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Uniform Mortgage Data Program Q&As

Updated on October 29, 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 expanding the UMDP to include industry-wide servicing data standards, called the Uniform Mortgage Servicing Dataset (UMSD), and the Uniform Closing Dataset (UCD), a common industry dataset to support the Consumer Financial Protection Bureau's (CFPB) proposed Closing Disclosure form.

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

General Uniform Mortgage Data Program

  1. What does it mean that Freddie Mac and Fannie Mae are "working together"?
  2. How does the Uniform Mortgage Data Program (UMDP) enhance data accuracy and quality?
  3. What is MISMO?
  4. What is the role of the MISMO organization in this effort?
  5. How do the objectives of the UMDP impact other parts of the loan origination and secondary market delivery process?
  6. Will the GSEs be sharing lender-specific information with each other?
  7. How will lenders benefit from the requirement to transmit additional loan data, which will likely require a significant resource investment for them to implement?
  8. How will the data standards be aligned, coordinated, and governed?
  9. Who is the point of contact for questions about the MISMO Version 3.0 Reference Model?

General Uniform Mortgage Data Program

  1. 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 and delivery of mortgage 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.

  2. 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.

  3. 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/.

  4. 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. The MISMO Version 3.0 Reference Model serves as the basis for the Uniform Loan Delivery Dataset (ULDD). The MISMO Property Valuation Response Version 2.6 Schema Errata 1 serves as the basis for the Uniform Appraisal Dataset (UAD) that the GSEs require for appraisal delivery.

  5. 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.

  6. 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.

  7. How do lenders benefit from transmitting additional loan data?

    Improving the consistency and accuracy of the data regarding the loan, borrower, and property provides 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.

  8. How are the UMDP data standards 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.

  9. 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

Updated on November 13, 2013

Phase 2 ULDD Implementation Timeline

  1. Fannie Mae recently announced a delay in their implementation of the Phase 2 ULDD. Is Freddie Mac also delaying their Phase 2 ULDD implementation?
  2. If I primarily deliver loans to Fannie Mae, do I still need to implement the Phase 2 ULDD data points for the August 25, 2014, mandate?
  3. Why don’t Freddie Mac and Fannie Mae align on the implementation dates?
  4. What will happen if I try to deliver loans containing Phase 2 ULDD data to Fannie Mae’s Loan Delivery system on or after August 25, 2014?  Updated 10/29/13
  5. What about testing for the Phase 2 ULDD?

General Phase 2 ULDD Questions

  1. What is the focus of the Phase 2 ULDD specification?
  2. What are the key dates for the Phase 2 ULDD?
  3. 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?  Updated 10/29/13
  4. What do the designations "Required," "Conditionally Required," "Conditionally Independent," and "Optional" mean?
  5. How many data points are contained within the Phase 2 specification?  Updated 10/29/13
  6. Why is Freddie Mac revising some of the Phase 1 data points?
  7. Will any of the Investor Feature Identifiers (IFIs) be removed in the Phase 2 ULDD?
  8. Why isn't Freddie Mac retiring all of the codes it requires at loan delivery?
  9. Will Freddie Mac provide a customer test environment (CTE) for Phase 2?
  10. Will Freddie Mac work with vendors on the Phase 2 implementation?
  11. Will you be updating the Phase 2 ULDD specification, Appendix A – Freddie Mac XML Data Requirements V.3.2.0?
  12. 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?
  13. Do you have any plans to transition to another version of MISMO in the future?

General ULDD Questions

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

Phase 2 ULDD Implementation Timeline

  1. Fannie Mae recently announced a delay in their implementation of the Phase 2 ULDD. Is Freddie Mac also delaying their Phase 2 ULDD implementation?

    No. Freddie Mac is not making changes to the ULDD Phase 2 timeline. We will continue to work closely with lenders and vendors to help you prepare for the August 25, 2014, mandate.

  2. If I primarily deliver loans to Fannie Mae, do I still need to implement the Phase 2 ULDD data points for the August 25, 2014, mandate?

    Yes! Both Freddie Mac and Fannie Mae have determined that it is imperative that all lenders be prepared to deliver 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.

  3. Why don’t Freddie Mac and Fannie Mae align on the implementation dates?

    While we’re aligned on the Phase 2 ULDD dataset, Fannie Mae has delayed the implementation of the Phase 2 ULDD to incorporate new data elements necessary to comply with eligibility requirements outlined in their May 6, 2013, Lender Letter.

