?

Fannie Mae and Freddie Mac have jointly developed the UAD and will be implementing the UAD for conventional loans sold to either GSE. Questions pertaining to FHA and VA requirements should be addressed to those organizations directly.
If the subject property and a comparable property have features represented on the Sales Comparison Approach Grid identically, but which merit an adjustment, is an adjustment permitted? For example, both the subject property and a comparable property feature a view that is rated as Beneficial; Water View (B;Wtr), yet the water view from the subject property is recognized in the market as being superior (or inferior) to the water view from the comparable property.

Both properties can be rated as having beneficial water views, but the market can recognize a difference in the quality of the views. These differences must be adjusted for in the Sales Comparison Approach Grid and an explanation must be provided in the sales comparison approach comment field or in an addendum.
If a property's overall rating could be C2, C3, C4, or C5 for Condition, but there is one item alone that could be rated a C6, how should the property be rated?

The condition of the property should be determined holistically, and the best definition should be applied as the overall rating. However, the C6 rating is an exception because it indicates that the property suffers from trait(s) that negatively affect the safety, soundness or structural integrity of the improvements. As a result, if any portion of the dwelling is rated a C6, the whole dwelling must be rated a C6.
The UAD requires the appraisal to indicate whether the subject property's bathrooms have been "not updated," "updated," or "remodeled" within the past 15 years. What if there is a subject property in which there are multiple bathrooms and some, but not all, bathrooms have been updated or remodeled, while the other bathrooms have not been updated or remodeled?

If there are multiple bathrooms and only some, but not all, are updated or remodeled, the level of improvement provided should be "updated" or "remodeled." Appropriate explanation and commentary describing this situation must be included in the property condition comment field and/or an addendum.
The Q1 through Q4 Quality ratings indicate that a property includes exterior and interior ornamentations. How do these ratings apply to a high-quality home of a contemporary or minimalist design?

The categories for Quality are somewhat generic in nature, as they need to be applied across a wide range of different housing designs, styles, and types. Not every feature listed in a definition for each Quality rating may apply to a particular property. The appraiser should report their best estimate of the subject's overall quality using the given Q1 through Q6 Quality ratings and definitions. The Quality ratings chosen for each property should be explained, as necessary, in the appraisal report. Additional commentary, as well as other exhibits including photos, are helpful in this regard.
Can the UAD Quality and Condition ratings be applied to manufactured housing?

No. The existing standards to rate the quality and condition of manufactured housing must be used.
The UAD requires the sales type for the subject property and each comparable property be reported. How does the "Sale Type" list work?

The UAD sale type list is a waterfall. Start at the top of the list and select the first sale type that applies. The description may be expanded and additional information about the sale type may be provided elsewhere in the report, if necessary.
What if some of the UAD required information for a comparable property is not available?

It is expected that an appraiser will determine and perform the scope of work necessary to complete the appraisal assignment, which would include attempting to obtain such information as is available in the normal course of business.
What if information about basements is not readily available in the local MLS or public records?

It is expected that appraisers will attempt to obtain as much information as possible in the normal course of business. This may include contacting listing agents, selling agents, buyers, sellers, or in some cases, making an inquiry to the occupants of a property. This is no different than what should be done today, when necessary. In some cases, it is recognized that the best information that an appraiser can obtain in the normal course of business is an estimate of the area of the basement or the finished area. In such cases, the estimates for the total and finished square footage for these areas must be provided. The appraisal report must include an explanation that the figure(s) provided are estimates and must describe the source for the estimate(s).
Can more than one selection for "Location," "Built-Up," "Growth," "Property Values," "Demand/Supply," and "Marketing Times" be provided in the neighborhood section of the appraisal?

No. The single answer that best applies to each attribute must be determined
What if the complete dates (mm/dd/yyyy) for the prior sale of the subject property or the comparable properties cannot be obtained?

The date may be provided in mm/yyyy format if the specific day is not available.
The UAD requires whole dollars only in some fields where dollars and cents have previously been allowed. If rounding causes inconsistencies, is that ok?

Yes. For example, if the appraiser lists a condo fee on page 1 of the appraisal report as an annual figure, and it is not equally divisible into whole dollars for the monthly requirement on the Sales Comparison Approach Grid, the rounded approximation is acceptable.
Must the XML file contain all data entered on the PDF version of the appraisal report?

Yes. The XML file must include all data included within the PDF version of the appraisal report. Data may not be truncated within the XML file. The field length requirements in the UAD Technical Specification must be enforced for both the XML file and the PDF. XML appraisal files that do not include all data entered in each field of the PDF version of the appraisal report are not acceptable to the GSEs because they do not meet the UAD Technical Specification.
How should the appraiser rate the Condition and Quality of a property with substantial outbuildings?

