Electronic Appraisal Delivery

As the industry moves toward standardized, electronic transmission of appraisal data, make sure you are fully prepared to deliver the standard MISMO XML reports to the secondary market. 

Veros is the official technology provider for the Uniform Collateral Data Portal ® (UCDP®).  Led by Fannie Mae and Freddie Mac under the direction of the FHFA, UCDP is the first industry-wide initiative to facilitate the transmission of standardized appraisal data in order to improve data quality and reduce repurchase risk.  Complemented by the Uniform Appraisal Dataset (UAD) initiative, these programs have dramatically improved the industry’s ability to communicate in a consistent language and to review valuation risk much earlier in the loan lifecycle.  Click here for more information about UCDP.

FHA's Electronic Appraisal Delivery (EAD) portal, which is similar in scope to UCDP, will be mandated for all FHA-approved mortgagees, effective for all FHA case numbers assigned on or after June 27, 2016.

Other entities have already voiced their support and plans for adoption of UAD, and lenders should anticipate further movement from the secondary market into electronic appraisal delivery as well as analysis of the data received. 

For information on getting connected to these secondary market portals through a single, reliable integration, click here.

Appraisal ordering, receipt, quality control, review, UAD preview and UCDP / EAD submission are all seamless managed in Veros’ intuitive, web-based platform.  Whether you order appraisals from one or multiple AMCs or utilize your own panel of appraisers, Sapphire provides the ability to manage those orders in one fully connected ecosystem complete with detailed audit trails, reporting capabilities and rules-based permissions giving management teams total control and transparency into the valuations process. Learn more about Sapphire.

An ideal solution for companies looking for a system-to-system connection.  Pathway connects your existing valuation tools to UCDP and EAD through our approved vendor connection, and also provides the advance capacity to preview and resolve UAD/UCDP warnings and hard stops before the reports are sent through to the GSEs' portal. Learn more about PATHWAY.

As appraisal data flows through electronic delivery portals, those receiving the data have vastly improved capacities to analyze that data and make necessary risk-based decisions.  VeroSCORE conducts a fully automated review of an electronic appraisal on four primary factors: Completeness, Compliance, Credibility and Complexity. By reviewing your appraisal reports against these areas and using VeroSCORE’s suggested routing decision you can ensure the appraisals you deliver through the portals represent your highest levels of diligence and are helping you to maintain a clean and consistent record with the entities you rely on to purchase / insure your loans. Learn more about VeroSCORE.