UCDP and UAD Solutions

In an Aug. 19 news release, Veros Real Estate Solutions announced that its new PATHWAY solution can be used for submitting reports on the Uniform Collateral Data Portal. Clients can use the new offering for additional appraisal quality control prior to UCDP submission, while the product enables upgrading to a higher-volume platform.

PATHWAY includes a PDF extraction feature, and PDFs can be converted to the approved XML format. The platform accepts Uniform Appraisal Dataset reports and non-UAD reports. In addition, a preview enables a quality check on content to confirm information is ready for UCDP submission.

Earlier this month, Veros said that it had completed the first successful integration of a mortgage lending client with the Uniform Collateral Data Portal through its Valuation Risk Management technology platform.

“In 2010, Veros was selected by the GSEs as the technology provider for UCDP,” the Santa Ana, Calif.-based service provider said. “In this role Veros is responsible for building, maintaining and supporting the UCDP system, as well as managing all lender connectivity.”

Appraisals on all conventional loans delivered to Fannie Mae and Freddie Mac after March 18, 2012, are required to be submitted to the UCDP prior to delivery on loans with applications dated on or after Dec. 1 of this year.

Global Kinex has been integrated into the UCDP, Global DMS said last month. New customers of Global DMS will receive introductory pricing of $1 per appraisal file. Fees for existing clients of the Lansdale, Pa.-based technology provider will be waived as long as they are using premium versions of the eTrac Enterprise Edition and Oasis valuation management platforms.

“Standardizing data to the new MISMO XML 2.6 GSE format will have a very positive impact on the industry because it increases transparency, reduces subjectivity and allows data to be accessed, analyzed and utilized much more easily,” Global DMS Chief Executive Officer Vladimir Bien-Aime said in the statement.

But the $1-per-report offer from Global DMS, a MortgageDaily.com advertiser, only stands until Thursday.

Coester Appraisal Group announced last month its full compliance with the UCDP and UAD. The Rockville, Md.-based appraisal management company held a training Webinar in response to client feedback that compliance with the requirements is confusing or overwhelming.

SharperLending LLC said that UCDP submission can be made directly from its Appraisal Firewall product. The firewall reportedly complies with the Dodd-Frank appraisal rule and Interagency Appraisal and Evaluation Guidelines. Appraisals can be submitted in XML or PDF format.

Dave Black, president and CEO of SharperLending, said in the statement that it’s likely that other investors could follow Fannie and Freddie’s lead and require that appraisals be uploaded to UCDP.

Also jumping on the UCDP bandwagon was Appraisal.com. The Palm Coast, Fla.-based firm was named as an acceptable UCDP delivery standard and has integrated a UCDP appraisal delivery platform, according to an Aug. 2 statement from ACI. Available formats include MISMO 2.6 Errata 1 GSE Extended, ACI and AI Ready. Free training for the offering includes a technical-focused seminar and a practitioner’s seminar.

A 70-branch New England-area bank and client of DataQuick is using the San Diego company to comply with the Interagency Appraisal and Evaluation Guidelines on its home-equity loan business, a news release last month said. DataQuick helped the bank address concerns over the requirement for all non-appraisal eligible loans to have supported evaluations that include data or photos verifying the current condition of a property.