The Uniform Property Dataset (UPD) is a unified data standard for GSE inspection-based appraisal waiver programs — Fannie Mae’s Value Acceptance + Property Data and Freddie Mac’s ACE+ PDR. These two programs now share a property data collection standard. This means that lenders can submit to either program using the same property data collection. And, underwriters no longer have to remember the data standards for two separate programs.

During the property data collection process, data collectors are required to identify and photograph all structures and rooms on a property — documenting any upgrades, damages, additions, conversions, and site features on a property. Data collectors will also take note of all building materials and utilities present and use a tool like CubiCasa to generate an ANSI-aligned floor plan that includes gross living area (GLA) calculations. 

Once the property data collection is finished and the collector has gathered all the necessary information, the data is submitted to the GSE and delivered to the lender.

Using inspection-based appraisal waivers saves lenders time and money — savings that can be passed on to consumers. When using Clear Capital’s Universal Data Collection™ (UDC™) for the property data collection, lenders will spend less than half of what they would spend on a traditional appraisal and enjoy turn times as short as three days.