Understand the new Uniform Mortgage Data Program (UMDP) requirements for residential appraisers to effectively complete and transmit an appraisal report to a lender client. At this one-day seminar, you’ll learn the details behind the UMDP, which is a joint effort by Fannie Mae and Freddie Mac to standardize and improve data quality to benefit the entire mortgage industry. This includes the Uniform Appraisal Dataset, which details required fields for an appraisal report and new definitions, acronyms, and responses necessary to completing the revised forms. Also discussed is the Uniform Collateral Data Portal, a new method for transmitting appraisal reports.

At the end of this seminar, participants should be able to:

• Introduce participants to the Uniform Mortgage Data Program.
  
• Identify and provide illustrations concerning the key elements of the Uniform Appraisal Dataset.
  
• Explain how the Uniform Collateral Data Portal operates and the role of the appraiser in using this transmission mechanism of an appraisal report.
  
• Review the key Fannie Mae and Freddie Mac guideline requirements.