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LL 15 Uniform Appraisal Dataset and Uniform Collateral Data Portal
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People also ask
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What is the Uniform Collateral data portal?
The Uniform Collateral Data Portal® (UCDP®) is a single portal for the electronic submission of appraisal data files to Freddie Mac and Fannie Mae and facilitates the electronic collection of appraisal report data. -
Is the 1004C a UAD form?
Uniform Appraisal Dataset and Uniform Collateral Data Portal This includes the four UAD appraisal report forms and four additional forms: Uniform Residential Report (Fannie Mae Form 1004) Manufactured Home Appraisal Report (Fannie Mae Form 1004C) -
What is an SSR in mortgage?
Appraisals done for conventional loans are uploaded to an industry-wide Uniform Collateral Data Portal (UCDP). Here the appraisal report is given a rating called a Submission Summary Report (SSR). The SSR score is what prompts appraisal reviews. The SSR score ranges from 1.0 to 5.0. -
What are SSRS in mortgage?
Appraisals done for conventional loans are uploaded to an industry-wide Uniform Collateral Data Portal (UCDP). Here the appraisal report is given a rating called a Submission Summary Report (SSR). The SSR score is what prompts appraisal reviews. The SSR score ranges from 1.0 to 5.0. -
What does SSR stand for in Fannie Mae?
As a reminder, PennyMac requires all pages of a successful Uniform Collateral Data Portal (UCDP) Submission Summary Report (SSR), from both Fannie Mae and Freddie Mac. -
Which appraisal forms are UAD compliant?
Fannie Mae requires that the following appraisal report forms are completed utilizing Appendix D of the UAD Specification when reporting the results of an appraisal for a conventional loan: Uniform Residential Appraisal Report ( Form 1004), and. Individual Condominium Unit Appraisal Report ( Form 1073). -
What is the purpose of the UCDP?
To facilitate electronic delivery of appraisal report data to the government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac developed the Uniform Collateral Data Portal® (UCDP®) as part of the Uniform Mortgage Data Program® (UMDP®). -
What is SSR in loan?
You should consider the information available within the UCDP's Freddie Mac Submission Summary Report (SSR) and/or Loan Collateral Advisor to determine whether the appraisal report provides sufficient information to support the analysis and conclusions. -
What is the UCDP for appraisal?
UCDP provides a common pathway for the electronic submission of appraisal data files to the GSEs. Lenders and/or their agents can submit appraisals to Fannie Mae, Freddie Mac, or both GSEs. -
Which type of loans does the appraisal data requirements of the UAD apply to?
Lenders are required to use the UCDP to deliver electronic appraisal data that conforms to the UAD before the delivery date of the mortgage loan to Fannie Mae or Freddie Mac. This requirement applies to all conventional mortgage loans for which an appraisal report is required. -
What do you mean by appraisal data?
An appraisal is an assessment of the fair market value of a property, business, antique, or even a collectible. Appraisals are used to estimate the value of items that are infrequently traded and are often rare or unique. -
What is the purpose of the universal appraisal dataset?
What does appraisal data standardization mean? The Uniform Appraisal Dataset (UAD) defines all fields required for an appraisal submission for specific appraisal forms and standardizes definitions and responses for a key subset of fields. -
What is the SSR for Fannie Mae?
The SSR contains a summary of the appraisal submission(s) for each loan, the status of the submission(s), and a Document File Identifier (Doc File ID), which is part of the unique appraisal identifier generated by UCDP.
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