
To Facilitate the Electronic Collection of Appraisal Report Data to the Government Sponsored Enterprises GSEs, Fannie Form
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People also ask
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What sort of electronic information collection does the Uniform Collateral data Portal facilitate?
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.
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What is the purpose of a restricted appraisal report?
The primary benefit of this report type is the price of the appraisal- due to the fact that only minimal details are presented in the report, it takes less time for an appraiser to develop, and conversely, costs less than a full Appraisal Report.
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Can appraisers deliver UAD compliant appraisals directly to the GSEs via the UCDP?
Can appraisers deliver UAD compliant appraisals directly to the GSEs via the UCDP? No, the UCDP is an electronic system used for the delivery of appraisal data from the lender to the GSE. Either choose from the list of possibilities or be specific if the choice is "other". Abbreviations are acceptable.
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What are the 3 types of appraisal reports?
Appraisal reports that communicate either complete or limited appraisals may be presented in three formats: self-contained reports, summary reports, and restricted reports.
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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.
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What is the SSR report for appraisals?
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.
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What is the essential difference between the appraisal report and the restricted appraisal report?
Restricted appraisal reports are cost-effective because they are more succinct and include fewer incidental details than other appraisal report options. For the most part, they reflect the judgment, advisory opinion and conclusion about how the appraiser arrived at their findings.
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What is a self contained appraisal report?
Detailed Answer Typically, Self-Contained Reports are only used in commercial valuation settings due to the amount of information presented. This type of report has more detail and information than both Restricted Use and Summary appraisal reports.
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