Veros Real Estate Solutions, a Santa Ana, California-based technology provider, announced Wednesday a new solution that satisfies the GSEs’ Uniform Closing Dataset requirements, which go into effect next week.
“We are pleased to announce our new VeroDATAFI for lenders to be able to comply with the new UCD requirements and address the system and process challenges that September 25th will bring,” said Charles Rumfola, SVP of Strategic Initiatives at Veros.
Veros already has a strong relationship with the GSEs. In fact, Rumfola said, “Veros played an integral part in successfully implementing the Uniform Collateral Data Portal (UCDP) for the GSEs, and we are looking to build on that success for UCD.”
VeroDATAFI accepts UCD XML data and delivers it directly to Fannie Mae and Freddie Mac. The delivery can take place either through the VeroDATAFI web portal application, a secure portal that connects directly to the GSEs and offers pre-delivery checks.
A second option is to deliver the files through the Application Programming Interface Automation Integration via Veros’ PATHWAY. According to Veros, this solution “seamlessly integrates into the lender’s current infrastructure and is the right technology for high volume delivery.”
VeroDATAFI leverages Veros existing PATHWAY, which according to the company is ranked No. 1 for appraisal delivery volume into the UCDP and exceeds 99.9 percent up-times.
“VeroDATAFI is certified by both Fannie Mae and Freddie Mac for the UCD XML file delivery, which enables lenders to start immediately delivering the UCD XML file to the GSEs, Rumfola said. “We are excited to continue to work with both our lender customers and the GSEs to expand upon our proven systems to continue to serve the mortgage industry’s compliance needs.”
The GSEs will begin implementing their UCD requirements Monday, September 25 and will only accept UCD XML files.