In the past Virginia Housing occasionally required appraisals to be shared through Fannie Mae’s Universal Collateral Data Portal® (UCDP®). In order to continue to offer Conventional financing and meet the requirements of our agreement with Fannie Mae, going forward we will require Originating Lenders to share appraisal data through Fannie Mae’s UCDP for all Virginia Housing Conventional Fannie Mae and Conventional No MI loans. This does not apply to Conventional Freddie Mac loans.
The appraisal must be shared with Virginia Housing when a Conventional Fannie Mae or Conventional No MI closed loan is submitted to us for purchase. Evidence it has been shared does not have to be in the submission, however, if the Originating Lender prefers to include it that is acceptable. The UCDP Submission Summary will continue to be required in each Conventional package.
Originating Lender administrators must add our Aggregator Name and ID in UCDP if they have not already done so – Name: Virginia Housing and ID: CRW157. Please forward this to your Fannie Mae UCDP administrator and the person or department within your company handling Fannie Mae’s UCDP appraisal sharing if they do not receive our announcements. If you are unfamiliar with sharing appraisals through UCDP, Fannie Mae provides resources on their website including a
UCDP Appraisal Sharing Job Aid for Correspondents and UCDP Appraisal Sharing User Guide.
This is effective for any loans submitted to Virginia Housing for purchase on or after September 1, 2021. Originating Lenders may begin sharing immediately prior to September 1 if preferred.
Contact Virginia Housing’s