Outbuildings are to be treated separately and should not be considered in the rating of the primary residence. The contributory value of any outbuilding(s) should take into account the condition, quality, and utility of the structure(s) and be reported elsewhere on the form.
Are commas allowed in money and numeric fields in the PDF?

Yes. As referenced in the UAD Specification, commas are permitted in money or numeric fields only on PDFs.
Can the Market Conditions Addendum to the Appraisal Report (Freddie Mac Form 71 / Fannie Mae Form 1004MC) be uploaded to the UCDP as a separate document?

No. The Market Conditions Addendum may not be uploaded to the UCDP as a separate document. It must be included as an attachment to every appraisal report submitted to the UCDP. For example, XML submissions to the UCDP must include an embedded PDF file. The embedded PDF file must include all exhibits, addenda, and photographs, including the Market Conditions Addendum (Freddie Mac Form 71/Fannie Mae Form 1004MC).
How does the UAD Location rating apply to the neighborhood of the subject and comparable properties?

The Location rating is for the location of the subject and comparable properties within the neighborhood or market area and is not a rating for the overall neighborhood or market area.
Many appraisers currently use the "Location" field on the to report the neighborhood(s) or market area(s) in which the subject property and comparable properties are located and to make adjustments based on the market reaction for differences, if any, between the neighborhoods. Can the "Location" field in the still be utilized for this purpose in a UAD appraisal report?

No. The "Location" field in a UAD appraisal report is for rating and describing the location of the subject and comparable properties within the neighborhood or market area. In those instances where it is necessary to use one or more comparable properties that are located in a different neighborhood or market area than the subject property, the appraiser can report this information by using one of the three "blank" fields located at the bottom of the and, if necessary, make appropriate adjustments.
For appraisal forms completed in territories where the metric system is widely accepted, must square feet and acres be used to report the lot size? New

No. For appraisals in territories where the metric system is widely accepted, such as Puerto Rico, square meters can be reported on the form by "sqm" in place of "sf" or "ac" to denote the lot size.
What should an appraiser do if there is a known prior sale or transfer of the subject or comparable properties, but the prior sale amount is not disclosed? New

An appraiser must do all necessary research in the normal course of business to determine the date, and amount of any prior sale or transfer of the subject or comparable properties relevant to the analysis conducted in the appraisal. If the prior sale amount is not available in the normal course of business, the appraiser must leave the field blank, and explain in the prior sale comment field or the addendum all known information about the prior sale or transfer.

The UAD does not reflect specific laws, regulations or requirements that may apply in each geographic region. Therefore, warning messages in the UCDP may not be applicable if the UAD requirement differs from the requirement for that geographic region. To accommodate these circumstances, these warning messages will not transition to hard stops.
If the condition of the property requires the appraisal be made "subject to" repairs, alterations, or inspections, what rating should the appraiser put in the condition field on page one in the improvements, or unit description section of the appraisal report? New

The appraiser must provide the rating based on the condition of the property as it will be after the completion of the "subject to" items in the improvements or unit description section. The same rating will be used in the sales comparison approach grid. The appraiser must also describe the current condition of the subject property including the "as-is" condition rating in the condition comment field and/or in an addendum if necessary. Lastly, the comments must also include a breakdown of the necessary repairs and/or alterations which will be required to be repaired.
Do the condition and quality ratings apply to the interior and exterior description fields in the improvement and unit description section of the appraisal report? New

No. The Q and C ratings only apply to the overall condition and quality of the subject property. Appraisers should complete the exterior and interior descriptions as they do today.
Should the contract section of the appraisal report be completed if the assignment type is not a purchase? New

No. If the assignment type is anything but a purchase, the contract section of the appraisal should be left blank.

General – Seller/Servicers

Do lenders have to send the appraisal data to both GSEs?

No. Lenders may upload an appraisal to the UCDP and elect to submit it to either or both GSEs. However, lenders must successfully submit an appraisal to the appropriate GSE prior to delivering the related loan to that GSE.
How will the new appraisal dataset affect a lender's appraisal review process?

Changes will vary lender-by-lender. We recommend each lender review its closing, underwriting, and quality control policies and processes with enough lead time to accommodate the implementation of the new standards and delivery of the electronic appraisal data. Underwriters should become familiar with the requirements of the UAD Specification and determine what changes need to be incorporated into their processes.
Will there be a transition period for implementing the new appraisal data standards?

Yes. We encourage lenders to begin using the new appraisal data standards and delivering appraisals to the UCDP before the required implementation dates. Appraisals conducted using the four required UAD appraisal forms must be completed using the UAD specification beginning with appraisals that have an effective date on or after September 1, 2011. Lenders are required to deliver appraisals to the portal before the delivery date of the mortgage starting with loan deliveries on or after March 19, 2012, for loan applications dated on or after December 1, 2011.
Will data from the appraisal dataset transfer to loan delivery or must data be resubmitted to loan delivery?

The data submitted to the UCDP does not import into the GSEs' respective loan delivery systems.

UAD Standardization Requirements

The UAD limits the information that the appraiser can enter into some data fields on the appraisal forms. What can the appraiser do if the appraiser believes that different, or additional data, should be entered into such data fields?

An addendum to the report should be provided and/or information can be included in the additional comments sections.
The UAD requires that the United States Postal Service (USPS) standardized mailing address be included in the appraisal report. Where should the legal address of the property be included if the lender requires that information?

The legal address of the property may be included in an addendum.
If the site size of the subject property and some of the comparables is less than one acre, and the site size of other comparables is greater than one acre, will the appraiser be required to report the subject property and the comparable sales that are less than one acre in square feet, and the comparable sales with site sizes greater than one acre, in acres, or can the appraiser choose to report the site size of all of the properties using the same unit of measure?

The UAD requires the site size for all properties that are less than one acre to be reported in square feet and the site size of all properties that are one acre or greater be reported in acres.
Does the UAD standardize the Market Conditions Addendum (Freddie Mac Form 71/Fannie Mae Form 1004MC)?

No. The UAD specification does not standardize any of the data fields contained in the Market Conditions Addendum. Appraisers should continue completing the Market Conditions Addendum per existing Fannie Mae and Freddie Mac requirements.
What if a house was built in two different years? For example, the original part of the structure was built in 1950 and an addition was constructed in 2002?

The year built/age of the original part of the structure should be entered.
With so many fields being standardized (such as Condition and Quality ratings) is there any requirement or purpose of providing a narrative description anymore?

Yes. Narrative descriptions are required in order to comply with GSE guidelines and USPAP reporting requirements. For instance, this may include providing a narrative explanation as to how and/or why an appraiser assigned a particular Condition rating (C1, C2, C3, C4, C5, or C6) to the subject property and comparable sales.
Are the Quality ratings (Q1 – Q6) consistent with other industry standards?

The Quality ratings in the UAD were developed independently and are proprietary to Fannie Mae and Freddie Mac. Fannie Mae and Freddie Mac have designed the Condition and Quality ratings to eliminate the ambiguity within existing appraisal reports around these key fields.
Will appraisers still be able to place effective age, along with actual age, in the Sales Comparison Approach Grid?

The UAD requires only the actual age to be entered in the "Actual Age" field on the Sales Comparison Approach Grid for the subject property and comparable properties. However, there are three additional fields located at the bottom of the Sales Comparison Approach Grid that can be utilized to report any additional data about the subject property and comparable sales that an appraiser feels is appropriate.
What if a USPS address does not exist for a property?

The physical address of the property should be provided. If the property is new construction and an address has not been assigned, the appraisal should provide as much information as possible to allow for the identification of the location of the property. This field may not be left blank.
What if the USPS address is a PO Box?

The physical address of the property should be provided in the property address field. If necessary, any additional information or explanation about the property address may be included in an addendum to the appraisal report.
What if there is a conflict between the physical address and the official address from the municipality?

The actual physical address of the subject property should be provided. If necessary, any additional information or explanation regarding the property address may be included in an addendum to the appraisal report.
When can an appraiser start using the UAD?

The use of the UAD is required for appraisals reported on the four UAD appraisal forms with an effective date on or after September 1, 2011. Prior to that date, appraisers who have updated their appraisal forms software to a version designed to prepare UAD-compliant appraisal reports can start using the UAD, if required by their client.
Can the UAD be applied to the other GSE appraisal report forms?

Yes. The UAD specifications may be applied to the other GSE appraisal forms, where applicable, if required by the client. However, an explanation of any standardized ratings/definitions, abbreviations, and formatting must be included in the appraisal report or an addendum.
Where is the name of an AMC involved in an appraisal assignment reported?

The AMC name must be reported on Page 6 of the appraisal report in the "Name" field under "Lender/Client." The "Lender/Client" field on Page 1 of the appraisal report should be used for the lender only.
If the "None" box is checked for "car storage" in the Improvements Section of the appraisal report, is any additional information required under "car storage"?

Yes. If "None" is indicated, then "0" must be entered for the number of cars for the driveway, garage and carport.
The UAD requires the distance between the subject property and the comparable properties to be reported in miles with a directional indicator. How does this apply to properties that are located in the same building or in very close proximity to each other (i.e., the subject and the comparable property are condominium units located within the same building)?

