Fannie Mae Announces Web Portal Update

Fannie Mae announced this week its plan to update the Uniform Collateral Data Portal (UCDP) to include Collateral Underwriter (CU) feedback. UCDP is a Web portal through which lenders electronically submit appraisal reports for conventional mortgages delivered to Fannie Mae or Freddie Mac. Through UCDP, lenders can upload appraisal data and view edits and submission details. Fannie Mae introduced appraisal risk score, risk flags, and new messages into the UCDP in January.

The “Appraisal Findings Report,” which is available through Message Manager, will be updated in April to include the CU feedback. The report, which is available to Fannie Mae sellers and services, covers appraisals submitted to the UCPD in the prior month and is generally available on the fifth business day of each month. The new report will replace three separate reports Fannie Mae currently provides by combining that information into one file. The updated file will replace the Overview of Fannie Mae Proprietary Messages on Active Appraisals report, Fannie Mae Proprietary Appraisal Message Trending Summary by Seller and Servicer report, and the Summary Report for Active Appraisals.

The updated “Appraisal Findings Report” will have four tabs showing activity from the previous month. The four tabs will include summary of the distribution of CU risk scores and frequency of risk flags on appraisal submissions, lists of the frequency of CU, Fannie Mae and UCDP/UAD messages by message ID on appraisal submissions, the number of submissions to UCDP and the number of corresponding appraisals viewed in the CU Web-based user interface, and lists of the lender’s individual users of the CU user interface and number of appraisals viewed by each one.

To access the report in Message Manager, users must be registered as either a Seller Only or Message Manager Reports. The report is available at the 9-digit seller/servicer level to the selling report distribution. Current users can download the updated “Appraisal Findings Report” beginning in April 2015 with no additional registration required. New users who want to gain access to Message Manager must contact their company’s technology manager.