    Freddie Mac will also need to support the same requirements, as outlined in our May 6, 2013, Industry Letter; we can incorporate necessary changes and still continue the work of the Phase 2 ULDD on schedule.

  4. What will happen if I try to deliver loans containing Phase 2 ULDD data to Fannie Mae’s Loan Delivery system on or after August 25, 2014?  Updated 10/29/13

    As described in Fannie Mae's June 27, 2013, communication, beginning August 25, 2014, Fannie Mae’s Loan Delivery system will simply treat the Phase 2 data as "optional" until Fannie Mae implements the required system changes. Recently, Fannie Mae and Freddie Mac announced that two data points that were specified in Appendix E-MISMO V.3.0 Reference Model with GSE Extensions, were deferred to ULDD Phase 3.

    Since these data points are not included in Phase 2, Freddie Mac has removed Appendix E from our website and our requirements. Appendix E-MISMO V.3.0 Reference Model with GSE Extensions will be updated at a later date to include all the Phase 3 changes. For additional information on deliveries to Fannie Mae, contact your Fannie Mae representative.

  5. What about testing for the Phase 2 ULDD?

    Freddie Mac will provide a Customer Test Environment (CTE) for all lenders to help them prepare for the August 25, 2014, Phase 2 ULDD mandate. The CTE will be made available in advance of the transition period, which begins on May 19, 2014, and will allow customers to test the delivery requirements for Freddie Mac.

General Phase 2 ULDD Questions

  1. 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 (Exhibit 34: Investor Feature Identifiers) and replacing them with more granular data.

  2. 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. Note, however, if you choose to deliver any Phase 2 data points prior to August 25, 2014, the selling system will expect all of the applicable Phase 2 data points, and the loan will be validated against the Phase 2 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.

  3. 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?  Update 10/29/13

    No. If you choose to deliver any Phase 2 data points prior to August 25, 2014, the selling system will expect all of the applicable Phase 2 data points, and the loan will be validated against the Phase 2 requirements.

    However, if you deliver loans to Freddie Mac with “Optional” data points that are being activated with Phase 2, be sure to deliver data accurately in those data fields. Loans that are evaluated prior to the start of the transition period but fund after the start of the transition period will not have been evaluated against the edits for the “Optional” data points being activated for Phase 2, but will be subject to post funding data evaluation and correction based on those data points. Therefore, we encourage you to pay special attention to the accuracy of the data delivered on loans that straddle the start of the transition period in order to avoid post funding data corrections.

  4. 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.
  5. How many data points are contained within the Phase 2 specification?  Updated 10/29/13

    The Phase 2 data specification contains 16 data points, 15 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) or Conditionally Required (CR). 
    • One data point is “net new,” which means it was not within the Phase 1 ULDD specification.
  6. 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.

  7. 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.

  8. 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.

  9. 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.

  10. 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.

  11. Will you be updating the Phase 2 ULDD specification, Appendix A – Freddie Mac XML Data Requirements V.3.2.0?

    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.

  12. 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.

  13. 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

  1. 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.

  2. How is Appendix A different from Appendix D?

    Appendix A and Appendix D – Freddie Mac XML Data Requirements Reference Tool V.3.2.0 contain identical information. However, Appendix D is in Excel, which enables you to easily sort and organize the data.

  3. 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.

  4. 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.

  5. 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.

  6. 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.

  7. 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

Updated on June 10, 2013

Appraisal Data Standardization

  1. What does appraisal data standardization mean?
  2. Are all fields required to be completed on the appraisal forms?
  3. Within the UAD Specification documents, what does Required, Conditionally Required, and Transmit mean?
  4. May fields be left blank if the data is not available or applicable?
  5. Does the UAD standardize or limit the information and/or data that appraisers can include in the addenda to an appraisal report?
  6. Is the "gray space" usable on the forms?
  7. What is the difference between data points noted in Appendix D: Field-Specific Standardization Requirements, that are "Required" versus an "Instruction"?
  8. 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?
  9. Do the GSEs approve or certify appraisal forms vendors whose software is in compliance with the UAD?
  10. Now that MISMO Version 3.1 Reference Model is available, will you revise the specification at some time in the future to use that version?
  11. Is the data entered into fields with standardized UAD responses case sensitive in the PDF file?

General – Appraisers

  1. Is there any limitation on the information that may be provided in the appraisal report?
  2. Some users and readers of appraisal reports (such as borrowers) may not understand some of the standardized responses and abbreviations mandated by the UAD. Do appraisal reports that are completed using the UAD abbreviations conform to the Uniform Standards of Professional Appraiser Practice (USPAP)?
  3. What is a "first-generation PDF"?
  4. Is the UAD required for appraisals for mortgages being sold to the Federal Housing Administration (FHA) and Department of Veterans Affairs (VA)?
  5. 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.
  6. 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?
  7. 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?
  8. 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?
  9. Can the UAD Quality and Condition ratings be applied to manufactured housing?
  10. The UAD requires the sales type for the subject property and each comparable property be reported. How does the "Sale Type" list work?
  11. What if some of the UAD required information for a comparable property is not available?
  12. What if information about basement is not readily available in the local MLS or public records?
  13. 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?
  14. What if the complete dates (mm/dd/yyyy) for the prior sale of the subject property or the comparable properties cannot be obtained?
  15. The UAD requires whole dollars only in some fields where dollars and cents have previously been allowed. If rounding causes inconsistencies, is that ok?
  16. Must the XML file contain all data entered on the PDF version of the appraisal report?
  17. How should the appraiser rate the Condition and Quality of a property with substantial outbuildings?
  18. How does the UAD Location rating apply to the neighborhood of the subject and comparable properties?
  19. Prior to the introduction of the UAD, many appraisers used the "Location" field 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?
  20. 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?
  21. 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?
  22. 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?
  23. 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?
  24. Should the contract section of the appraisal report be completed if the assignment type is not a purchase?

General – Seller/Servicers

  1. Do lenders have to send the appraisal data to both GSEs?
  2. Does data from the appraisal dataset transfer to loan delivery or must data be resubmitted to loan delivery?
  3. Why does my appraisal receive Hard Stop 401 (UAD Compliance Check Failure) in the UCDP when the data appears correct within the PDF version of the appraisal? New

UAD Standardization Requirements

  1. 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?
  2. 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, is the appraiser 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?
  3. Does the UAD standardize the Market Conditions Addendum (Freddie Mac Form 71/Fannie Mae Form 1004MC)?
  4. 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?
  5. With so many fields being standardized (such as Condition and Quality ratings) is there any requirement or purpose of providing a narrative description anymore?
  6. Are the Quality ratings (Q1 – Q6) consistent with other industry standards?
  7. Are appraisers still able to place effective age, along with actual age, in the Sales Comparison Approach Grid?
  8. What if a United States Postal Service (USPS) address does not exist for a property?
  9. What if the USPS address is a PO Box?
  10. The UAD requires that the appraisal report contain the physical property address which must be entered in a format that conforms to USPS address standards. Where should the legal, or other address of the property be included if the lender requires that information?
  11. What if there is a conflict between the physical address and the official address from the municipality?
  12. Can the UAD be applied to the other GSE appraisal report forms?
  13. Where is the name of an AMC involved in an appraisal assignment reported?
  14. 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"?
  15. 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)?
  16. Can the latitude and longitude of the subject property be provided to identify its physical location?
  17. What if a view or location associated with a property is not on the UAD view or location factor list?
  18. 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?

Appraisal Data Standardization

  1. 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.

  2. 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 are 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 performs 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.

  3. 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.

  4. 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.

  5. 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 is the preferred sections in which to include additional data, such as the legal property address, if it is different from the USPS standardized address.

  6. 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.

  7. 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.

  8. 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.

  9. Do the GSEs approve or certify appraisal forms vendors whose software is in compliance with the UAD?

    No. The GSEs worked closely with the appraisal forms vendors as they incorporated the UAD requirements into their current appraisal forms, but do not certify or approve vendors that are in compliance.

  10. Now that MISMO Version 3.1 Reference Model is available, will you revise the specification at some time in the future to use that version?

    At the time the project was launched, MISMO Version 3.1 Reference Model was in development and not yet published.

    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.

  11. Is the data entered into fields with standardized UAD responses case sensitive in the PDF file?

    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

  1. 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.

  2. Some users and readers of appraisal reports (such as borrowers) may not understand some of the standardized responses and abbreviations mandated by the UAD. Do appraisal reports that are 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 are able to understand the UAD required standardized responses and definitions. 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.

  3. 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 or imbedded within the XML by the appraiser's forms software before the appraisal is transmitted by the appraiser.

  4. Is the UAD 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 implemented the UAD for conventional loans sold to either GSE. Questions pertaining to FHA and VA requirements should be addressed to those organizations directly

  5. 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.

  6. 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.

  7. 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.

  8. 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.

  9. 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.

