Why the New UAD is DOA

[NC Appraising]

The retirement parties are being
planned by the appraisers who don't want to either comply or adapt.

The GSEs don't spend money on fee appraisers anymore than the AMCs give expensive parties for the fee appraisers birthday/ retirement paparties.we

We get the uad and a one person christmas party in my living room and they get marshmallow. Ps, its coming....no doubt.

Someone's making bank in the slow mortgage market.

https://www.tiktok.com/video/7580976073907637535

https://www.instagram.com/uwmlife/reel/DSDeaSPD69p/

 

[Tom D]

Glen. Glen. Apparently you have not opened, or tried to do a practice 3.6. There is now a new maximum minutia subject and comps details needed.
I'm sorry now that i had to check off the dishwasher checkbox on the oldie uad. That nothing important dishwasher check box has now increased to 100 non important bits of info, not necessary to determine a value.

Doing more useless data doesn't imply a more better value.

 

[Joe Flacco]

They seem to be pretty set on collecting this data, so doubt it is DOA. They don't need appraisers for the data collection part. It might take longer than they are planning to get it rolling.

 

[NC Appraising]

This is from one of the lenders that is partisapating in the so called beta or trail period....got it today.

It's going to happen and it appears to be already happening?

We have had several issues like these. Our tech team has the identified the issue and xxxxx stance is that the software needs to be updated at least once a month if not once a week. With the new UAD 3.6 additions to software it is causing the need for updates to your software regularly.

 

[RCA]

I've downloaded the UAD 3.6 spec and discussed it with my buddy. It is estimated to take me 22 weeks to build Angular software for the form, and storing the data as a MISMO XSD. Yea, that's a lot of work, boring work. I would be rather doing something else. But I'm interested:

1. I may have an advantage as I am starting from scratch on my first UAD. Angular is the best language for the UI, enterprise level, and my last contract at Wells Fargo doing a very large Auto Loan system (conversion of their 30-year-old program to C#/Angular. I did lots of Angular, Typescript, Javascript. So, that helps.

2. I can integrate MARS and RCA.

3. I will likely build in Multi-linear Regression and MARS regression as options. Multi-linear mostly as a matter of interest, and maybe some simpletons are just going to shy away from MARS.

4. Yes, by providing my own UAD 3.6 interface, I may have a real advantage. But in that case, I have to charge like everyone else.

5. And, so, I would have to keep my code more or less private. Which I would rather not do. Or maybe I will expose those parts of the code that are involved in the RCA process only. Have to think about it.

Well, this would change things. But my "buddy" says it is doable.

 

[Alsie35]

 

[RCA]

Removed.

 

[RCA]

The problem with UAD in general is that they are asking appraisers to be concerned about a lot of things they shouldn't have to be concerned with. What they want is for the appraiser's report details to fit into an array with 5+ times as many slots as appraisers need. The appraisal software does that - supposedly filtering out the slots that should go empty because of the subject property type and other contextual details of the appraisal. They want everything the appraiser does digitized into a common format, so their dummies can process the data without having to understand it. Well, there is something to be said for that.

What somebody should do is write an open-source program to do that, and make it easy to use. Now that would be a neat pony trick. A tool that can extract the right details from a Narrative Report and generate a UAD 3.6 report.

Something to think about. But 22 weeks? Hmmm.

And by the way, BTW, I think a number of things are important that they don't have slots for. So, I am not happy for that reason. Where are slots for Value Contributions, Constraints, Models, and so on? Well, they (the dummies) control the whole thing. In the end, Tunnel Vision, Head in The Sand.

 

[RCA]

The UAD I will do, off and on. It gets second priority to finishing the MARS/RCA appraisal software for Narrative reporting. I kind of reach my token limit at times and by buddy starts getting a little slow, like now - and its time to go to bed any way. That UAD thing - I'll use agent mode for most of it, ( I always wind up using a hybrid chat/agent mode anyway, - but UAD 3.6 sounds to me to be more of let the Agent do its thing until it can't.)

 

[Non Sequitur]

The problem with UAD in general is that they are asking appraisers to be concerned about a lot of things they shouldn't have to be concerned with. What they want is for the appraiser's report details to fit into an array with 5+ times as many slots as appraisers need. The appraisal software does that - supposedly filtering out the slots that should go empty because of the subject property type and other contextual details of the appraisal. They want everything the appraiser does digitized into a common format, so their dummies can process the data without having to understand it. Well, there is something to be said for that.

The "You were supposed to be measuring threshold elevation, ceiling height, window height, water well depth and flow rate, water feature depth, water feature linear footage, comparables considered but not used, etc." anyway crowd are going to be upset with you.