Technology Corner
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Fannie’s changes to UCDP will more rigorously flag appraiser violations
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Fannie Mae has announced that it is in the process of changing its proprietary message system in the Uniform Collateral Data Portal (UCDP) in order to help lenders better spot potential problems in the appraisal review process.
Fannie instituted proprietary messages in the UCDP in January 2013 that were aimed at alerting lenders when inconsistencies were detected in appraisal data. The severity status of 21 of these messages will be revamped between the fourth quarter of 2014 and the first quarter of 2015 to force lenders to address flagged inaccuracies, rather than just suggest these inaccuracies be looked at.
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