Appraisal Compliance

The release of the Home Valuation Code of Conduct has raised many questions on the part of lenders, appraisers, and others involved in mortgage lending activities. Lenders that sell loans to Fannie Mae or Freddie Mac likely are reviewing their internal appraisal operations to make sure they comply with the Code.

Valutrust can help your organization retool and restructure your lending operations to achieve appraisal compliance.

Appraiser Independence

Valutrust Solutions adheres to the highest ethical standards in ensuring that the appraisals we deliver have been completed by knowledgeable appraisers who haven’t been improperly influenced.  Our services safeguard your compliance with the Dodd-Frank bill, which requires appraiser independence as outlined below.

• Appraiser Independence Requirements

Uniform Mortgage Data Program

The UMDP is a joint effort by Fannie Mae and Freddie Mac (the GSEs) at the direction of the Federal Housing Finance Agency (FHFA) to standardize and drive data quality that benefits the entire mortgage industry. Fannie Mae and Freddie Mac understand the magnitude of the change required to achieve this important goal and its impact on a number of industry players. To facilitate its successful adoption, the GSEs have collected extensive feedback from a wide array of customers, lenders, appraisers, and other industry participants.  This common approach for the uniform data standards will minimize implementation differences and will:

• Create operational efficiency that simplifies data exchange and improves response to changing requirements and market conditions.
  
  
• Strengthen respective risk management capabilities.
  
  
• Improve transparency and confidence in the loan decision by using the same root data in the processes that lenders use.
  
  
• Improve data accuracy and confidence in loan quality.
  
  
• Identify areas where common standards support greater data consistency.

The Uniform Mortgage Data Program is an ongoing effort that will continue to enhance the data standards over time. To facilitate adoption of the new requirements, the GSEs have developed:

The (UAD) format defines all fields required for an appraisal submission for specific appraisal forms and standardizes definitions and responses for a key subset of fields to enhance data quality and promote consistency.

All completed Valutrust appraisals conform to the new (UAD) data format and are delivered through the Valutrust portal.

(ULDD) leverages the industry-recognized MISMO standard. This loan delivery dataset has aligned the GSE's with the core data elements and their definitions.

Valutrust delivers MISMO standard datasets along with ACIXML datasets with every appraisal order.

The Uniform Collateral Data Portal (UCDP) is a single portal through which lenders can electronically submit appraisal reports formatted in the (ULDD) for conventional mortgages delivered to Fannie Mae or Freddie Mac.

Through the Valutrust portal, lenders can submit their appraisals to both Fannie and Freddie and receive verified completion certificates, all at the click of a button.

Valutrust's portal meets the most robust standards for assuring the privacy and integrity of your trusted information.  We deploy the latest in cloud-based technology and adhere to the auditing examination performed in accordance with the Statement on Auditing Standards No. 70(SAS 70).

By employing best practices in physical security, operational security and system security, our hosting environment is designed to ensure the highest levels of security for your data.