To ensure consistency across the industry, Fannie Mae and Freddie Mac recently sent out several reminders regarding submissions of appraisals in the Uniform Collateral Data Portal (UCDP). The reminders were as follows:
Doc File IDs:
- The Doc File ID assigned by the UCDP must only be used for one loan. A new Doc File ID must be created for each new loan.
Required Appraisal Submission:
- Please designate the required appraisal (i.e. required by the loan product) in the Appraisal 1 Section.
- If corrections are made to the required appraisal that was submitted, the revised required appraisal should be uploaded in the Appraisal 1 Section.
- If the lender obtains a new appraisal that will be used as the required appraisal, the new appraisal should be uploaded in the Appraisal 1 Section.
- For additional information on how to upload a corrected appraisal file, refer to the Appraisal 1: File Operations subsection on the Appraisal: View/Edit page in the UCDP.
Additional Appraisals Submitted:
- If you are utilizing a program/product that requires a second of third appraisal to be obtained on the subject property, you should upload those appraisal data files in the Appraisal 2 and/or 3 Sections.
- If you obtain an additional appraisal on a UAD form to support your own processes, the additional appraisal may be uploaded to the UCDP in the Appraisal 2 and/or 3 Sections.