UMDP: More details on the broader initiative.
Dustin Moore, President, Real Estate Solutions Division
labs@alamode.com
For the last several months we've been telling you about how the GSEs' new Uniform Mortgage Data Program will affect appraisers. We've covered how your workflow will change, which fields are being standardized, and how TOTAL 2011 and WinTOTAL Aurora will get you UAD compliant as easily as possible.
But until now we haven't talked much about the broader UMDP initiative. The truth is that the UMDP is a sweeping change that affects more than appraisers. Lenders and AMCs both have massive workflow changes coming too. We wanted to share with you a couple of videos that our Mortgage Solutions Division put together for the entire industry.
The first video is a broad overview and readiness check for everyone in the lending industry. We cover the basic vocabulary, the various programs that make up the UMDP, and a check-list for getting your business ready for the UDMP. If you haven't spent much time learning about the UMDP, this is 12 minutes well spent.
The second video is more lender-focused and talks in detail about the data format that's mandated by the GSEs. You'll learn how to cut through the alphabet soup (UMDP, MISMO, XML, OCR, etc) and learn exactly how the GSEs require their data. And, more importantly, you'll see how TOTAL and WinTOTAL generate "native" XML.
As the clock keeps ticking towards the UMDP implementation deadlines, you can be sure that we're going to help everyone in the industry adapt to these new ways of working. If you have any questions about how the UMDP will affect your business, shoot us an e-mail at labs@alamode.com.