  10. 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.

  11. 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.

  12. What if information about a basement 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).

  13. 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

  14. 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.

  15. 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.

  16. 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.

  17. 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.

  18. 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.

  19. Prior to the introduction of the UAD, many appraisers used the "Location" field 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 form and, if necessary, make appropriate adjustments.

  20. 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?

    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.

  21. 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?

    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.

  22. 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 must 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.

  23. 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?

    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.

  24. Should the contract section of the appraisal report be completed if the assignment type is not a purchase?

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

General – Seller/Servicers

  1. 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.

  2. Does 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. The data should be resubmitted to the applicable GSE.

  3. Why does my appraisal receive Hard Stop 401 (UAD Compliance Check Failure) in the UCDP when the data appears correct within the PDF version of the appraisal? New

    The XML file may have missing, truncated, or incorrect information even when the data within the PDF version of the appraisal appears correct. This could occur when data is extracted from a PDF to create the XML file, when the appraisal was created using older or not updated versions of forms software, or in other rare instances where there may be an XML compiling or generation error. If errors persist please consult your technology vendor for assistance.

    We encourage all users to submit appraisals in the preferred MISMO® 2.6 Errata 1 GSE Extended format to help ensure a successful submission.

UAD Standardization Requirements

  1. 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.

  2. 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, is the appraiser 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.

  3. 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.

  4. 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.

  5. 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.

  6. 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.

  7. Are appraisers still 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.

  8. What if a United States Postal Service (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.

  9. 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.

  10. The UAD requires that the appraisal report contain the physical property address which must be entered in a format that conforms to USPS address standards. Where should the legal, or other address of the property be included if the lender requires that information?

    In cases where the lender provided address is not the physical address and/or does not conform to UAD requirements, this address of the property may be included in an addendum.

  11. 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.

  12. 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.

  13. 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.

  14. 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.

  15. 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."

  16. Can the latitude and longitude of the subject property be provided to identify its physical location?

    Yes. The latitude and longitude data fields for subject and comparable properties have been added to the UAD specifications. The latitude and longitude data fields are existing MISMO fields that will be captured by the UCDP, beginning June 22, 2013, if the data fields are present in the XML file. No UAD edits will be issued for these fields at this time.

  17. 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.

  18. 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 than 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.

Uniform Collateral Data Portal

Updated January 9, 2014

General

  1. Do both GSEs accept the same electronic file format for delivery of appraisal report data?
  2. What fees are the GSEs charging associated with the use of UCDP? 
  3. What training is available for UCDP?
  4. Can I obtain the appraisal file in XML format from my appraiser?
  5. Is it required to submit appraisals supporting government loans such as Rural Development, FHA, and VA mortgages to the UCDP?
  6. What vendors have developed integrations to UCDP? 
  7. Does the UCDP accept a field review (including those reported on Fannie Mae Form 2000/Freddie Mac Form 1032)?
  8. 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? New
  9. 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

  1. How does a lender register and gain access to the portal?
  2. How do lender agents register for UCDP?
  3. If I am an independent fee appraiser, can I register for access to UCDP?
  4. If I am a mortgage broker, should I register for UCDP?
  5. Who do I call if I have questions about the registration process for UCDP?
  6. What if I cannot remember my User ID or my Password for UCDP?
  7. Do passwords for UCDP expire?

UCDP Functionality

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

Freddie Mac Proprietary Appraisal Messaging – NEW

  1. What is Home Value Explorer® (HVE®) in UCDP?
  2. What HVE message(s) will the UCDP provide for submitted appraisals?
  3. If I submitted an appraisal to the UCDP prior to January 12, 2014 and need to resubmit a corrected version of the appraisal after this date, what HVE message(s) will I receive?
  4. Where will the HVE message be displayed in the UCDP?
  5. What does a Seller do when they receive a message that HVE values are unavailable or suppressed?

General

  1. Do 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 preferred XML format, can be found on both GSEs websites.

  2. What fees are the GSEs charging associated with the use of UCDP?

    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.

  3. What training is available for UCDP? 

    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.

  4. Can I obtain the appraisal file in XML format from my appraiser?

    Yes. This is the preferred method of obtaining the data file and has been found to be the most reliable. Most appraisal form software vendors have integrated the ability to produce and transmit XML 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 vendor PDF conversion charges in UCDP.

  5. Is it required to submit appraisals supporting government loans such as Rural Development, FHA, and VA mortgages to the UCDP?

