UAD Compliance

As we all are well aware the mandatory submission to the UCDP for all UAD reports is effective December 1, 2011. With that being said, I would like to share with you how Springhouse will be expecting the delivery of your reports. We would like all UAD reports to be uploaded to the Springhouse portal in the MISMO XML 2.6 version (with embedded pdf) delivery method. This enables us to conduct a MARS review of the XML file to see if any hard stops/edits are present that would need to be corrected prior to submission. You will be able to review the MARS report to identify what needs to be revised in order to avoid these hard stops/edits in the future and have successful submissions.

For your benefit I have attached a list of the hard stop descriptions that we will be checking for. Attention to these descriptions prior to submission will help avoid revisions after the report is uploaded.

UAD Hard Stop Codes

HVCC Compliance

As the real estate industry evolves, so do the complications surrounding detailed methods of appraisal compliance. The Home Valuation Code of Conduct (HVCC) is the most current appraisal regulation that a financial institution must immediately address, and the need for a managing partner to stay abreast of these industry regulations is vital. Springhouse Appraisal Management was developed as a direct response to the industry's move toward independence and integrity. All actions surrounding Springhouse's Appraiser Panel, appraisal order, status check and delivery process is 100% HVCC compliant and adhere to the following entities:

• Uniform Standards of Professional Appraisal Practice USPAP
• Freddie Mac Home Value Protection Program and Cooperation Agreement
• Fannie Mae Home Value Protection Program and Cooperation Agreement
• US Department of Housing and Urban Development - FHA rules, regulations, guidelines
• Federal Home Loan Bank System (FHLBS)
• Federal Deposit Insurance Corporation (FDIC)

Springhouse holds no association, affiliation or stock with a lender, affiliate of a lender or real estate settlement services provider. Our mission is to bolster the integrity and independence of the appraisal process in order to deter any extraneous manipulation that may compromise the Public Trust inherent in the appraisal industry.

We Are Registered!

There are some states that require Appraisal Management Companies (AMCs) to register as service providers, and others who are moving in that direction but have not yet passed a bill. Without proper registration AMCs are not allowed to perform business in these states that have standing laws. Springhouse is staying on top of the regulatory action by registering in the states that require it, and monitoring the activity in states that have not yet passed the bill. No matter where you do business, Springhouse is abreast of the pertinent regulations. For a list of the states Springhouse is registered in (that require registration), see the list below:

• Arkansas
• California
• Connecticut
• Georgia
• Minnesota
• New Mexico
• Utah
• Vermont