Collateral Underwriter (CU)

[Michigander]

How long is Freddie's :List??

And you do know that Google Earth photos are not very current, right?

Google has dates on their images, and highways don't pick up and move very often...

 

[djd09]

review process
appraisal review
CU is effectively predictive of appraisal defects
any of the 20 comparables that are provided by CU for most appraisals
risk analysis performed by CU
carefully review the appraisal report
after completing a thorough review
CU generates up to 20 alternative comparables
reviewing an appraisal report
comparables are analyzed by CU and ranked against a pool of available sales based on physical characteristics, location, and sale date.
To help lenders more effectively and efficiently identify issues with appraisals
CU provides a numerical risk score from 1.0 to 5.
unscored appraisals
CU analyzes appraisals
are not analyzed:
Appraiser-provided comparables are ranked against a pool of alternative sales identified by the model based on a combination of physical features, location, and date of sale.
Location, date of sale, and physical features such as square footage, lot size, bathrooms, quality, view, etc. are also considered
CU compares the appraiser-provided comps against a pool of observed sales transactions in the subject market and not against arbitrary, “rule of thumb” guidelines.
comprehensive analysis of data integrity, comparable selection, adjustments, and reconciliation.
they simply highlight aspects of the appraisal that may require further attention.
CU analyzes the revised appraisal
Lenders that deliver loans to Fannie Mae are responsible for reviewing appraisals
No, appraisers do not have access to CU. CU was developed as an appraisal review tool for internal analysis
CU will review an appraisal only after it is submitted to UCDP which, then triggers the model that includes appraisal data to perform an analysis.
Will the use of CU as an appraisal review tool by Fannie Mae lenders
CU’s analysis
https://www.fanniemae.com/content/FAQ/collateral-underwriter-faqs.pdf

But it is not a review

No quoting that one. huh Tres?

"Appraiser-provided comparables are ranked against a pool of alternative sales identified by the model based on a combination of physical features, location, and date of sale."

This line interests me. Since the government likes doing things in reverse, maybe the search criteria is 1.) date of sale. 2.) location. 3.) square footage.

 

[CANative]

. Since the government

Everything is about the government with some people.

 

[djd09]

Ain't that the truth. Are you gonna post something relevant to this thread or are you just call me more names. I love it when you talk dirty to me.

 

[residentialguy]

Everything is about the government with some people.

CAN's a Govt agent. So am I, but that's no surprise...my outfit gives me away.

 

[djd09]

last three appraisals maybe too complex for the borg

1. on a river no similar sales
2. condo in semi rural area limited sales
3. house built in 1880 with 1,800 sq ft barn no similar sales

i will just accept that 4.9 grade will be the normal grade for djd appraisals

 

[normando]

CUs give me ratings from 1.5 to 4. When I get a 4 which is bad, I use to worry there was something wrong with my report. How could my ratings and adjustments be so different from my peers? CU allows me to see how my peers are doing and I see they view comps differently. I don't worry about it anymore because I know I'm right.

 

[TRESinc]

CU allows me to see how my peers are doing and I see they view comps differently.

i have never seen anything that others do, only that mine are different from "peer or model" adjustments. can you post up what you are receiving?

 

[normando]

It states something like your condition adjustment is higher or lower from other appraisers. Or I have an location adjustment whereas other appraisers do not.

 

[J Grant]

I get the same kind of thing a few times a month. Exasperating.