What You Need to Know: Collateral Underwriter Vendor Access
By: Donna Gibson, COO and President of QC Ally
As you know, Fannie Mae’s Collateral Underwriter® (CU) web tool uses appraisal data to analyze, research, and identify appraisals with overvaluation, undervaluation, appraisal quality, or property eligibility/policy compliance risks. CU is part of your underwriting and quality control review process today.
Now, the same tool is available to vendors like QC Ally. We have already begun to use CU as a tool during our collateral assessment loan audit review. We will continue to use all information from the appraisal, CU, and other resources to determine if the value and/or information on the appraisal is correct.
Will you see more issues coming back your way because of our access to CU?
No. In fact, as noted above, CU is just one tool that we use to determine if the information provided by the appraiser is correct and that value is supported.
Will the use of CU increase your QC audit turn times?
No. You will not see an increase in turn times and will continue to receive the same great turn times and quality of service you’ve come to expect from QC Ally.
It is critical as a QC vendor that we embrace the technology available and incorporate the use of such technology into our reviews as a tool only. Competent, quality reviewers are still, and always will be, a required part of our quality control process.
Contact us to learn more today: