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If your organization is not accepting 100% MISMO ready files, there is no better time to begin understanding your options. Accepting MISMO-ready files from the start is the best place to start, but here are some possibilities to help you transition.
UCDP requires MISMO-ready files be submitted to the portal, so when the in-portal source for extraction is removed, lenders who are still receiving appraisals as PDFs will need to find an alternate source to convert the files. Veros has offered PDF extraction services independent of the portal and will continue to do so in order to assist the lenders who still require this assistance.
Extraction requires first-generation PDF, which means the PDF file was provided directly from the appraiser’s desktop and was not modified, copied or scanned in the process of transmitting the file to the lender and/or to UCDP. Most PDFs can be exported via Veros’ “Tier 1” extraction process, which is a fully electronic extraction of the appraisal file. When a PDF requires additional effort to extract the lender can escalate the file to Tier 2 and ultimately Tier 3 appraisal extraction levels which incorporate a combination of digital and manual extraction, or fully manual extraction (respectively).
If receiving MISMO-ready files is not yet an option for your organization, click here to contact a Veros representative about how your team can begin transitioning to these non-portal PDF extraction services.
If your loan volume falls somewhere between manageable uploads to the UCDP web portal and large-scale direct integrations, then you’re one of thousands of lenders looking for a mid-sized solution and their own connection point. Veros’ Pathway provides just such a solution.
Pathway provides a system-to-system connection accepting first-generation PDFs and converting to the UCDP-approved MISMO format. Pathway also provides lenders the ability to preview and resolve potential UAD errors prior to submitting to the portal – all seamlessly through the Pathway.
If automating acceptance, conversion, UAD quality checks and UCDP submission is the solution you are looking for, click here to contact a Veros representative about Pathway.
If your appraisal delivery workflow needs more than just support moving from PDF to MISMO appraisal files, Veros’ Sapphire valuation management platform has the comprehensive solution to bring your organization up to the level of performance you require. Sapphire is a secure, web-based system that enables fully electronic valuation order, review and investor delivery, and includes quality control checks and audit trails all along the way.
Sapphire users are benefiting from a fully digital appraisal order process whether you utilize an appraiser panel, or one to many AMCs. The system’s quality control and compliance checks put you in control of the total quality of the valuations running through your pipeline.
Click here to learn more about Sapphire and how it can provide immediate returns in your valuation management process.
In RiskWire Webcast episode #28, Veros’ economists explore what the housing market in 2025 might look like, with insights into key macroeconomic factors that will have an influence. Also, explore the potential impacts of the recent election and what this might mean for housing prices.
Explore insights into Veros’ confidence scores for VeroVALUE and learn about the general importance of confidence scores in the housing finance sector!
In RiskWire Webcast episode #27, join Veros’ economists as they explore how the Fed’s rate cut and the 10-year Treasury yield will influence mortgage rates through 2024 and into early 2025. Understand the economic trends behind this uptick and its implications for future mortgage rates.
