The GSEs’ new appraisal regulations (as part of their UMDP initiative) are set to take effect on September 1st and it’s the biggest change to appraisals in decades. Now’s the time to get a plan together so you can avoid fees and closing delays when you submit appraisals to the GSEs. Are you ready?

a la mode has just announced a full slate of training courses that will help you prepare, and you don’t even have to be their client. Here’s what we’ll cover:

Do you know how to read a UAD-compliant appraisal?
The GSEs have issued new rules that standardize appraisal data and there are some big changes to how appraisers will notate things like number of bedrooms, number of baths, and a whole lot more. Many fields of the typical appraisal report are affected by these new rules, so your appraisal data will need a decoder ring until you get the hang of things.

How will you submit your appraisals to the GSEs?
For any loan originated on or after December 1st, you will have to submit appraisal data to the GSEs through their new Uniform Collateral Data Platform (UCDP). This platform only accepts appraisals in two formats: MISMO XML (the preferred format), or a first-generation PDF. If you submit PDFs, there will be fees for conversion to XML so you’ll want to avoid that route. We’ll show you how to get the Native XML for error-free submission to the GSEs, and we’ll show you how to submit your appraisals easily to avoid closing delays and hassles.

Are you aware of all the deadlines associated with UMDP?
The deadlines can get tricky, but we’re here to help. Appraisers have to be in compliance by September 1st of this year, so you’ll probably start seeing these new reports fairly soon. As I mentioned above, you’ll have to submit data to the GSEs through their new platform for any loan that is originated before or on December 1st of this year. Then everything has to be compliant shortly thereafter.

Even though these deadlines are quickly approaching, we can help you get a plan together for compliance so you won’t run into fees or pipeline delays. But the first step is finding out what’s changing and how your workflow will be affected.

All of our training classes last about 30 minutes. They are open to the public and entirely free.
In each class, they’ll also give you some desk reference materials to make it much easier for you when UMDP takes effect. Don’t worry – these courses are NOT a dog and pony show for a la mode’s products. This is real, actual training you will use no matter what kind of appraisal management process you currently have. If you sell to the GSEs, you need to be in these courses.

See the UMDP Training schedule here and register now - www.mercuryvmp.com/help

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