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CSS providers Fannie Mae Freddie Mac develop UCDP portal
MADISON, Wis. (6/28/11)--CUNA Strategic Services, Fannie Mae and Freddie Mac have developed a Web page that provides information on the Uniform Collateral Data Portal (UCDP), which is a website for the electronic submission of appraisal data files developed by government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. Fannie Mae and Freddie Mac are CUNA Strategic Service providers. Lenders will be required to use UCDP to submit electronic appraisal data files that conform to all GSE requirements, including the Uniform Appraisal Dataset (UAD) when applicable, before the delivery date of the mortgage to either Fannie Mae or Freddie Mac. The UAD defines all fields required for an appraisal submission for specific appraisal forms and standardizes definitions and responses for a key subset of fields. More details about the UAD can be found at Fannie and Freddie websites. Using the UAD and UCDP, lenders will have a GSE-consistent approach and understanding of appraisal definitions and requirements as well as a common portal for submitting appraisal data files. To access the CUNA Strategic Services-Fannie Mae-Freddie Mac UCDP information page, use the link.
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