CoreLogic (CLGX: 16.90 +0.24%) added technology provider a la mode as an appraisal administrator to achieve compliance with the government-sponsored enterprise's Uniform Mortgage Data Program.
CoreLogic uses its ValuEdge platform to connect to a la mode's Mercury Network, a nationwide list of appraisers and vendors, and generates every appraisal in both PDF and XML formats. Under the UMDP, all appraisals must be submitted via XML format.
"This relationship gives our clients a huge advantage with accurate, expert collateral valuations that are in compliance with the evolving regulations and GSE requirements," said Wes McDaniel, chief appraiser for CoreLogic Valuation Services.
Jennifer Miller, executive vice president of products for a la mode agreed.
"CoreLogic has a progressive approach to quality assurance and data compliance that serves their clients very well," Miller said.
In early May, Fannie Mae and Freddie Mac instated Oklahoma City-based a la mode as an appraisal submission platform for the UMDP and the Uniform Collateral Data Portal.
Veros Real Estate Solutions is the only technology provider of these services, but companies can connect to these platforms through a la mode.