UAD 3.6

[Surf Cat]

They are getting nervous out there. Got this survey from an AMC this AM. Read the questions carefully. Not sure I will answer it at this point.

Do you think they are getting worried yet about the likely unintended consequences of converting to UAD 3.6?

Things like Pandemic-like turnaround times, appraisers' work capacity cut in half and demand for significantly higher fees to accept the work? Methinks the AMCs and lenders might be squealing like stuck pigs to Fannie to push the dates out - we will see.

I would like to ask any of our resident Fannie Reps: Have you guys seriously considered the "unintended consequences" of the impending UAD 3.6 rollout? Like gravity, the Law of Unintended Consequences is a natural law - and it hits each and every single time you make a big change like this. And its rarely accounted for in early planning, in my experience, because early planning is always way too optimistic - especially when its being rolled out by a bureaucracy. Just FYI. Trying to be helpful.

Perhaps extending the deadlines, or the "dual form testing period" is preferable to risking "crashing the system".

View attachment 99718

#6 Yes.....Lol

 

[J Grant]

I bet lenders are not happy about it either - an extra burden reading the reports and it will not help them get more business -

Appraisers would do well to respond they will charge more - the outset is the best time to do it - the forms will add tremendous time to each inspection and chasing down the additional information.

 

[cpursley]

that will all be done via image recognition technology. As will floor coverings, condition ratings, quality ratings, countertop materials, etc. The technology exists today to upload a random pic and have the software label it as 'kitchen', living room', etc.

The latest vision models are really really good at classifying what images are (scary good). Combined with lidar for measuring and indoor mapping is going to the be future of inspection apps. Ditto on voice dictation - so you just walk around with camera and lidar on and describe what you're seeing and the AI organizes it all and maps it out. I think if implemented right, it could be really great.

 

[Dublin ohio]

I am really not really very concerned about the new UAD and forms. I am more concerned with the functionality of the software> As with any new software of any kind, there will be a leaning curve. Nothing new, I have been adapting to technology all of my life, starting with the abacus

 

[Alsie35]

This is to frustrate the old appraisers who actually follow rules and the plan is to wear you out physically and emotionally to where you can't make a living.

This is where the PDC inspections will slowly take over and force more to go broke or quit or retire. There's a sadistic plan in place and don't ever believe the GSEs haven't beta tested these on real live human Guinea Piggs to see how long it takes to push them off a cliff. Lol

This may wind up being an unintended consequence, but I doubt there is any animus against us involved.

We are mere peons with no say in anything Fannie. I doubt they get spun up about us. They don't care one way or the other. They're gonna do what they're gonna do.

 

[Alsie35]

I am really not really very concerned about the new UAD and forms. I am more concerned with the functionality of the software> As with any new software of any kind, there will be a leaning curve. Nothing new, I have been adapting to technology all of my life, starting with the abacus

From your mouth .... as the saying goes ...

 

[Non Sequitur]

Does a full review mean a pause during the review?

 

[glenn walker]

I just saw a preview of Fannie's next update announcement:

We are proud to announce the rollout of UAD3.6, the most amazing tome of pages since the Bible! Almost as long as the Old Testament, we anticipate it will revolutionize appraising.
To increase security, every appraiser is expected to learn Latin as the language that Fannie and Freddie expect on the forms. Once it hits our UC review, our AI-powered assistant will translate the report into English. We promise to only deduct 30% of your appraisal fee for this value-added service. .

After years of beta testing, we are confident that the new form is so frustrating to deal with that it is guaranteed to give PTSD to any appraiser brave enough to try it.
To further enhance the valuation experience, Fannie has a doll and Freddie has a doll. They are the Barbie and Ken of the GSEs, complete with their own model house, which we use to train an army of PDC collectors lined up to replace you

We value your feedback. Please submit your comments, which will get immediately shredded and flushed.
.

I bet lenders are not happy about it either - an extra burden reading the reports and it will not help them get more business -

Appraisers would do well to respond they will charge more - the outset is the best time to do it - the forms will add tremendous time to each inspection and chasing down the additional information.

Lol

 

[Elliott]