Our software vendor has been working closely with the GSEs and has implemented a direct interface to the portal. All clients that have established a relationship with Valuation Management Group, LLC as a Lender Agent with access to Fannie Mae and/or Freddie Mac Seller/Non-Seller numbers will have all GSE required appraisals uploaded to the portal. When your completed appraisal report/package is emailed, you will now receive an SSR, Submission Summary Report, from the GSEs.

This document will provide the date and Doc file ID for your records. This information will also be available on the website in files available for download, as well as notated on the order page. Clients that have not registered with VMG will receive an XML file, in addition to the PDF file, once completed to enable clients to submit on their own.

NOTE: The loan number is a GSE requirement and must be unique, begin with numeric characters and have no more than the maximum of 15 characters; it must be included when ordering. When using this field for other information, please make sure it meets the requirements for UCDP submission. This requirement does not apply if VMG is not submitting on your behalf.

Lender Admins, please be sure you have registered with the GSEs and selected Valuation Management Group as your Lender Agent or we will not be able to submit on your behalf. If you have not registered, we recommend completing the GSE registration process today for either or both GSEs. Registration instructions can be found at and All lenders must be registered with seller/non-seller numbers. Correspondent Bank registration can be found by clicking here and the UCDP hotline number is 1 (800) 917-9291.

Appraisal reports received from appraisers for the following UAD/non-UAD report types must be provided in MISMO 2.6 XML format to comply with GSE requirement:

  • Uniform Residential Appraisal Report (Fannie Mae Form 1004)
  • Manufactured Home Appraisal Report (Fannie Mae Form 1004C)
  • Small Residential Income Property Appraisal Report (Fannie Mae Form 1025)
  • Individual Condominium Unit Appraisal Report (Fannie Mae Form 1073)
  • Exterior-Only Inspection Individual Condominium Unit Appraisal Report (Fannie Mae Form 1075)
  • Exterior-Only Inspection Residential Appraisal Report (Fannie Mae Form 2055)
  • Individual Cooperative Interest Appraisal Report (Fannie Mae Form 2090)
  • Exterior-Only Inspection Individual Cooperative Interest Appraisal Report (Fannie Mae Form 2095)

Please click here for UAD FAQ’s.

Please click here for Fannie Mae’s Appendix D.

Understanding Collateral Underwriter (CU)

The week of December 15, 2014, Valuation Management Group started seeing the Collateral Underwriter (CU) risk flags and specific warnings. Fannie Mae stated that CU would be in place beginning January 26, 2015, but for some clients it started this week, as part of a pilot group.

It is very important for appraisers to understand how the appraisal and review process is changing.

Fannie Mae is providing information to help everyone understand Collateral Underwriter. Here are some resources to assist you:

Are you ready for Collateral Underwriter™ (CU™)? View the recently posted training Understanding CU’s Risk Score, Flags and Messages, the updated FAQs, and other resources on the CU page.

Go to (on demand e-learning section) and listen to Fannie’s two webinars for underwriters; very good with excellent illustrations and explanations. You need to register, but it is very easy and you go directly to the webinar and can return at any time. There are lots of links on the web page for more information. Appraisers gaining an understanding of the process will reduce questions and reconsiderations.

VMG’S observation thus far is that appraisers must comment on sales in close proximity to the subject if they are not being utilized as comparables. It is important to address those sales in the original report with sound reasoning on why the appraiser does not consider them to be comparable. If the appraiser is proactive in their explanation, it will keep them from having to address the sales after the report is complete and in review.

VMG will continue to monitor these compliance issues and provide updates through this site, emails and monthly e-newsletters. If you have any questions, please do not hesitate to contact us.

Valuation Management Group provided appraisers with resources regarding Fannie Mae’s Collateral Underwriter last month. Webinar and related links can be found here.
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