In cases where the subject property and comparable property are located in the same building, the distance is to be reported in miles. However, in such cases, a directional indicator is not required. For example, for condominium units located in the same building, the required distance for this field could be reported as "0 miles", "0.0 miles" or "0.00 miles." For properties that are located in very close proximity to each other, but not in the same building (such as adjoining properties or properties located across the street from each other), the distance is reported in miles with a directional indicator. For adjoining properties, a correct entry for the required distance and a directional indicator could be similar to the following examples: "0.01 miles W" or "0.04 miles NE."
Can the latitude and longitude of the subject property be provided to identify its physical location?

Yes. The latitude and longitude of the property may be provided in the "Map Reference" field. The latitude must be provided first, followed by the longitude.
What if a view or location associated with a property is not on the UAD view or location factor list?

"Other" must be chosen and a free form description of the property's view or location should be provided. A more detailed description may be provided in the sales comparison approach comment or in the addendum, if necessary.
How should the appraiser identify the presence of more than two views associated with a property in the "View" field on the first page of the appraisal report and in the Sales Comparison Approach Grid?

When there are more then two views to be identified, the appraiser may select one view from the list that appears and then select "other" and indicate the additional views. If none of the views are on the UAD view factor list, the appraiser may simply select "other" and indicate the multiple views. If space is limited, the appraiser may provide abbreviations or a short description and then provide more detail in the comments section or an addendum including an explanation of any abbreviation(s) used.

System and Process Changes

What systems and process updates do lenders need to make in order to implement the new appraisal data standards?

Systems and process changes will vary by lender and depend on how the lender captures, processes, and stores appraisal data (if electronically at all). In general, system changes will be required if appraisal data is captured, stored, and processed within the lender's organization for quality control, workflow, or other purposes. If a lender is not processing the data today and leverages a vendor, such as an Appraisal Management Company (AMC), then it is less likely systems changes will be required. All lenders should evaluate their processes for reviewing the new appraisal standards in the underwriting, quality control, closing, and other origination functions.
What challenges will lenders face in adopting the new standards?

Staff training and process adjustments are some of the key areas that should be addressed by most lenders to prepare for these changes. Appraisal reviewers and underwriters will need to be familiar with the UAD requirements and may need to reject appraisals that do not meet the UAD standards.
What types of compliance checks should lenders develop within their own processes?

Lenders, vendors, and AMCs may want to implement systemic and process edits or other checks to ensure that the GSE data requirements are being met by the incoming appraisal report forms (electronically and in the PDF versions). Lenders will need to build capacity to make sure the necessary reviews and quality controls are in place in the various functions working with appraisal data.

Training & Information

Will the GSEs offer training for appraisers on the requirements of the UAD?

The GSEs are working closely with the appraisal industry and software vendors to provide a variety of training options throughout the industry. Training options include a recorded tutorial available 24 hours a day, 7 days a week, on the GSEs' websites and materials distributed through appraisal software providers and trade organizations.
Will the GSEs provide any training support for lenders?

Yes. The recorded tutorial for the UAD is available for lender staff that should be familiar with the new standards, including the new valid values and their definitions (Condition, Quality and Improvements). Additional information and training programs will be provided by the GSEs.

Uniform Collateral Data Portal

General

How will electronic appraisal data delivery be implemented? Updated
Will both GSEs accept the same electronic file format for delivery of appraisal report data
What fees are the GSEs charging associated with the use of UCDP? Updated
What training is available for UCDP? Updated
Can I obtain the appraisal file in XML format from my appraiser?
May appraisals supporting government loans such as Rural Development, FHA, and VA mortgages be submitted to UCDP?
What vendors are developing integrations to UCDP? Updated
Will the MISMO Version 3.0 Reference Model be used for appraisal data delivery?
Does the UCDP accept a field review (including those reported on Fannie Mae Form 2000/Freddie Mac Form 1032)?
Will the GSEs grant waivers if a lender is not able to submit an appraisal before a single delivery?

Registration, User ID’s and Passwords

How does a lender register and gain access to the portal?
Are all general users required to register with the GSEs to access UCDP?
If our organization plans to access UCDP using a vendor-provided solution, do we still need to register for UCDP? Updated
How do lender agents register for UCDP?
How do I know if my lender agent is registered to upload appraisals in UCDP?
If I am an independent fee appraiser, can I register for access to UCDP?
If I am a mortgage broker, should I register for UCDP?
How long is the registration process for access to UCDP?
Who do I call if I have questions about the registration process for UCDP? Updated
What if I cannot remember my User ID or my Password for UCDP?
Do passwords for UCDP expire?

