Our UAD features have graduated from the labs and are now part of TOTAL 2011 and WinTOTAL Aurora!

Background on UMDP/UAD

The forums have been buzzing, the vendors have been busy, and everyone seems to be throwing around a lot of acronyms. So what are the UMDP and UAD and what do they mean for you?

UMDP stands for the Uniform Mortgage Data Program, which was created jointly by the GSEs at the direction of the Federal Housing Finance Agency. It's designed as a way to standardize common requirements for appraisal and loan data across the entire transaction.

UMDP consists of several pieces, but the Uniform Appraisal Dataset (UAD) is the key piece that will affect day-to-day appraisal reporting, and consists of key appraisal data elements being standardized to ensure that they are consistently reported across the entire scope of the GSEs' loan portfolio.

Implementation of the Uniform Appraisal Dataset

We’ll merge the UAD requirements into the same basic formfilling processes you're already familiar with. For fields affected by the UAD, WinTOTAL and TOTAL 2011 will display the required data formatting. Or, in cases where multiple pieces of information are required, a new form pop-up will open automatically for you to choose required data from a picklist. Fields affected by new form pop-ups will also be shaded a different color as a helpful indicator.

Here, you can see an example of a new data collection pop-up, for the condition fields.

When you sign or deliver your report, a check will be run to determine if any standardized fields are out-of-spec, then you'll have an opportunity to return to them and correct them. If a standardized field does not meet the requirements set forth by the UAD, we'll indicate that to you by outlining that field with a red border, and when you click into the field a helpful dialog box will display the required formatting for that field.

We'll make the complete GSE UAD guidelines available from within the product as a reference during the transition to this new required reporting format.

You can see our solution in action in this short video:

Planned product support for UMDP features

Both WinTOTAL Aurora (Version 5) and TOTAL 2011 (Version 6) will have seamless handling for the new UMDP requirements. Unfortunately, the Athena (version 4) engine can't be updated with the same built-in UMDP handling as the other versions.

You'll still be able to write your reports in that version if you want, but you'll need to open your Athena files in either Aurora or TOTAL 2011 to verify the data and submit it to your client.

If you're an Athena user, you'll want to hit up our dedicated FAQ page by clicking here and read up on what you need to know.

Frequently Asked Questions

Where can I find more information about UMDP?

You can read about the UMDP on Fannie Mae or Freddie Mac’s websites (click here or here).

Fannie Mae and Freddie Mac’s UAD resource pages are also online (click here or here). These pages contains several important resources, such as their interactive resource manual and their online tutorial.

An FAQ written by the GSEs can be found online (click here and here).

You can read our articles outlining specific examples of changes for UAD and how they affect you here:

What is the UAD?

UAD is the Uniform Appraisal Dataset. It defines all fields required for an appraisal submission for specific appraisal forms and standardizes definitions and responses for a key subset of fields. It is the most visible portion of the UMDP initiative for appraisers and the one that will have the most direct impact on your workflow. The UAD is designed to address variations in formatting of numbers, dates, and measurements, as well as inconsistent terminology for identical information (such as view, property type, bathroom count, etc…)

The GSEs’ focus is on enhancing the quality of key appraisal data that is the most material to the valuation of a property or critical in determining its loan eligibility for sale to the GSEs. The appraiser will use the UAD to fill out these fields with standardized responses as outlined by Fannie and Freddie. Standardized response examples include:

Standardized formats for fields that include dates, values, etc…
Standardized abbreviations to allow more information to fit into form fields on printed appraisal forms.
Standardized ratings and definitions for condition, quality, etc...

Does this mean that appraisers won't be able to write their own comments in these fields?

In some cases, yes. Certain fields will have restricted pick lists to choose from. In other cases, the appraiser will have a choice for “Other” and can then comment freely. This varies from field to field according to the UAD requirements.

Where can I find more information about the Uniform Appraisal Dataset (UAD)?

Fannie Mae and Freddie Mac’s UAD summary documents are online (click here or here).

Will every report I write have to be UAD compliant?

No. Only reports that will ultimately be sent to Fannie Mae or Freddie Mac are required to be compliant. After installing this update, you'll be able to control whether the UAD is enabled by selecting either the UAD enabled version of your preferred form or the non-UAD version. You can swap between forms to enable or disable the UAD.

What forms are affected by the UAD?

Initially, the UAD will apply only to the following most commonly used uniform residential

appraisal report forms (Fannie Mae / Freddie Mac form numbers), which represent the vast majority of appraisals supporting loans delivered to the GSEs:

Uniform Residential Appraisal Report (Form 1004/70)
Individual Condominium Unit Appraisal Report (Form 1073/465)
Exterior-Only Inspection Individual Condominium Unit Appraisal Report (Form 1075/466)
Exterior-Only Inspection Residential Appraisal Report (Form 2055/2055)

Eventually, the GSEs do plan to expand the UAD to additional appraisal forms.

Who do I contact if I have suggestions for additions to or questions about the UAD?

The UAD was created and is maintained by Fannie Mae and Freddie Mac. We've been working with the GSEs from the beginning, offering feedback that we hear directly from appraisers, and will continue to do so. You can also contact either of the GSEs directly to provide your feedback.

Did the GSEs consult with appraisers or software vendors when creating the UAD?

Yes. We were involved in discussions with the GSEs and offered advice on how to minimize the disruption to appraisers' workflow as much as possible. Additionally, feedback from appraisers during the process resulted in several changes to the UAD that made it far less restrictive in many of the standardized fields.

When will UAD delivery be required?

The GSEs have said that UAD will be required for use on 9/1/2011.

Will the GSEs be providing training or additional guidance on how to use the UAD to properly fill out the affected appraisal forms?

Yes. You can find the official online tutorial and interactive resource manual by clicking here.

Additionally, we will be providing training materials and information on an ongoing basis and as part of our 2011 regional training tour.