UAD 3.6 Means More Waivers

[djd09]

Lowering Appraisal Costs: What LOs Should Know

Recently I received a note “LO VieauxPoint” from Brian Vieaux, President, MISMO, addressing the topic of appraisal waivers, faster turn times, and less risk.

“UAD 3.6 should already be on your agenda. Do you want more appraisal waivers? Do you want appraisals completed faster, with better accuracy and quality? Do you want less liability and risk tied to appraisal data flowing through your organization? It’s hard to imagine anyone in mortgage answering “no” to any of those questions.

“On November 14, 2025, the first UAD 3.6 appraisal was successfully submitted through the Uniform Collateral Data Portal. The appraisal was completed using SFREP’s Appraise-It Pro software, delivered through AIMSdashboard, and accepted by the lender, North State Bank. No issues. No disruption. Just a real appraisal moving through modernized rails.

“UAD 3.6 is no longer theoretical. It’s operational and is part of the broader Uniform Mortgage Data Program (UMDP), overseen by the Federal Housing Finance Agency (FHFA) and jointly implemented by Fannie Mae and Freddie Mac. UMDP has been the foundation for standardizing mortgage data across the industry, enabling automation, consistency, and scalable risk analysis. UAD 3.6 is the next evolution of that work. It replaces legacy appraisal forms with a single, dynamic Uniform Residential Appraisal Report (URAR). Instead of choosing a form number, the appraisal is driven by property characteristics and inspection type. The data is structured, standardized, and aligned with the MISMO reference model, enabling cleaner integration with lender systems and far more reliable downstream analysis.

“Ordering, procurement, quality control, underwriting, risk, and compliance are all implicated.

For mortgage originators, the implications are tangible. Cleaner appraisal data supports faster reviews, fewer conditions, and greater confidence in collateral risk assessment. That confidence directly supports expanded use of appraisal waivers, which translate into lower costs, shorter cycle times, and a smoother borrower experience.

“There is also risk in delay. Lenders who wait until UAD 3.6 is mandatory are likely to carry hidden costs long after the deadline: manual reviews, exception handling, vendor misalignment, and internal confusion. By contrast, lenders using today’s Limited Production Period as a learning window are positioning themselves for efficiency and scale.

“The only question left is leadership. Ask your leadership team: Are we prepared to adopt UAD 3.6? What systems, partners, and timelines are in place? For a deeper look at why UAD 3.6 matters, how it ties to UMDP, and what early adoption unlocks for lenders and originators, read the full VieauxPoint blog: Do You Want Appraisal Waivers, Faster Turn Times, and Less Risk? Waiting will not make this easier. Preparation will.” Thank you, Brian!

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better off shooting yourself in the foot...

 

[swandel1]

There is nothing of any interest in the body of this post. However, the title "UAD 3.6 Means More Waivers" does peak my interest. With the increased costs, assuming most appraisers raise their fee to the $1200+ range + the sometimes-outrageous AMC fees - this will lead to more waivers. The question is to what percentage? In hindsight, last time I looked at the waiver percentage, it wasn't that high. One has to agree that sometimes an appraisal is not needed when a property is worth $1M (owned outright/no mortgage) and the borrower wants a $50k home equity loan. It is going to be interesting to see what shakes out. There was a poll on here recently on who was retiring once 3.6 becomes fully integrated (or close to). I haven't seen the results of the poll. If there is significant attrition, as many of us are near the general age of retirement, how much further will that affect our fees? With minimal competition, we could theoretically charge $3500 for a typical appraisal. Eventually that would entice more people to enter the field; and could also see crossovers entering the picture from the commercial arena that are only making $60k a year working for a big nationwide appraisal firm.

I ponder this stuff regularly. Again, it will be interesting what actually shakes out. There are so many unpredictable variables.

 

[glenn walker]

Yes more waivers as technology and data collection becomes faster and National data banks get bigger. Just part of the long term plans by the GSEs and Money Center Banks and the larger Wall Street Mortgage backed security hedge funds.

 

[swandel1]

Yes more waivers as technology and data collection becomes faster and National data banks get bigger. Just part of the long term plans by the GSEs and Money Center Banks and the larger Wall Street Mortgage backed security hedge funds.

Can't say I disagree with where they are going with this, from their standpoint. With more data available, at a certain point they get "that warm and fuzzy feeling" when dealing with un-distressed tract home properties; add in all the MLS photos of the property, etc.. At what point does the public pressure on higher fees increase the waiver percentage?

 

[djd09]

mismo...what a rabbit hole

 

[glenn walker]

Can't say I disagree with where they are going with this, from their standpoint. With more data available, at a certain point they get "that warm and fuzzy feeling" when dealing with un-distressed tract home properties; add in all the MLS photos of the property, etc.. At what point does the public pressure on higher fees increase the waiver percentage?

The public doesn't want appraisals as they don't perceive the value and that's because their told it's for the lender not them. That's the killer who want's to pay $600.00 to be told it's not for you and don't even talk to the appraiser. There's
no other service or product I'm aware of where your told to pay for something you don't even want.

 

[NC Appraising]

The public doesn't want appraisals as they don't perceive the value and that's because their told it's for the lender not them. That's the killer who want's to pay $600.00 to be told it's not for you and don't even talk to the appraiser. There's
no other service or product I'm aware of where your told to pay for something you don't even want.

Ofcourse nobody wants an appraisal?

Why? Potential deal killer.

Why would the mortgage broker, re agent, buyer or seller want a deal killer?

I mean, its not like they are using someone else's money and their paycheck depends on the deal going thru?

Buyers for the most part could care less about the value. Buying a home is personal, subjective, are for the most part not using their on money and mostly depends on getting approved.

Work for a new home builder...you will realize how much cost really matters LOL. The lender sets the a maximum price allowed price/budget..by golly it gets met almost every single time.

Buttt......its not their money! It's not the buyers, the re agent, nor the mortgage brokers. It's not even the GSEs money. It's the investors money....US.

Let's get rid of the home inspection? That's the top deal killer. No one wants that except for the borrower. The only reason they want it is because if something goes wrong, its their money, that they don't have more than likely to fix it.

Credit checks? Nobody wants those either..another top deal killer before any deals are even done.

 

[djd09]

im surprised mismo is not located on 15th st...but close enough

 

[djd09]

Chair Champion​

$55,000

Also Includes:

• 6 complimentary MISMO Summit registrations per Summit
• 10 complimentary registrations for MISMO's Boot Camp Course per calendar year
• 10 complimentary enrollment and renewals for MISMO's CMSP and AMSP Professional Certifications
• Opportunity to include complimentary Corporate MISMO Memberships for up to 3 Wholly Owned Subsidiary Companies
• Consideration for introducing Speakers at MISMO events
• Opportunity to have Company featured in a MISMO Webinar highlighting how MISMO standards are successfully leveraged

Become a MISMO Member

www.mismo.org

...

 

[cashcatz]

Chair Champion​

$55,000

Also Includes:

• 6 complimentary MISMO Summit registrations per Summit
• 10 complimentary registrations for MISMO's Boot Camp Course per calendar year
• 10 complimentary enrollment and renewals for MISMO's CMSP and AMSP Professional Certifications
• Opportunity to include complimentary Corporate MISMO Memberships for up to 3 Wholly Owned Subsidiary Companies
• Consideration for introducing Speakers at MISMO events
• Opportunity to have Company featured in a MISMO Webinar highlighting how MISMO standards are successfully leveraged

Become a MISMO Member

www.mismo.org

...

Being a standard, the MISMO stuff should all be open source - 100% of their materials out there in the public.