Fannie Mae Releases UCDP Appraisal Notes
Fannie Mae will implement new proprietary appraisal messages in the Uniform Collateral Data Portal beginning Nov. 9, the government-sponsored enterprise reported Sept. 24.
The new appraisal messages will expand on existing Fannie Mae appraisal messaging and focus on providing additional data validation and reasonableness checks. The messages also will highlight possible eligibility concerns prior to loan delivery.
The data included in the reports is based on the appraisals provided to the UCDP in the previous month, and includes an overview of all appraisal messages (including Fannie Mae critical messages), summary information and benchmark and trending details.
The new messaging will be integrated into Fannie’s Appraisal Findings report starting with the December 2013 reports.