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Veros Selected as Tech Provider for GSEs’ Uniform Collateral Data Portal

""Fannie Mae"":http://www.fanniemae.com/kb/index?page=home and ""Freddie Mac"":http://www.freddiemac.com/ have selected Santa Ana, California-based ""Veros Real Estate Solutions"":http://www.veros.com/ as the[IMAGE]

technology provider for the Uniform Collateral Data Portal (UCDP), which will support electronic appraisal data delivery to the government-sponsored enterprises (GSEs) as part of the Uniform Mortgage Debt Program announced May 24, 2010.

""As DSNews.com previously reported"":http://dsnews.comarticles/gses-implement-uniform-data-collection-for-appraisals-loan-delivery-2010-05-24, in order to enhance collateral risk management, the GSEs are going to begin requiring seller-servicers to submit full appraisal reports in electronic data format prior to loan delivery either to Fannie Mae or Freddie Mac. This new requirement will

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take effect April 1, 2011, and UCDP will serve as a centralized portal for these submissions.

Veros, which was also selected in 2009 at the technology provider for Fannie Mae's Collateral Data Delivery (CDD) portal for submission of electronic appraisal data, will assist with the transaction of CDD users to the new UCDP. In addition, Veros will be responsible for building, maintaining, and supporting the UCDP system, and the company will manage all lender connectivity to the portal.

In support of the appraisal data submission requirement, Veros said it is working with the GSEs to provide lenders with flexible alternatives to connect to UCDP via either direct system-to-system XML integrations or a Web-based portal through which appraisals can be submitted individually or in bulk. According to the company, lender integrations to UCDP are scheduled to begin in the fall of 2010.

""Veros is honored to be an integral part of the project that takes the first step toward enhancing appraisal quality across the mortgage industry,"" states Darius Bozorgi, president and CEO of Veros. ""UCDP will have long-lasting positive effects for stakeholders from investors to lenders, appraisers, and appraisal service providers with the ultimate beneficiary being the consumer.""

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