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THE CU™ CHECKP
The “CU CheckPoint” provides implementation tips
and milestone targets as you prepare to begin using Fannie Mae’s
Collateral Underwriter (CU). The CU CheckPoint will be updated
throughout the CU rollout phases to help you maximize the
efficiency of your implementation.
INT
Stay on Track with CU!
To prepare for Collateral Underwriter™ (CU™), lenders should begin taking the appropriate steps toward implementation.
CU is an appraisal risk assessment tool that will provide real-time feedback on appraisal submissions starting in January
2015, with phased access to the user interface. Refer to the timeline below, which provides key CU dates along with
information on training opportunities.
KEY:
Additional training
opportunities available in
January
Intro to CU
recorded tutorial
Oct
CU Scores
and Messages
recorded
tutorial
= Training
Vendor testing
 CU scores and message
of new UCDP
feedback in UCDP
integration
enhancements
21 proprietary messages
turn fatal in UCDP
Nov
Dec
Jan
= Technology
 Phased rollout of
CU web-based tool
(January 26 – April)
Feb
Mar
Apr
2015
2014
K EY C ONSIDERATIONS
 CU risk scores and messages will be available through the Uniform Collateral Data Portal® (UCDP®) beginning January 26, 2015.
 CU risk scores and messages will display in UCDP on the Fannie Mae tab and the Submission Summary Report (SSR), the same way Fannie
Mae proprietary messages are provided. You may also use your integration solution to transmit CU scores and messages into your systems.
 A phased roll-out of the CU web-based tool will occur from late January until April. Training will be available.
 CU web-based application does not require integration – access is obtained through a unique URL (registration required).
P REPARING FOR CU I MPLEMENTATION … What You Should Begin Doing Now
Understand and adjust UCDP
submission and review process as needed
Enhance UCDP integration to
capture CU risk scores and messages
and new fatal proprietary messages
Document appraisal
review process
 To prepare for the CU user interface
 If applicable, work with your UCDP
to appraisal review to leverage CU’s risk score, flags,
rollout, document your appraisal review
integration solution providers and
and messages in the review process.
process and establish metrics around
internal IT staff to consider display
 21 Fannie Mae Proprietary Messages will become
review times and resource utilization.
options for both your UCDP integration
fatal effective Jan. 26, 2015. These messages have a
This information will become valuable
and any integration between appraisal
very small failure rate, but will require an updated
as you leverage CU to enhance your
review tools and loan origination systems.
appraisal or manual override in UCDP. As a result,
existing process.
submission status may vary between GSEs.
 Ensure you have an effective process in place to
 Identify appropriate staff and/or
check and store UCDP success status and associated
project team to implement CU into your
TIP: Check off the steps as you complete them
messages separately for both GSE SSRs; configure
systems and processes.
along the way toward CU implementation.
your system(s) as needed.
 Appraisal submission in UCDP must take place prior
Additional considerations for lenders with a correspondent channel
 Enhance pre-funding QC processes to support new
fatals and CU scores/messages, and update
customer guidance and policies.
R ESOURCES :
Collateral Underwriter Page
on FannieMae.com
© 2014 Fannie Mae. Trademarks of Fannie Mae.
 Ensure correspondent customers
 Ensure correspondent customers clearly
understand these changes and encourage
them to implement UCDP integration with
vendors and IT staff.
participate in CU training (live or
recorded).
CU Fact Sheet
CU FAQs
HFI Spotlight Webinars
11.18.2014
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