Got XML?

This has become a recurring refrain in the commercial real estate due diligence market.

If your company has been asked to provide an “XML deliverable” by your Lender Clients, you’ve come to the right place. Quire has answers to common questions around these XML requests as well as an innovative solution Quire Users can implement in minutes!

Quire provides XML solutions for the upcoming Fannie Mae Data Standardization and the CLOSER platform requirements.

What you need to Know

Our innovative report writing software supports your team’s goals to consistently win it on the job, in the field, and in your industry.
  • 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.

The Quire Solution

Quire Users will have access to our fully integrated and customizable solution that generates the required XML files quickly and limits duplicative data entry.

Use your existing Templates

Easily add the XML capability to any existing Report or Template – there is no need to create any new Templates.

Quickly review all data points and export valid XML

A new page is added to the Report for reviewing and editing all fields needed to generate a valid XML data export.

Collect data with the Report Tags you’re already using

Quire allows customizable mapping between XML fields and Company Report Tags for less duplicitive data entry.

Generate the XML file at any time

One-click XML file generation completes in seconds. Quire’s proprietary validation tool flags entries that fail standardization rules for passing XML- everytime. 

Results Schema

The following summarizes the four XML data schema mandates from Fannie Mae and the five Closer LOS updates, as well as their availability date in the Quire platform:

Institution/Company Report Type Availability
Fannie Mae PCA (Engineering) Available Now
Fannie Mae ESA (Phase I & II) Available Now
Fannie Mae Seismic Available Now
Fannie Mae Zoning Available Now
Closer PCA (Engineering) Available Now
Closer Fannie PCA Available Now
Closer Freddie PCA Available Now
Closer Phase I ESA Available Now
Closer Seismic Available Now

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