Freddie Mac & Fannie Mae to Build a Database to Store Electronic Property Data

As of September 1st, the new guidelines for appraisal submissions to Freddie Mac and Fannie Mae went into effect. Through their Uniform Collateral Data Portal (UCDP), the GSEs will be accepting electronically submitted property data from lenders. While the UCDP “went into voluntary effect June 27,” the use of the UCDP will be a requirement as of March 19, 2012. In turn, the GSEs plan to build a database to house appraisal information for “every mortgage sold to them.” http://bit.ly/qqAmwp

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