Uad Data Source Format For Comparables

[Joe Flacco]

I came across a couple reports recently with incorrect formatting for the data source.

Anybody know how CU compares data of the properties in the report with the database when the formatting is incorrect? I am thinking the whole CU system is tied in to the MLS number. What does CU do when the data source is not correctly inputted? Seems to me like a possible loophole in CU. Anybody know?

 

[Joe Flacco]

How does CU handle a MLS number in the report that is not recognizable?

 

[Mr Rex]

i would think MLS# is secondary to the comparables address. Not all properties are offered through a MLS system. FSBO etc

 

[Joe Flacco]

Yeah but the address can trade twice in a year or multiple times over time. So I am thinking it is the MLS number that is cross checked with the database rather than the address. A unique or incorrectly formatted MLS number in the forms might not be getting compared to the database.

 

[Mr Rex]

So MLS# is more important than address and date of sale? I don't really know what you are getting at, but I suspect all the fields are checked with the database, thus the letters re: substantially different data than other appraisers etc.

 

[jay trotta]

Yeah but the address can trade twice in a year or multiple times over time. So I am thinking it is the MLS number that is cross checked with the database rather than the address. A unique or incorrectly formatted MLS number in the forms might not be getting compared to the database.

Did you mean "correct data base" ?? Be that as it may, all this mumbo jumbo is actually "Laziness" on the part of the "Reader of the Report" and generally disqualifies the "so-called" Reviewer, most of the Q&A I have received lately appears to be exactly that, as they fail to support anything, including their made up names from Uganda.

 

[Joe Flacco]

You are probably right. I am just thinking MLS number is the one piece of data that is unique to the transaction. I was just thinking that a appraiser using incorrect formatting for the MLS number is probably doing it all the time without any issues. I was curious if they are exploiting a loophole or if they just didn't know the formatting is incorrect. The data source formatting is a requirement and not a instruction.

 

[Joe Flacco]

I am thinking the CU would read the incorrectly formatted MLS number in the report and then put it in the database as it's own transaction.

 

[timd354]

I am thinking the CU would read the incorrectly formatted MLS number in the report and then put it in the database as it's own transaction.

I don't believe CU does anything with the MLS number. I think that it uses the address as a primary identifier and also geocodes the property based on the address

 

[residentialguy]

And the address is not the postal address, it's the actual physical address...however they may be one in the same.