UCDP Release Notification
May 16, 2012
Your efforts to successfully adopt and implement the Uniform Collateral Data Portal® (UCDP®) by March 19 mean that collectively we have reached another important milestone in the implementation of the Uniform Mortgage Data Program®.
To date, the GSEs (Freddie Mac and Fannie Mae) have established requirements for appraisal data delivery and standardized the required appraisal data formats for the Uniform Appraisal Dataset (UAD)-supported appraisal report forms. Today, both GSEs use the same set of checks in the UCDP, including the UCDP hard stops and the UAD Compliance Check, and these checks will remain aligned going forward. As communicated previously, each GSE may also apply individual policies to the standardized appraisal data submitted to the UCDP. These individual policies may result in the availability of GSE-specific feedback messages in the UCDP in the future.
Originate & Underwrite and Sell & Deliver
UCDP Submission Summary Report Updates
The UCDP Submission Summary Report (SSR), available through the UCDP Web application and direct integration systems, will be enhanced on June 9, 2012, for appraisals submitted to Fannie Mae; and on or before July 1, 2012, for appraisals submitted to Freddie Mac. The SSR will be expanded to include an additional section that provides UCDP edits and UAD compliance messaging. The new section, called "The Appraisal Findings Detail Report," should not require any additional integration work for integrated lenders or vendor solution providers, nor will users be required to take any additional action to receive this report. We will be working with all integrated lenders and vendors in the coming weeks.
Each GSE will provide more information about the Appraisal Findings Detail Report in June.
UCDP User Interface Updates
On June 9, 2012, Freddie Mac and Fannie Mae will update the UCDP User Interface to implement the following enhancements for appraisals submitted to either GSE:
- Changes to the Appraisal Failure Summary Report and the Appraisal Failure Details Report: At the completion of a report request for hard stop information, only the hard stops that match the user's report request (and not all of the possible hard stops) for each appraisal data file within the selected date range will be identified. For example, if Hard Stop Code 101 did not occur within the selected date range in the search criteria, then this hard stop will not be shown on the report. In addition, the Hard Stop Code legend displayed at the bottom of these reports will include only the Hard Stop Codes listed in the body of the reports. These changes will improve the clarity and readability of the reports.
- Hard Stop Numbers: On the UCDP Appraisal Information section of the View/Edit page, the hard stop number will now appear, in addition to the hard stop name and description. This will provide you with more information about any hard stops encountered during appraisal submissions.
- Upload Confirmation Report: The Upload Confirmation Report will be updated to include both Freddie Mac and Fannie Mae upload status values on the report. This change aligns the Upload Confirmation Report with other UCDP functionality that already delivers independent statuses for each GSE.
More information about the UCDP, including training and resources, is available on Freddie Mac's UCDP Web page to support your ongoing use of the UCDP. Be sure to check out the recorded tutorials that provide you with a self-paced training opportunity on how to use the UCDP application, including how to upload and submit appraisal data files, reporting options, and more.
This communication relates to the Uniform Mortgage Data Program, an effort undertaken jointly by Fannie Mae and Freddie Mac at the direction of their regulator, the Federal Housing Finance Agency.