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Fannie, Freddie unveil new UCDP updates
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Fannie Mae and Freddie Mac have released the “Uniform Collateral Data Portal (UCDP) Release Notification and Uniform Appraisal Dataset (UAD) Update” for May. The update specifies four main changes to the UCDP that industry professionals should be aware of for Fannie and Freddie loans.
The main change is a reminder that the government sponsored enterprises (GSE) will only accept MISMO XML submissions in the UCDP beginning July 13. As part of this requirement, appraisals in PDF, ACI XML and AIReady formats will not be accepted after the specified date, and the PDF extraction services will be retired on July 13 as well.
Non-MISMO files will still be able to be accepted in the UCDP prior to July 13, but if these non-MISMO reports are slightly altered and resubmitted after that date, an error message or hard stop will be returned.
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