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Fannie Mae's National Underwriting Center (NUC) relaxes requirement to submit appraisal reports in AI Ready format

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Views: 14350
Votes: 1
Comments: 6
Posted: 25 Jun, 2008
by: Admin A.
Updated: 29 Jul, 2015
by: Admin A.

Fannie Mae's National Underwriting Center (NUC) has discovered limitations in delivering the "level of documentation that the NUC requires":

"Dear Valued Fannie Mae Appraiser,

You are receiving this notice because you have in the past, or are currently completing appraisal work for the National Underwriting Center (NUC) at Fannie Mae.

Since relocating our appraisal ordering process to AppraisalPort in April, we have discovered limitations within various appraisal software providers using the AI Ready format when trying to send the level of documentation that the NUC requires. As a result of these limitations, the NUC is relaxing the requirement to submit the completed orders in AI Ready format.

Starting immediately, you may send the completed reports as either a PDF or an AI Ready document to NUC.

This notice pertains to those appraisers who are completing work for the NUC. IMPORTANT NOTE: The NPDC/REO Department requires all reports to be delivered in the AI Ready format.

Fannie Mae, Dallas, TX"

As stated above, The NPDC/REO Department requires all reports to be delivered in the AI Ready format.

Please visit AppraisalPort and AI Ready for more information.

For a complete tutorial on how to use Appraisal Port, please click here.

Also, beware of AppraisalPort extracting your data. Read full story.

AppraisalPort / FNC - Class Action Suit Seeks $5 Million in Damages

Attached files
file FNMA_NUC_AIReady.png (59 kb)

Showing: 1-6 of 6  
Comments

09 Sep, 2008   |   Steven Somerville
I applied weeks ago and have heard nothing. Is everything in order?

Answer:
---------

We are not processing these applications nor should you email us the required documents. Completed documents should be emailed to Tina Wright. Please do not contact her regarding status and contact her only if you have questions regarding the forms. She has no control over who will or will not be chosen. If you/your company is approved or declined you will received a notice. We are not aware of the process time and assume that it will all depend on the background check and the number of applications being processed.

Directory Team


28 Jun, 2008   |   Michelle Torello
Could you please tell me what AI format is?

Answer:
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Please visit url=https://www.aiready.com/app/app_ready.asphttps://www.aiready.com/app/app_ready.asp/url for more information on AI ready.

Directory Team


27 Jun, 2008   |  Perry Gagon
Do I have to activate an account with AppraisalPort to link NUC as a client? If so, how do I get an activiation number from Fannie Mae?

Answer:
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If you have been accepted as a vendor by Fannie Mae, then you should have received this information from Fannie Mae. If you are not a vendor for Fannie Mae, you should first apply to become one. See post url=http://www.e-appraisersdirectory.com/kb/entry/36/http://www.e-appraisersdirectory.com/kb/entry/36//url for more information.

Directory Team


26 Jun, 2008   |   Isaac Landau
Is there a fax number that we are able to fax in the forms to become an approved vendor with Fannie Mae.

Answer:
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We were only given Tina Wright's email address. We do not have any other contact information. Please do not contact Tina L. Wright regarding status and contact her only if you have questions regarding the application form for REO work. She has no control over who will or will not be chosen.

Directory Team


26 Jun, 2008   |   Carrie Woods
When sending reports AI Ready through Appraisal Port, only nine extra photos are allowed. Many times, with extensive damage to REO properties, more photos are required. Please advise. Thank you.

Answer:
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You should discuss this issue with the NPDC/REO department and AppraisalPort. We are not affiliated with either Fannie Mae or AppraisalPort. This post is to let our appraiser members know of REO appraisal work opportunity with Fannie Mae.

Directory Team


26 Jun, 2008   |   Staci
Is PDF format acceptable for submitting forms to Fannie Mae? If not, were is the AI Ready format available for download?

Thank you

Answer:
---------

As stated in this post, you can send completed reports in PDF or an AI Ready document to NUC.

The National Property Disposition Center (NPDC) manages Fannie Mae's real estate owned (REO) properties. The NPDC/REO department requires all reports to be delivered in the AI Ready format.

In short, if you are completing REO work, reports should be AI Ready.

Directory Team


Also read
document The Fannie Mae Valuation Department is trying to recruit new appraisers that would like to do REO (foreclosure) work.




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