    No, only the appraisal reports for conventional mortgages sold to the GSEs are required to be submitted to UCDP.

  6. What vendors have developed integrations to UCDP?  

    A list of vendors that offer an integrated system interface to the UCDP is available on both GSE’s web sites, FreddieMac.com and FannieMae.com.

  7. 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 obtains a field review the original appraisal report must still be submitted to the portal. In the event that the lender relied upon the value obtained by the field review, 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.

  8. 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? New

    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).

  9. 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

  1. 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 FannieMae.com.

    If you are a general user, your lender admin will create your access directly within the portal.

  2. How do lender agents register for the UCDP?

    Lender agents must complete the UCDP Lender Agent Registration Form on either FreddieMac.com or FannieMae.com to request a UCDP account and appear on the lender agent list within 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.

  3. 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.

  4. If I am a mortgage broker, should I register for the UCDP?

    No. Mortgage brokers cannot register for the UCDP.

  5. Who do I call if I have questions about the registration process for the UCDP? 

    To support questions related to registration and submitting appraisals to UCDP, contact the joint GSE UCDP Support Center at 1-800-917-9291.

  6. What if I cannot remember my User ID or my password for the UCDP?

    If you forget your User ID or password:

    • Contact your lender admin who will be able to look up your User ID or reset your password in the UCDP.
    • If you don't know your lender admin, contact the UCDP Support Center at (800) 917-9291.
  7. 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

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

    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.

  2. How do I ensure the appraisal was completed using a UAD compliant form?

    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.

  3. 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.

  4. 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.

  5. 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.

  6. 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.

  7. 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.

  8. 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.

  9. 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.

  10. 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.

  11. 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.

  12. How are revised appraisals handled in the UCDP?

    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.

  13. What happens if I get a UAD compliance check message?

    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. Lenders may need to contact the appraiser to clarify data points or obtain additional data to clear certain edits checks.

  14. Do 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.

  15. 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.

  16. 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.

  17. 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.

  18. 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.

  19. 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.

Freddie Mac Proprietary Appraisal Messaging  – Updated

  1. What is Home Value Explorer® (HVE®) in UCDP?

    HVE is Freddie Mac’s Automated Valuation Model (AVM) that generates an estimate of property market value. HVE was integrated into the UCDP to help Sellers evaluate appraisal accuracy and identify potential collateral risk.

    In response to the compliance requirements from the Consumer Financial Protection Bureau’s final rule on the Equal Credit Opportunity Act amendment under Regulation B, effective on January 18, 2014. HVE valuation messages are temporarily suspended and access to HVE point value estimates through the UCDP is not available.

    Please refer to Using Freddie Mac Property Valuation Data webpage for more information.

  2. What HVE message(s) will the UCDP provide for submitted appraisals?

    All appraisals submitted to the UCDP will receive a message that HVE values are unavailable in UCDP beginning January 12, 2014. On or after January 26, 2014 all appraisals submitted to the UCDP will receive a message that the HVE values are suppressed.

  3. If I submitted an appraisal to the UCDP prior to January 12, 2014 and need to resubmit a corrected version of the appraisal after this date, what HVE message(s) will I receive?

    Appraisals submitted or resubmitted to the UCDP on or after January 12, 2014 will receive a message that HVE values are unavailable or suppressed in the UCDP. Any prior HVE valuation messages will no longer be displayed following a resubmission.

  4. Where will the HVE messages be displayed in the UCDP?

    The message that HVE values are unavailable or suppressed in the UCDP is displayed on the Appraisal View/Edit screen within the Freddie Mac tab and on the Submission Summary Report (SSR).

  5. What does a Seller do when they receive a message that HVE values are unavailable or suppressed?

    Freddie Mac recommends that Sellers continue to follow their current policies and procedures for reviewing appraisal reports.

Uniform Mortgage Servicing Dataset FAQs

General

  1. What is the Uniform Mortgage Servicing Dataset (UMSD)?
  2. What are the objectives of the UMSD project?
  3. What will be the benefits?
  4. How does the UMSD fit in with other UMDP efforts?
  5. How will UMSD affect servicers, vendors, and other industry participants?
  6. What will be the approach?
  7. How will the GSEs work with stakeholders?
  8. Will UMSD use the same version of the MISMO Reference Model used for the ULDD?

General

  1. 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®).

  2. 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.

  3. 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
  4. 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.

  5. 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.

  6. 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.

  7. How will the GSEs work with stakeholders?

    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 are providing input to help define the Phase 1 dataset specification.

  8. 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.

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