*UCDP Integration Doesn’t Have To Be Hard*
**By Tony Garritano**
***Many are worried about the new appraisal delivery transition, but it doesn’t have to be hard. Vendors and AMCs are there to help. For example, InHouse Inc., a provider of appraisal technology for banks, lenders, credit unions and other mortgage originators, is successfully integrating lenders and appraisal management companies (AMCs) to the Uniform Collateral Data Portal (UCDP) in a matter of a few weeks, and without the long term contract required by many others.
****“InHouse is helping lenders connect and deliver appraisals electronically to the portal in record time,” asserts Jennifer Creech, president and chief executive officer of InHouse. ”We can help lenders and AMCs integrate to UCDP in about half the time it would take them to do a manual interface with the GSE website, or in two to three weeks,” Creech added.
****As part of the new GSE appraisal submission requirements, appraisals must be supplied in MISMO XML format or as a first-generation PDF. InHouse’s Connexions technology can easily convert first-generation PDFs into the MISMO format for faster submissions. In addition, Connexions validates the compliance and tracks the status of all appraisals.
****Lenders and vendors can choose between 26 providers when it comes to integrating to UCDP, though InHouse is one of only 13 providers offering access to the UCDP directly, versus through the GSE’s web-based interface, which requires a more time-consuming integration project.
****AMCs, loan origination systems and lenders seeking access to the UCDP directly may leverage InHouse’s integration and electronically submit appraisals to the GSEs. Doing so eliminates the manual upload process in the user interface. InHouse is offering a very competitive one-time integration fee of $5,000 without a long term commitment, and a per transaction fee of $2.00.
****All AMCs, appraisers and lenders on the InHouse Connexions platform are able to submit appraisals to the GSEs in accordance with the new appraisal submission standards in effect for loans originated after December 1, 2011 and delivered on or after March 19, 2012.
****Partnering with InHouse for direct access to the UCDP gives lenders and AMCs a much more efficient option, Creech said. “The integration time is reduced to two to three weeks, and it’s very cost-effective for the lender or AMC compared to packages offered by competitors. “There’s no need to code to the complicated UCDP specs. Lenders and AMCs only need to send a MISMO file through, and InHouse takes care of the rest,” she added.