Got XML?

• Property Condition Assessments (PCAs)
• Environmental Site Assessments (Phase I, Phase II)
• Seismic Risk Assessments
• Zoning Reports

No. Lenders using CLOSER and Fannie Mae will be requiring a supplemental data deliverable (the XML file) in addition to these reports. Note that the Fannie PCA will continue to require a complete 4099 form as well.

XML is a file format that was designed to store, transport, and arrange data – but not to display it. It is often used when data sets require a more restrictive set of rules to drive consistent values.

Depending on how you write reports, there are two primary ways. If you write reports with:

1. A Report-Writing Platform like Quire: You can use an integrated form that works seamlessly inside any Quire report. This form can be auto-populated and will generate the XML with one click. Learn more.
2. Microsoft Word: For Fannie Mae, you can manually enter the necessary report data into the associated Excel spreadsheets that they provide and convert that sheet into a CSV file (this is an acceptable file type for Fannie Mae). Closer does not provide an Excel alternative, but you can use their published XML schema to validate and convert your data manually.

Yes. The amount of time will depend on what software you are using. Quire estimates that it will take Users of their platform about three to five additional minutes per report. Vendors using Word and Excel have stated that depending on the report type, it takes roughly between 20 to 90 additional minutes per report.

Fannie Mae has conveyed their requirement will commence mid-2020. Note that some Lenders may request samples of the XML from their third-party vendors before this in order to ensure seamless adoption and/or identify any vendors who are not able to provide this requirement.

CLOSER XML is actively being requested by their current Lender clients.