Veros Announces Streamlined Uniform Closing Dataset (UCD) Solution
Sep 20, 2017
New VeroDATAFI to provide flexible and proven Uniform Closing Dataset standardization and compliance
Santa Ana, Calif. – Sept. 20, 2017 – Veros Real Estate Solutions (Veros), one of the fastest growing technology leaders in enterprise risk management, collateral valuation and predictive analytics services, announced today VeroDATAFI, a GSE-certified platform to provide the mortgage industry a seamless Uniform Closing Dataset (UCD) solution to meet the fast-approaching September 25th mandate by the GSEs.
“We are pleased to announce our new VeroDATAFI for lenders to be able to comply with the new UCD requirements and address the system and process challenges that September 25th will bring,” said Charles Rumfola, Senior Vice President Strategic Initiatives at Veros. “Veros played an integral part in successfully implementing the Uniform Collateral Data Portal® (UCDP®) for the GSEs, and we are looking to build on that success for UCD.”
Veros has a proven development and implementation track record, combined with a strong understanding of the new and existing regulations, having built the direct connection to the GSEs' UCDP to address the Fannie Mae and Freddie Mac mandate to have the Uniform Appraisal Dataset (UAD) be a part of the loan delivery process. Veros’ PATHWAY service is the de facto standard in the industry ranking #1 in appraisal volume and uptime. Leveraging PATHWAY’s established infrastructure and platform into Fannie Mae and Freddie Mac, VeroDATAFI will deliver the market a flexible means to comply with UCD and the pending deadline.
Rumfola continues, “VeroDATAFI is certified by both Fannie Mae and Freddie Mac for the UCD XML file delivery, which enables lenders to start immediately delivering the UCD XML file to the GSEs. We are excited to continue to work with both our lender customers and the GSEs to expand upon our proven systems to continue to serve the mortgage industry’s compliance needs.”
VeroDATAFI layers on the PATHWAY platform the rules and processes to successfully automate the delivery of the UCD XML file, along with the associated PDF copy of the Closing Disclosure. The platform simplifies the predelivery UCD validation checks, and delivers alerts for potential issues. VeroDATAFI can accept UCD XML data, including the pre-embedded PDF, from any third parties and ensure secure delivery directly to the GSEs. In addition, VeroDATAFI gives lenders flexibility with two options for UCD-compliant delivery. The VeroDATAFI web portal provides users the ability to upload the XML file on demand and instantly deliver it to one or both GSEs. And, for a seamless connection to the GSEs, the direct API integration with PATHWAY automates high volume delivery that’s fast, reliable, and secured. The API solution seamlessly integrates into the lender’s current infrastructure.
For more information on VeroDATAFI, visit https://www.veros.com/what-we-offer/systems/verodatafi/. To learn more about Veros, visit www.veros.com.
About Veros Real Estate Solutions
Mortgage technology innovators since 2001, Veros is a proven leader in enterprise risk management and collateral valuation services. The firm combines the power of predictive technology, data analytics, and industry expertise to deliver advanced automated solutions that control risk and increase profits throughout the mortgage industry, from loan origination to servicing and securitization. Veros’ services include automated valuation, fraud and risk detection, portfolio analysis, forecasting, and next-generation collateral risk management platforms. For more information, visit www.veros.com or call 866-458-3767.
Jennie L. Craig
Veros Press Desk
714.415.6300, option 6