As part of Freddie Mac’s efforts to enhance data quality, Freddie Mac compares a select set of appraisal data fields delivered through the Uniform Collateral Data Portal (UCDP) with loan delivery data entered into the selling system. Starting April 22, the government-sponsored enterprise (GSE) will expand the set of data fields, and the selling system will compare a loan's property address delivered through the UCDP against the property address entered into the selling system.
Remember that the GSE’s data comparisons rely upon the Appraisal Identifier that the appraiser enters into the selling system. The Appraisal Identifier is the Document File Identifier (Doc File ID) that the appraiser received from the UCDP. The appraiser needs to ensure that the Appraisal Identifier in the selling system matches the Doc File ID in the UCDP, and that the UCDP submission receives a successful status.
The following is a list of the changes you'll see beginning April 22:
- Address scrubbing: The selling system will "scrub" the property address and convert it to the official U.S. Postal Service listing for the property. For example, if the appraiser enters Oak Rd., the system will change the address to Oak Road. If the appraiser enters a rural route, the selling system will change the address to a physical location whenever possible.
- Property address comparison: The property address entered in the selling system will be compared with the address submitted through the UCDP to ensure data accuracy and consistency. If the addresses are not identical, the appraiser will receive an edit message within the selling system's Loan Evaluation screen and will be able to view the addresses in the UCDP Appraisal Data Details section at the bottom of the screen.
If the data entered in the selling system does not match the data in the UCDP, the appraiser will need to either update the data in the selling system or resubmit the correct appraisal data to the UCDP. Remember that all appraisals must be uploaded to the UCDP at least one day before delivering the loan to Freddie Mac. The appraiser must wait until the UCDP data is updated before reevaluating the loan, so ensure you have processes in place to correct the data for smooth delivery. The appraiser can access a job aid that will describe the process that sellers must follow to successfully compare the appraisal data delivered in the selling system with the appraisal data in the UCDP.
- Message delivered if system is unavailable: If Freddie Mac's internal system is temporarily unable to validate or match selling system data with the UCDP data, the appraiser will receive the following message:
UCDP appraisal data details cannot be validated at this time. No action is currently required. However Freddie Mac will perform this validation post settlement and notify you if further action is required.
If an appraiser received the message above, he or she will still be able to deliver the loan for funding and Freddie Mac will validate the appraisal data later. If there are any data inconsistency issues, the GSE will follow up with the appraiser to resolve the issues. Please keep in mind that appraisers are still required to deliver loan data according to the Freddie Mac Single-Family Seller/Servicer Guide requirements.
Export capability provided: Now appraisers can export UCDP-specific data in the selling system for their files, making it easier to retrieve and store information. For more information on exporting data, be sure to review the Export Your Loan Data job aid, which will be available beginning April 22.
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