UCDP Functionality

How will I know if my appraisal was submitted successfully to UCDP and meets the requirements of the UAD? Updated
How do I ensure the appraisal was completed using a UAD compliant form? Updated
What is the purpose of the Document File Identifier (Doc File ID)? And what is its connection to Loan Delivery?
Does the appraiser receive any information or feedback directly from UCDP?
How do UCDP requirements affect lenders that do not sell directly to the GSEs, but rather to an aggregator that sells to a GSE?
Can appraisals be transferred from one entity to another (such as from a correspondent to an aggregator) within UCDP?
How does an aggregator obtain the Doc File ID from a correspondent lender for loan delivery to the GSEs?
Can UCDP support more than one appraisal for a loan if required?
How many appraisals can be uploaded to UCDP at once?
Is there a limit on the appraisal data file size that can be uploaded to UCDP?
Will UCDP accept a PDF that includes password protection for security?
How are revised appraisals handled in UCDP? Updated
Do both GSEs require the same appraisal data and perform the same data edits? Updated
What happens if I get a UAD Compliance Check message? Updated
Will lenders need to determine which GSE the loan will be sold to prior to uploading to UCDP?
What happens if I upload an appraisal to UCDP, but do not deliver the loan to either GSE?
When do the GSEs require lenders to submit their appraisals to UCDP?
Is there still a need to keep multiple hard copies of appraisals in the loan file at our branch?
How long will the appraisal be available to the lender if they need to replace the one that was originally submitted?
What internet browsers support the use of UCDP?

General

How will electronic appraisal data delivery be implemented? Updated
The GSEs developed the Uniform Collateral Data Portal^® (UCDP^®), which is a single portal for the electronic submission of appraisal data.

Appraisal report forms for all conventional mortgage loans delivered to Fannie Mae or Freddie Mac on or after March 19, 2012, must be submitted to UCDP if:
- The loan application is dated on or after December 1, 2011 and
- An appraisal report is required
The appraisal report must be submitted to the UCDP before the delivery of the mortgage loan to Freddie Mac or Fannie Mae and must include all exhibits, addenda, and photographs. Refer to the Freddie Mac Freddie Mac Single-Family Seller/Servicer Guide (Guide) Bulletin 2010-31 for a list of forms that are required for UCDP submission.
Will both GSEs accept the same electronic file format for delivery of appraisal report data?

Yes. Both GSEs accept the same file formats for electronic submission of data in the uniform residential appraisal report forms via the UCDP. Information about the acceptable file formats, including the dominant XML formats, can be found on both GSEs websites.
What fees are the GSEs charging associated with the use of UCDP? Updated

The GSEs do not assess any fees in connection with the use of the UCDP. The GSEs do not charge lenders or their agents transaction fees for uploading appraisal data files directly to the portal or for using a vendor solution to access UCDP.

Note: If the appraisal is available only in a PDF format, an XML conversion tool is available in UCDP for a fee. Veros Real Estate Solutions, the technology provider selected for UCDP, offers the conversion tool for a fee.
What training is available for UCDP? Updated

The UCDP recorded tutorials, “Using the Uniform Collateral Data Portal” and “Submitting Appraisal Data Files to the UCDP” are available to provide users with a self-paced training opportunity containing a general overview of the UCDP and how to submit appraisals in the UCDP. Check the UCDP website for training resources.
Can I obtain the appraisal file in XML format from my appraiser?

Yes. The appraisal form software vendors are able to provide the appraiser the ability to obtain the appraisal file in the XML format in addition to the PDF file. Lenders should evaluate their processes and requirements and may want to require the appraiser to send them the appraisal file in XML format. This minimizes data submission errors and additional PDF conversion charges in UCDP.
May appraisals supporting government loans such as Rural Development, FHA, and VA mortgages be submitted to UCDP?

At this time, only the appraisal reports for conventional mortgages sold to the GSEs are required to be submitted to UCDP.
What vendors are developing integrations to UCDP? Updated

A list of vendors that offer an integrated system interface to the UCDP is available on both GSE’s web sites, FreddieMac.com and eFannieMae.com.
Will the MISMO Version 3.0 Reference Model be used for appraisal data delivery?

No. At this time, MISMO Version 3.0 does not provide a framework for appraisal report data. There are several proprietary XML formats in the residential appraisal marketplace, as well as a framework in the MISMO Version Appraisal Standard. The GSEs’ goal is to accommodate the dominant XML formats currently used for appraisals.
Does the UCDP accept a field review (including those reported on Fannie Mae Form 2000/Freddie Mac Form 1032)?

