UAD address requirements

[PhiloFarnsworth]

In the past I have received appraisal orders where the address was slightly off, usually because of recent renumbering or renaming by a developer. When I get the order, I usually check with the client or AMC. They typically ask that I identify the subject as it is found in public records and put in an explanation as to the discrepancy. Some ask that i send a screen cap of the public data and then correct the engagement letter.
In any case, after having such an order where it was ordered as a "circle" but road signs, public data and MLS info indicated it was on a "path". Following the typical procedure for this client, I identified the subject according to the correct name and added a short explanation. I got a request from the bank to change the address to how it was ordered. When I called to point out the comment, the reviewer told me that UAD requirements were that all addresses be compliant with what the USPS determines is the correct address.
As UAD is supposedly a change in reporting format requirements only, I was wondering if they were misinterpreting the requirements. As I read them, they say the address must follow the format specified in USPS rule 28. A check of the USPS website showed this to be a format requirement only, correct form of state abbreviation, etc. There was nothing about an official USPS address database. So I called the post office. While they had the ability to look up an address and it, indeed was given as a "circle", they said that they do not determine these addresses; they are supplied by local governments.
So where did this supposedly "official" USPS address come from? Apparently there is no such thing. And could any of these supposed requirements conflict with USPAP?

 

[residentialguy]

You are to put the actual physical address in a format to meet USPS adress standards....in other word Avenue would be Ave Circle would be "Cir"

The updated UAD Field-Specific Standardization Requirements (Document Version 1.3, updated April 10, 2012) states: "The appraiser must enter the physical property address in a format that conforms to the United States Postal Service (USPS) address standards in Publication 28 – Postal Addressing Standards (pub28) for complete addresses. Address standards can be found at USPS.gov. The subject address must be populated consistently throughout the form."


https://www.efanniemae.com/sf/lqi/umdp/pdf/uadappendixdfieldreqs.pdf

in other words, if the actual address says path, conrfirm by the county and the USPS says Drive....you state Path.

 

[ctapraser]

You are to put the actual physical address in a format to meet USPS adress standards....in other word Avenue would be Ave Circle would be "Cir"

The updated UAD Field-Specific Standardization Requirements (Document Version 1.3, updated April 10, 2012) states: "The appraiser must enter the physical property address in a format that conforms to the United States Postal Service (USPS) address standards in Publication 28 – Postal Addressing Standards (pub28) for complete addresses. Address standards can be found at USPS.gov. The subject address must be populated consistently throughout the form."


[url]https://www.efanniemae.com/sf/lqi/umdp/pdf/uadappendixdfieldreqs.pdf[/URL]

in other words, if the actual address says path, conrfirm by the county and the USPS says Drive....you state Path.

Sorry but no, If you do it this way when the lender runs your report through the UCDP portal it will fail. Not only do you need to match the abv. of the USPS but you also MUST match the address exactly as USPS has it. So in other words, if the actual address is Path but the USPS has Drive you MUST use Drive... (Dr.)

 

[residentialguy]

Sorry but no, If you do it this way when the lender runs your report through the UCDP portal it will fail. Not only do you need to match the abv. of the USPS but you also MUST match the address exactly as USPS has it. So in other words, if the actual address is Path but the USPS has Drive you MUST use Drive... (Dr.)

Sorry, but that's not our problem. They can override that and they will push it through. We have requirements (UAD Field-Specific Standardization Requirements ) that we are to follow, which state: "The appraiser must enter the physical property address in a format that conforms to the United States Postal Service

In fact, the orig UAD specs were updated to say "physical property address" from "an address" because people were using the postal address and not the actual physical address.


If they want us to do it another way, they'll have to change the instructions!!!

"This document (UAD Field-Specific Standardization Requirements) provides field-specific standardization requirements for completing the GSEs’ residential appraisal report forms ...It lists the requirements for the data that must be included in specific fields and how the data should be formatted.

...and what are does that specific requirement about how to do the address say again? Oh yeah, "The appraiser must enter the physical property address in a format that conforms to the United States Postal Service "



.

 

[sandpiperapp]

Sorry, but that's not our problem. They can override that and they will push it through. We have requirements (UAD Field-Specific Standardization Requirements ) that we are to follow, which state: "The appraiser must enter the physical property address in a format that conforms to the United States Postal Service

In fact, the orig UAD specs were updated to say "physical property address" from "an address" because people were using the postal address and not the actual physical address.


If they want us to do it another way, they'll have to change the instructions!!!

"This document (UAD Field-Specific Standardization Requirements) provides field-specific standardization requirements for completing the GSEs’ residential appraisal report forms ...It lists the requirements for the data that must be included in specific fields and how the data should be formatted.

...and what are does that specific requirement about how to do the address say again? Oh yeah, "The appraiser must enter the physical property address in a format that conforms to the United States Postal Service "



.

Agreed. In this case it is more important to be accurate than compliant.

 

[residentialguy]

In this case it is more important to be accurate than compliant.

Agreed. But who's not being compliant. Accurate (stating the actual physical address) is being compliant to the ones giving the UAD instructions to which the lender is using. The lender/UW is the one not being compliant.

 

[pawwly2]

In the automated everything fits into a neat box lending world we live thats what addendums are for....insane that you would have to inform the reader the true address of the collateral verified by the pizza delivery guy , county records & physical inspection is X , per UAD requirements and (inaccurate) postal records address is Y as noted on page#1 of report. Can they over ride a UCDP fail..sure , are they interested no...that would take time..its the post offices typo , they verified it against the USPS source..it must be so not like its collateral against a loan or something...production , production , production.

 

[residentialguy]

Probably close to 50% of my reports have physical addresses that are different than the USPS address. You state the physical address in the form and explain. Not once have I had issue. All about splaining.

eg

SUBJECT CITY
The subject is physically located in Minneola Township (Twp). The updated UAD Field-Specific Standardization Requirements (Document Version 1.3, updated April 10, 2012) states: "The appraiser must enter the physical property address in a formatthat conforms to the United States Postal Service (USPS) address standards in Publication 28 – Postal Addressing Standards (pub28) for complete addresses. Address standards can be found at USPS.gov. The subject address must be populated consistently throughout the form." The actual USPS city name for this zip code is "Wanamingo" - however this is the postal city and the subject is not physically located in Wanamingo, rather it is physically located 2 miles NE of Wanamingo City limits in "Minneola Township" to which the UAD specifically states that the physical property address is to be used in the report. This has no adverse affect on value. The physical address in correct format of USPS standards and is populated consistently throughout the form, thus is in compliance to the stated UAD requirements.

Th.th.th..that's all, folks!

 

[sandpiperapp]

Agreed. But who's not being compliant. Accurate (stating the actual physical address) is being compliant to the ones giving the UAD instructions to which the lender is using. The lender/UW is the one not being compliant.

Don't forget ctapraser for trying to appease the underwriter

 

[pawwly2]

UCDP & cyber-net are pleased with your response , by chance have you seen John Connor?