The UCDP – Submit Appraisal screen allows a user to submit up to 3 appraisals at one time to Universal Collateral Data Portal (UCDP). Users can access the UCDP – Submit Appraisal screen with the applicable user rights (noted below) before and after the loan has been finaled from the left-side navigation under Forms & Docs.
General information about the loan, including the Loan Number, Borrower Name, Property Address and Document File ID, displays at the top of the screen.
To upload an appraisal, the user will follow the following steps:
· Step 1: Select the Appraisal Number you want to assign to the appraisal file you will upload.
· Step 2: Click Browse to locate the appraisal file on your computer.
· Step 3: Click Upload to import the appraisal file.
· Step 4: Repeat steps 1-3 to upload a maximum of three appraisals.
· Step 5: Select the appropriate submission action.
· Step 6: Select the check box for the Fannie Mae and/or Freddie Mac Seller/Servicer Number that should be included with the request.
· Step 7: Click the Submit button to submit your request, or click cancel to return to the Pipeline.
Tip: Only MISMO Format 2.6 GSE UAD Compliant Appraisals are supported.
Tip: If the ‘Action’ column shows “N/A” this means the file cannot be deleted since it has been used in the most recent submission. You can delete appraisals 2 or 3 using the Submit Action. Appraisal 1 cannot be deleted once used in a submission, but you can update it by selecting Appraisal 1 from the drop-down, and uploading another Appraisal Report file from your computer.
The uploaded appraisals will always remain on the screen. The screen will load with the Seller/Servicer Number stored in Admin and the user credentials stored in Admin will be used to submit to UCDP.
The drop-downs in the submission screen are dynamic so the Appraisal Number will then default numerically to Appraisal 2 after Appraisal 1 is uploaded. The LOS mirrors UCDP on the web by allowing up to three appraisals per loan submission. The system will also post a validation warning displaying the property address in the appraisal being uploaded so the user can compare that to the property address to the loan in the LOS.
The Submit Action will always default to Submit Appraisal the first time the user enters the screen. This will be the first step to submission. After that action is complete the user will choose the next submit action of Get Findings. The user will be able to view the findings by clicking on the View Findings hyperlink on the submission screen or by clicking on the View icon next to Services > UCDP – Submit Appraisal in the left-side navigation. This will show the user any UAD Compliance warnings, Hard Stops that were automatically overridden, and Hard Stops that will need to be requested to be overwritten or that cannot be overwritten.
To request a Hard Stop be overwritten, click the View/Change hyperlink under the Overrides column on the UCDP submission screen to open the Hard Stop Overrides window. Select a Hard Stop Code and Hard Stop Reason from the drop-down menu, type a comment, click Add, and then choose the Submit Action of Request Hard Stop Overrides. Select Get Findings from the Submit Action to verify that the override request was accepted.
Hard Stops that cannot be overwritten will not display a Hard Stop Code in the drop-down menu and a new/updated appraisal must be submitted. A new/updated appraisal should be uploaded as Appraisal 1 (or the original appraisal number) to update the version on the submission screen. The Action by column will display the user that uploaded the appraisal and the Action – Upload Date/Time will show the date and time the action was performed. When the corrected appraisal is uploaded, the user will choose the Submit Action of Add/Upload Corrected Appraisal, followed by the Action of Get Findings.
Another action item is the ability to Change Seller Number. This action is tied to the user right to Override Seller/Servicer Numbers and will allow the user to submit to the portal through another Seller/Servicer Number than the Seller/Servicer Number stored in Admin. The user must then follow that action with the Action of Get Findings.
Once the findings show that all is correct with the UCDP Submission, the user can perform the Submit Action of Get Reports. This is will bring in the Fannie/Freddie SSRs and will appear as hyperlinks at the top of the view screen and will take the user to the PDF version.
Tip: Every action performed on this screen will also be stored as its own event in Loan History.
Tip: The Document File ID will be stored on the submission screen for each submission and will be reportable form the DataMart through the TRANSMITTAL_DATA table under the field name UCDP Document File ID.