No. UCDP does not accept a field review. If the lender uses a field review to obtain an updated value, then the original appraisal report is required to be submitted to the portal. If the lender relied upon the value obtained on the field review, then that value should be provided at loan delivery. In addition, the lender must include in the mortgage file both the original appraisal report, as well as the field review. In the future, the GSEs will enhance the portal to enable the electronic capture of the field review.
Will the GSEs grant waivers if a lender is not able to submit an appraisal before a single delivery?

No. Variances and waivers will not be provided to lenders from either GSE for this data.

Registration, User ID’s and Passwords

How does a lender register and gain access to the portal?

Lenders must identify a lender administrator (lender admin) for their organization. The lender admin has authority within UCDP to set up and manage their company’s business structure in the portal, and grant access privileges to other general users within their lender organization.

If you are the lender admin, you must complete the GSE registration process for either or both GSEs. Registration instructions can be found at FreddieMac.com and eFannieMae.com.

If you are a general user, your lender admin will create your access directly within the portal.
Are all general users required to register with the GSEs to access the UCDP?

No. Lender admins and lender agent administrators (lender agent admins) are responsible for adding and managing general users for their organization within the portal. Each organization must have at least one administrator.

For lender organizations, all lender admins are required to complete one or both GSEs’ registration processes.

For lender agents, only one lender agent admin should complete the joint GSE registration process.
If our organization plans to access the UCDP using a vendor-provided solution, do we still need to register for the UCDP? Updated

Yes. Lenders still need to identify a lender admin and register with Freddie Mac and/or Fannie Mae even if using a vendor-provided solution. Once you have established this access you will work with your vendor to set up connectivity via the vendor solution. Contact your vendor for more information on how to establish this connection.
How do lender agents register for the UCDP?

Lender agents must complete the UCDP Lender Agent Registration Form on either FreddieMac.com or eFannieMae.com to request a UCDP account and appear on the lender agent list within the UCDP.
How do I know if my lender agent is registered to upload appraisals in the UCDP?

Once the lender agent completes the UCDP lender agent registration form and account setup, their name will appear in the lender agent dropdown on the Relationships page in the UCDP. From there, you can identify and invite one or more lender agents to submit appraisals on your organization’s behalf to the UCDP.
If I am an independent fee appraiser, can I register for access to the UCDP?

No. Independent fee appraisers cannot register for access to the UCDP.
If I am a mortgage broker, should I register for the UCDP?

No. Mortgage brokers cannot register for the UCDP.
How long is the registration process for access to the UCDP?

The registration process for UCDP is a multi-step process for each GSE that can take between 5-7 business days to complete. For additional registration information refer to FreddieMac.com and eFannieMae.com.
Who do I call if I have questions about the registration process for the UCDP? Updated

To support questions related to registration and submitting appraisals to UCDP, contact the joint GSE UCDP Support Center. To reach the UCDP Support Center, please call 1-800-917-9291.
What if I cannot remember my User ID or my password for the UCDP?
If you forget your password:
- Contact your lender admin who will be able to reset your password.
- If you don't know your lender admin, contact the UCDP Support Center at (800) 917-9291.
If you forget your User ID:
- Contact your lender admin who will be able to look up your User ID in the UCDP.
- If you don't know your lender admin, contact the UCDP Support Center at (800) 917-9291.
Do passwords for the UCDP expire?

Yes. Passwords for the UCDP expire every 90 days for users accessing the UCDP via the Web interface. Individual users are prompted to change their UCDP password prior to the 90-day expiration date.

UCDP Functionality

How will I know if my appraisal was submitted successfully to the UCDP and meets the requirements of the UAD? Updated

All appraisals successfully uploaded to the UCDP receive a Submission Summary Report (SSR) summarizing the appraisal submission details and the status of the submission, as well as a Document File Identifier (Doc File ID), which is the unique appraisal identifier generated by the UCDP. Loans delivered to either GSE must have an appraisal with a "Successful" status in the UCDP prior to loan delivery.

Appraisals submitted to UCDP go through a series of checks, including a UAD Compliance Check. Initially, the UAD Compliance Check results in warning messages only and does not affect the successful submission of appraisals to UCDP.
How do I ensure the appraisal was completed using a UAD compliant form? Updated

Lenders may verify that they have a UAD appraisal report form based upon the updated version date footer at the bottom of each page the report form. The UAD forms indicate a version date of "UAD Version 9/2011" in addition to the current March 2005 form date, while the previous form has a March 2005 form date.

An appraisal report is considered to be UAD compliant if it is completed in accordance with Appendix D, UAD Field-Specific Standardization Requirements of the UAD Specification.
What is the purpose of the Document File Identifier (Doc File ID)? And what is its connection to Loan Delivery?

