The Uniform Collateral Data Portal (UCDP) recently added a new appraisal-sharing functionality, which will enable correspondent lenders to share appraisal information with their aggregators. The Collateral Underwriter Version 3.2 will leverage the UCDP solution to provide aggregators access to their correspondents’ appraisals results in the CU web application, providing aggregators greater certainty in their correspondent loan pipeline, Fannie Mae announced.
Version 3.2 will include these updates:
- CU Appraisal-Sharing Functionality
- User Interface Enhancements
- CU Help Center Phone Number Update
In the appraiser-sharing details, the designated aggregator will be able to view the appraisal throughout the CU web application with the Version 3.2 release when a correspondent shares an appraisal in UCDP. Aggregators will be able to view all appraisals that were shared with them in UCDP beginning the weekend of May 21, regardless of whether the appraisals were shared on or before the weekend of May 21. All resubmissions of shared appraisals under the same DocFile ID will be viewable by the aggregator (the correspondent will not need to share again in UCDP).
Interface enhancements will include workflow search, search results, an appraisal summary bar, a subject appraisal tab, a comments tab and a characteristic history window and property records. Aggregators and correspondents can complete the UCDP appraisal sharing setup process now and begin sharing appraisals in UCDP immediately. This will enable aggregators to view shared appraisals in CU starting the weekend of May 21.
For more information and assistance, lenders may contact Fannie Mae at (800) 232-6643. Additional information about these changes and general functionality will be available in the updated Collateral Underwriter User Guide after the CU Version 3.2 release.