Property valuation technology developer Veros said its VeroSELECT valuation management platform has been updated to interface with the Uniform Collateral Data Portal, the still-pending technology platform the government-sponsored enterprises will use to accept appraisal data on mortgages they purchase.
Making that task easier is the fact that Santa Ana, Calif.-based Veros is the third-party developer of the UCDP and has a head start on updating its technology with the tools for the mortgage and appraisal industry to connect to the UCDP. The GSEs are expected to release a list in February of other technology providers that will build UCDP integrations prior to the UCPD’s launch.
The UCDP and corresponding Uniform Appraisal Dataset are components of the Uniform Mortgage Data Program, a Federal Housing Finance Agency-mandated initiative for Fannie and Freddie to use technology to standardize data collection from mortgage and appraisal documents.
