Valuation Provider Gears up to Deliver Appraisal Data to Fannie
Valuation services provider PCV Murcor Real Estate Services is now fully integrated into the system that delivers appraisal data directly to government-sponsored enterprise (GSE) Fannie Mae (FNM). PCV Murcor is integrated with risk management software developer Veros Real Estate Solutions as part of the GSE's Collateral Data Delivery (CDD) initiative, according to a company announcement. “One of our top clients was chosen by Fannie Mae to be an early adopter of this technology and asked us to partner with them in being an early adopter of this technology as well,” said PCV Murcor chief information officer Russell Lewis, in a press statement this week. Lewis added: “This technology will allow our clients to send appraisals directly to Fannie Mae leveraging our integration with Veros. We actually have vendors that have been delivering the appraisal data elements to us for several months now in anticipation of our ability to deliver the data to the new CDD system.” Beginning July 1, 2010, Fannie Mae will require all of its lenders to submit appraisals in a data format prior to the delivery of the loan package, according to the PCV Murcor announcement. The GSE selected Veros late last year to be the sole technology provider for the CDD project with the responsibility for building, maintaining and supporting the CDD system. Write to Diana Golobay. Disclosure: the author holds no relevant investment positions.