Global DMS Electronic Delivery of Appraisal Reports Required in July for Fannie Mae

Fannie Mae's Collateral Data Delivery (CDD) effective on a date to be announced, but no earlier than July 1, 2010, for each loan delivered to Fannie Mae, sellers or their designees (Appraisal Management Companies) must submit electronic appraisal data in an acceptable XML format at least 24 hours prior to delivery of the loan to Fannie Mae.  Fannie Mae’s Collateral Data Delivery guidelines require all appraisal information to be delivered as electronic data. Other secondary market participants, such as the FHA, Freddie Mac, and private markets, are expected to follow suit.

Global DMS Web Services automates the delivery process to Fannie Mae by allowing lenders and their agents (AMCs) to incorporate Collateral Data Delivery (CDD) into their current infrastructure.

• MARS can automatically extract data from PDF appraisal reports and reassemble them into the correct version of MISMO XML for delivery to Fannie Mae
• MARS review ensures compliance with the Fannie Mae’s CDD guidelines by running rules against the report prior to submission
• Leverage OasisOne platform, eTrac Enterprise Edition platform or Global DMS Web Services to interface directly with Fannie Mae’s CDD system, which eliminates the need to manually upload to the Fannie Mae portal

Learn more about Fannie Mae CDD
https://www.efanniemae.com/sf/technology/commitloandel/cdd/