CNDC-005 Collateral Underwriting Appraisal Sharing
NOTICE TO NON-DELEGATED CORRESPONDENT CUSTOMERS
Uniform Collateral Data Portal (UCDP) Appraisal Sharing
The Appraisal Sharing functionality via the Uniform Collateral Data Portal (UCDP) designed by Fannie Mae and Freddie Mac, enables lenders to easily share appraisal information with their aggregators/investors.
In 2016 Fannie Mae rolled out the ability for Correspondent customers to provide FLCBank access to their appraisals in Collateral Underwriter (CU), allowing us to thoroughly examine individual appraisals when the CU risk score identifies appraisals with heightened risk of quality issues, overvaluation, and property eligibility or policy compliance violations through Collateral Underwriting’s (CU) dynamic web-based interface for an in-depth appraisal analysis.
In order to perform an in-depth analysis on appraisals with CU risk score > 2.5, NDC customers will be required to share appraisals in UCDP so that our team can access the appraisal in CU. The underwriting approval will be conditioned for the appraisal to be shared….