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Fannie Mae New Appraisal Rules Will Cause Slow Down in Closing Escrow

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Real Estate Agent with Gold Star Agent. DRE# 01235960

Beginning January 26, CU will perform an automated risk assessment of appraisals submitted to Fannie Mae

through UCDP and will return a CU risk score, flags, and messages on the Fannie Mae Findings tab in UCDP,

in the Submission Summary Report (SSR), and via direct integration.

Lenders may use the CU risk score to segment appraisals by risk profile, resulting in more efficient resource

allocation, workflow management, and collateral risk management processes. The score will be provided in

message ID FNM1000 and will be based on CU’s automated assessment on a scale of 1.0 (lowest risk) to 5.0

(highest risk). If a CU risk score cannot be generated on a 1004 or 1073 appraisal form, a “999” will be

returned and a message in the FNM09XX series will provide more specific information about why the appraisal

could not be scored  READ MORE

https://www.fanniemae.com/content/release_notes/ucdp-change-notification-01262015.pdf

 

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