Returning HVE Messaging to the UCDP
September 24, 2014
To provide you with feedback regarding the accuracy of an appraised property value, on November 23, 2014, we are reintroducing a subset of Home Value Explorer® (HVE®) messaging in the Uniform Collateral Data Portal® (UCDP®). This messaging was removed from the UCDP in January 2014, in response to customer concerns regarding the compliance requirements from the Consumer Financial Protection Bureau (CFPB) final rule on the Equal Credit Opportunity Act (ECOA) amendment under Regulation B.
This change is part of our continued effort to provide improved appraisal quality feedback through our proprietary messaging in the UCDP.
The feedback messages being reintroduced indicate if there is an excessive value, when applicable, or if HVE is unable to evaluate the appraised property address. The excessive valuation message indicates an increased probability that the appraised value for the subject property may be inflated. This message DOES NOT:
- Contain an HVE point value or other estimate of value for the subject property.
- Prevent the "Successful" submission of an appraisal report to the UCDP.
- Make the property ineligible or the appraisal report unacceptable.
The HVE messages are returned as findings and are associated with Freddie Mac proprietary Hard Stop code 800, which is automatically overridden. If the property address is successfully matched in HVE and the excessive valuation message is not returned, then you will not receive any HVE findings on your submissions.
For more information about the UCDP and HVE, including training and resources, visit:
- List of Freddie Mac UCDP Proprietary Messages.
- UCDP Web page.
- HVE Web page.
- Freddie Mac Learning Center.
- Using Freddie Mac Property Valuation Data Web page.