The Doc File ID is the identifier assigned within UCDP to one or a set of appraisal data files associated with a given property and indicates the appraisal data file was uploaded to the UCDP. This Doc File ID does not change even if you upload appraisal updates as necessary.

The Doc File ID is required to be included in the loan delivery file submitted to the GSEs. Each organization needs to determine how the Doc File ID will be captured in the loan delivery file.
Does the appraiser receive any information or feedback directly from the UCDP?

No. The lender or its agent submits the appraisal data to the UCDP and receives a Submission Summary Report with the status of the appraisal submission, and a Doc File ID to use when the loan is delivered to one of the GSEs. There are a number of edit checks in the portal including a UAD Compliance Check that may require the lender to go back to the appraiser. Lenders may contact the appraiser to clarify data points or obtain additional data to clear certain edit checks.
How do the UCDP requirements affect lenders that do not sell directly to the GSEs, but rather to an aggregator that sells to a GSE?

If your aggregator sells to the GSEs you may be required by that aggregator to upload the appraisal to the portal and ensure your aggregator has the final results, including the Doc File ID assigned to the appraisal and a copy of the Submission Summary Report (SSR), prior to selling the loan to that aggregator. Please confirm the process with each aggregator you work with that sells to a GSE.
Can appraisals be transferred from one entity to another (such as from a correspondent to an aggregator) within the UCDP?

No. Appraisals cannot be transferred within the UCDP.
How does an aggregator obtain the Doc File ID from a correspondent lender for loan delivery to the GSEs?

Lenders should work with their correspondents to develop a process to ensure the aggregator receives the Doc File ID after the appraisals are uploaded to the UCDP and prior to loan delivery.
Can the UCDP support more than one appraisal for a loan if required?

Yes. If necessary, the UCDP can support up to three appraisals per loan.
How many appraisals can be uploaded to the UCDP at once?

Web access to the UCDP allows lenders or their agents to upload a maximum of 10 appraisal data files per upload request, file size permitting.
Is there a limit on the appraisal data file size that can be uploaded to the UCDP?

Yes. The maximum size per appraisal data file is 12 MB for a PDF-only submission, and 15 MB for an XML file format submission containing an embedded PDF. When uploading multiple appraisal files at one time, the total combined file size limit is 100 MB. It is important to note that performance of the system could be slower for individual files over 6MB.
Will the UCDP accept a PDF that includes password protection for security?

UCDP accepts PDFs that require a password to edit the document. UCDP does not accept PDFs that require a password to open the appraisal file.
How are revised appraisals handled in the UCDP? Updated

Lenders have the ability to upload revised or corrected appraisal files, if needed. Lenders need to work with the appraiser to resolve issues and obtain a corrected appraisal. More information is available in the joint-GSE UCDP User Guide and the Submitting Appraisal Data Files to the UCDP.
Do both GSEs require the same appraisal data and perform the same data edits? Updated

The GSEs have standardized the required appraisal data formats for the UAD-supported appraisal report forms. Initially, there are a common set of checks, including a UAD Compliance Check, in UCDP. These data requirements and checks will continue to be required by both GSEs in the future. Whether joint or individual, each GSE has independent policies regarding the acceptability of the appraisal for delivery to that GSE. In the future, each GSE may introduce additional messaging and criteria related to the standardized data submitted to UCDP, based on each GSE’s independent policies.
What happens if I get a UAD compliance check message? Updated

In general, the UAD Compliance Check warning messages indicate that the appraisal was not submitted with the proper format or enumerated values, or the appraisal was not completed in compliance with UAD requirements. For the initial phase of UCDP, the existence of UAD Compliance Check messages will not affect the successful submission of appraisals to UCDP.
Will lenders need to determine which GSE the loan will be sold to prior to uploading to the UCDP?

No. Lenders have the ability to upload and submit an appraisal to one or both GSEs, and do not need to know to which GSE the loan will be sold to before uploading the appraisal. Prior to loan delivery, lenders must submit the appraisal file to the GSE to which they plan to deliver the loan, and lenders must submit a Doc File ID for an appraisal with a “Successful” status as part of the loan delivery process to that GSE.
What happens if I upload an appraisal to the UCDP, but do not deliver the loan to either GSE?

The appraisal data will remain in the UCDP and with the GSE(s) you designated, even though the loan was not delivered to a specific GSE.
When do the GSEs require lenders to submit their appraisals to the UCDP?

Freddie Mac and Fannie Mae require appraisals to be submitted to the UCDP before the loan is delivered to either GSE. We recommend lenders submit appraisals as early as possible to allow ample time for the correction process before funding is expected or required.

It is possible that there could be data errors and the portal will require that corrections be made by the appraiser to the appraisal report before the portal will provide a “successful” status, which is required for delivery.
Is there still a need to keep multiple hard copies of appraisals in the loan file at our branch?

Lenders must follow each GSEs requirements and the lender’s own policy as it relates to retaining hard copies of appraisals.
How long will the appraisal be available to the lender if they need to replace the one that was originally submitted?

An appraisal submitted to UCDP that receives a Doc File ID is accessible for viewing within the portal for up to three years. If the appraisal is modified after the original submission to the portal and the submission needs to be updated you are able to replace the original submission or add another appraisal (as appropriate). This situation may occur on appraisals that support a new construction loan or if the appraisal for new construction is no longer valid because of the age of the appraisal.

Each GSE has existing guidelines that must be adhered to as applicable regarding the age of the appraisal and when a new or replacement appraisal should be uploaded to UCDP.
What Internet browsers support the use of the UCDP?

Internet Explorer (IE) 6.0 or higher is the only supported/confirmed browser for the UCDP. Other versions and other browsers (Mozilla, Firefox, etc) may work, but they are not supported.

Uniform Mortgage Servicing Dataset FAQs

General

What is the Uniform Mortgage Servicing Dataset (UMSD)?
What are the objectives of the UMSD project?
What will be the benefits?
How does the UMSD fit in with other UMDP efforts?
How will UMSD affect servicers, vendors, and other industry participants?
What will be the approach?
How will the GSEs work with stakeholders and what is the dataset development timeframe?
Will UMSD use the same version of the MISMO Reference Model used for the ULDD?
What are the overall project timeframes?

General

What is the Uniform Mortgage Servicing Dataset (UMSD)?

The UMSD is an industry servicing data standard. Development of the UMSD is a component of the Federal Housing Finance Agency’s (FHFA’s) 2012 Conservatorship Strategic Plan and Scorecard for the GSEs and governed by the Uniform Mortgage Data Program® (UMDP®).
What are the objectives of the UMSD project?

The GSEs seek to lay the groundwork for more efficient mortgage servicing industry operations and improved investor disclosures. The UMSD will define a standard dataset for data exchanges between servicers and investors with standardized definitions, formats, and valid data values.
What will be the benefits?
The UMSD will provide the following benefits:
- Improved operational efficiency
- Increased data quality and consistency
- Enhanced disclosure for investors and regulators
- Reduced miscommunication between stakeholders by decreasing the use of codes and derived fields
How does the UMSD fit in with other UMDP efforts?

UMDP has already provided industry and housing market benefits by standardizing mortgage delivery data (ULDD) and appraisal data (UAD). UMSD will build on that success by extending the benefits to servicing data to enhance consistency, improve loan quality, and strengthen risk management. Like other UMDP initiatives, the UMSD will leverage the Mortgage Industry Standards Maintenance Organization® (MISMO®) data standards. The GSEs will work with MISMO to continue to build the MISMO dataset for servicing to meet the needs of the industry.
How will UMSD affect servicers, vendors, and other industry participants?

The UMSD will allow industry participants, including investors, to have a clear and consistent view of each loan throughout the servicing lifecycle. Through standardization of servicing data, the UMSD will enhance operational efficiency in providing more consistent data to stakeholder organizations. Moving from the current practice of using different proprietary servicing data files to a standard dataset based on a common XML file structure will be a significant and long-term project. The phased implementation approach will help industry participants plan for the investment in resources and technology required to migrate to the newer MISMO XML file format and collect and control additional new data fields.
What will be the approach?

Because the UMSD encompasses a large dataset, we plan to implement the data collection in phases over several years. The GSEs will work closely with key industry stakeholders throughout the process to understand data collection challenges, and adoptability.
How will the GSEs work with stakeholders and what is the dataset development timeframe?

Beginning in December 2012, and continuing for several months, the GSEs are conducting joint, targeted outreach to stakeholders including servicers, lenders, technology providers and other vendors, mortgage insurers, regulatory bodies, private investors, and MISMO. The targeted audiences will be asked for input to help define the Phase 1 dataset specification to be released in 2013.
Will UMSD use the same version of the MISMO Reference Model used for the ULDD?

No. Due to enhancements to the MISMO data standards to support an expanded servicing dataset, we will use a newer version of MISMO for the UMSD.
What are the overall project timeframes?

We are currently in the early stages. We plan to publish a Phase I specification and implementation plan in 2013. UMSD Phase I will include only a subset of the full UMSD data requirements that will eventually be collected by the GSEs.