This topic contains information on the Uniform Appraisal Dataset and the Uniform Collateral Data Portal, including:
The UAD standardizes appraisal data elements for a subset of fields on specific appraisal report forms and includes all data elements required to complete these forms. Fannie Mae requires that the following appraisal report forms are completed utilizing Appendix D of the UAD Specification when reporting the results of an appraisal for a conventional loan:
Uniform Residential Appraisal Report (Form 1004), and
Individual Condominium Unit Appraisal Report (Form 1073).
Other appraisal report forms may be completed using the standards contained in the UAD Specification to the extent those standards are applicable to that particular form. Lenders may obtain the most recent version of Appendix D of the Uniform Appraisal Dataset Specification on Fannie Mae’s website. Additional information concerning UAD may be found on Fannie Mae’s website.
The UCDP is a portal through which lenders are required to electronically submit appraisal reports for conventional loans delivered to Fannie Mae. The following appraisal report forms including all exhibits, addenda, and photographs, must be submitted through the UCDP and receive a “Successful” status from the UCDP prior to the delivery date of the loan:
Uniform Residential Appraisal Report (Form 1004),
Manufactured Home Appraisal Report (Form 1004C),
Small Residential Income Property Appraisal Report (Form 1025),
Individual Condominium Unit Appraisal Report (Form 1073), and
Individual Cooperative Interest Appraisal Report (Form 2090).
If there are subsequent revisions to the appraisal report, the final version of the report that was utilized in making the underwriting decision must be submitted through the UCDP and receive a “Successful” status from the UCDP prior to the delivery of the loan. When submitting an appraisal report through the UCDP, lenders must ensure that it is the unaltered report submitted by the identified appraiser.
Additionally, for loans that require an appraisal, lenders must ensure that the appraised value as indicated on the appraisal submitted in UCDP matches the appraised value as reported at delivery. An exception is allowed for this requirement when the appraisal used to underwrite the loan is a desk or field review of an existing appraisal because those types of reports cannot be up-loaded to UCDP. In those instances, the appraised value reported at delivery will reflect the value as stated in the desk or field review. However, the original appraisal that was the subject of review must have been submitted to UCDP.
Appraisal report forms not listed above cannot be delivered through UCDP with the exception of the Appraisal Update and /or Completion Certificate (Form 1004D), which is optional. Lenders must maintain the applicable appraisal report and attachments in the loan file as part of the underwriting documents in accordance with A2-5.1-02, Ownership and Retention of Loan Files and Records. Lenders may obtain detailed information on the UCDP page on Fannie Mae’s website.