Phase II Freddie Mac Proprietary Messages in the UCDP Coming June 2014
February 26, 2014
As announced in our November 2013 Single-Family News Center article, we are implementing the second phase of Freddie Mac's proprietary messages in the Uniform Collateral Data Portal® (UCDP®) in June 2014. This second phase is aligned with our effort to provide improved appraisal quality feedback. The enhancements to the UCDP are part of our Greater Purchase Certainty initiative, to provide you with more confidence that the loans you sell to us meet our purchase requirements.
These enhancements will include Freddie Mac’s next phase of proprietary messages and introduce the first set of feedback messages specific to appraisal quality. Future enhancements in the UCDP will provide a more in-depth view into the quality and accuracy of appraisal submissions. The June enhancements will:
- Provide you with feedback regarding appraisal submissions that may not meet certain Freddie Mac requirements.
- Identify appraisal findings that Freddie Mac may review post-purchase for a specific appraisal submission.
- Offer specific data relative to certain findings to assist you in managing risk and help you achieve greater purchase certainty.
New Freddie Mac-Specific Hard Stop in the UCDP
As part of the enhancement a new Freddie Mac-specific Hard Stop code (which will receive an automatic override in UCDP); and Freddie Mac-specific message IDs for Uniform Appraisal Dataset (UAD) appraisal submissions will be added to the UCDP. Receiving this Hard Stop code and associated messages on appraisal submissions will not prevent a "Successful" submission status in UCDP at this time.
The Freddie Mac message IDs associated with the new appraisal messages are in addition to the Home Value Explorer® (HVE®) message IDs currently returned in UCDP. We will publish a list of the Freddie Mac message IDs with the associated messages prior to the June implementation.
The additional feedback you will receive on the appraisal reports submitted to the UCDP will be specific and actionable. The new appraisal messages will focus on areas Freddie Mac is evaluating for consistency such as *:
- Messages on appraisal data accuracy for data validated against external sources or against previously submitted appraisals.
- Messages on comparable selection.
- Compliance messages on select Freddie Mac property eligibility requirements.
*These are a sample of the categories, which will be displayed in the UCDP after the June enhancements. The appraisal messages are not limited to the sample categories listed above.
The new proprietary feedback messages will be returned through the UCDP user interface and/or system-to-system interfaces.
For more information about the UCDP, including training and resources, visit: