A la mode launches UMDP training for lenders and AMCs.

Position:TechNewz - Uniform Mortgage Data Program
 
FREE EXCERPT

Oklahoma City--based a la mode Inc. is running a summer schedule of lender and appraisal management company (AMC) Web-based training courses in preparation for the government-sponsored enterprises' (GSEs') Uniform Mortgage Data Program (UMDP). The full schedule and course descriptions for the training courses, which are open to anyone in the industry, can be found at www.mercuryvmp.com/training.

UMDP was created jointly by the GSEs at the direction of the Federal Housing Finance Agency (FHFA). It standardizes common requirements for appraisal and loan data across the entire transaction. As part of the program, all appraisals for all conventional mortgage loans originated on or after Dec. 1, 2011, must be Uniform Appraisal Dataset-compliant (UAD-compliant) and submitted via the GSEs' new platform. In May, a la mode's Mercury Network was named a platform for GSE submission.

a la mode is the provider of a popular appraisal form-filling software, used by more than half of the nation's appraisers, according to a la mode. The appraisal software is UAD-ready, and a full 21-city appraiser training program was launched in...

To continue reading

FREE SIGN UP