Fannie Mae has unveiled its Collateral Underwriter (CU), a new risk assessment tool designed to help lenders manage appraisal quality. On that date, any appraisal submitted to Fannie Mae through the Uniform Collateral Data Portal (UCDP) will get appraisal risk scores, flags and messages in real time from CU. Buyers and Sellers should be aware that this new process could add some cost to the appraisal, and also has the potential to take longer, possibly delaying some closings if lenders and Real Estate Agents are not prepared for it.
Appraisal Changes
February 5, 2015 By
