UCDP FAQ for Appraisers
This document answers some of appraisers' most frequently asked questions regarding the UCDP.
Document 8055 | Last updated: 03/13/2018 SPB
The GSEs have created the Uniform Collateral Data Portal (UCDP) so appraisal data can be submitted for loans that will be sold to Fannie Mae or Freddie Mac. Soon, lenders will be required to submit their appraisal data to the UCDP in order to sell their loans to Fannie Mae or Freddie Mac.
After December 1st, appraisers will start hearing feedback about the appraisals their clients are submitting to UCDP. We hope it's all good feedback, but we do expect some growing pains as lenders address technology issues and appraisars learn about new expectations. So, here are some of the frequently asked questions we've already been hearing from appraisers.
When do I actually have to deliver UAD-compliant appraisals?
After December 1st, the GSE's UCDP portal will no longer accept the non-UAD version of the 1004, 2055, 1073 or 1075. Make the version of the form says "UAD Version 9/2011" at the bottom of the form. In TOTAL and WinTOTAL, the UAD version of these forms can be found in Contents under the Uniform Appraisal Dataset Compliant folder. If you don't the lender's submission to UCDP will fail, and they'll be calling to request a revision.
Does the appraisal have to be error‑free to submit to UCDP?
While there are many warnings that the UCDP portal will currently ignore (they call it an "automatic override"), in the future those warnings will become errors that could prevent the appraisal from being accepted. We're already seeing clients request revisions if there are any warnings given by the portal, so it's a best practice to make sure the appraisal has successfully completed the E&O rules before delivering to your client.
What did the December 1, 2011 deadline mean and what other dates should I know about?
December 1, 2011 was a big day as far as UCDP is concerned. First (as mentioned above) all appraisals submitted to UCDP on or after Dec. 1st, 2011 must be on the UAD‑compliant form if required by UAD. Many lenders also started submitting their appraisals to UCDP on this day. That's because any loan originated on or after Dec. 1, 2011 must have Submission Summary Report (SSR) from UCDP with a status of "Successful" so it can be sold to Fannie or Freddie on or after March 19, 2012.
Will all the appraisals I write be submitted to UCDP?
Any appraisal sold to Fannie Mae or Freddie Mac will need to be submitted to UCDP if it was originated on or after December 1st, 2011. This includes any UAD appraisal, as well as several others. Here's the complete list of appraisals that must be submitted to UCDP:
- Uniform Residential Appraisal Report (Fannie Mae 1004/Freddie Mac Form 70 UAD Version)
- Exterior-Only Inspection Residential Appraisal Report (Fannie Mae 2055/Freddie Mac Form 2055 UAD Version)
- Individual Condominium Unit Appraisal Report (Fannie Mae 1073/Freddie Mac Form 465 UAD Version)
- Exterior-Only Inspection Individual Condominium Unit Appraisal Report (Fannie Mae 1075/Freddie Mac Form 466 UAD Version)
- Manufactured Home Appraisal Report (Fannie Mae 1004C/Freddie Mac Form 70B)
- Small Residential Income Property Appraisal Report (Fannie Mae 1025/Freddie Mac Form 72)
- Individual Cooperative Interest Appraisal Report (Fannie Mae Form 2090)
- Exterior-Only Inspection Individual Cooperative Interest Appraisal Report (Fannie Mae Form 2095)
Do I have to correct the E&O warnings with the yellow flags as well?
The simple answer is "no." Only the rules that have a red flag and start with "UAD –" are required to be fixed before delivering the report to your client. These UAD errors deal specifically with the UAD and UCDP requirements, so the best practice is to clear any of these errors before delivering the report to your client.
The appraisal passes my E&O rules but is generating errors when I deliver it to my client. Why is it failing?
We have seen instances where clients have created error‑checking rules that they run on their website before ever delivering the file to the GSE's portal. In some of these cases we've found that these rules were misinterpretations of the GSEs' requirements and the appraisals can actually be submitted to UCDP succesfully. We've been working on these rules hand‑in‑hand with the GSEs for over a year, and continue to ensure that our error-checking matches the UCDP requirements by cross‑verifying them with the portal.
In most cases, we recommend using our field‑by‑field guidance document found here as well as our in‑field guidance text to show your client it is not in error.
I keep getting an error about my addresses not being USPS Standardized. How do I fix it?
If you've run the USPS Standardization step in the map wizard and are still getting the UAD error message, most likely there is a problem geocoding the address. You'll know this by the color of the confidence bubble in the map wizard in TOTAL or WinTOTAL. If the bubble is red, we were unable to geocode the address properly and the best way to correct this error is to exit the map wizard and click Tools, Convert Addresses to USPS Standards. At the bottom of this window, check Assume all addresses are USPS standardized and hit OK.
How do I clear warnings from comparables that are not in the report?
We've seen some cases where comparables that appear to be blank are being included in the MISMO XML file that's delivered to your clients. This is typically caused by a space (or something else that's difficult to see) in a field in a comp that should be totally blank. The best way to ensure that this is not the case is by going to the comparable in question and hitting == to clear the comp and try again.
My client tells me they're getting an error: "Unmatched Appraiser License Information" but I've double‑checked my license info, and it's correct. What's up?
Most likely, this has something to do with the way the license number is formatted. Your name and license number need to match the Appraisal Sub‑Committee's records exactly. If you haven't entered your name or license number exactly as they appear in ASC — even if it's to comply with a state or other regulation — your client will encounter this error.
My client says that they are receiving the error: "XML file type cannot be auto-detected" but I've verified that I'm sending them a valid XML. Why is it failing?
This occurs because your client flagged the order to require a GSE-compliant form but the 1004D isn't one of those forms. In these cases, the client must remove that requirement or the report will need to be delivered using a 1004 UAD Major form and a minor 1004D. For more information, please refer to the UCDP guide that explains this error.