Anyone complete a UAD 3.6 report ..... yet

[Non Sequitur]

ANSI is a recognized building standard that has been around for decades. It provides a way of breaking out above-grade and below-grade, enclosed areas, heated vs. non-heated, etc.

Using lidar / an app to create a floor plan or sketch is not a measuring standard; it is simply a tool . Like any tool, it depends on the person using it - the sketches do look pretty!

It is not a building standard, it's a measuring standard that was adopted by the GSEs in 2021 and made mandatory in 2022. There's nothing sacred about it, if/when the GSEs pivot to lidar based scans that claim to be ANSI compliant we will have no say in the matter.

 

[J Grant]

It is not a building standard, it's a measuring standard that was adopted by the GSEs in 2021 and made mandatory in 2022. There's nothing sacred about it, if/when the GSEs pivot to lidar based scans that claim to be ANSI compliant we will have no say in the matter.

ANSI is a measuring standard AND a standard of what sf GLA areas get counted above grade vs below grade and the same for stairs open areas, garages etc. It has been widely adopted by builders nationally and maybe even internationally.

If they change the appraisal to some other standard using Lidar scans, I will do it when the GSE's or clients require it.

 

[Zoe]

Personal opinion--whoever is forcing this switch should create and offer their own classes. For free.

Okay, I can't get you out of my head. In your humble opinion, why is your personal opinion not happening?

I'm with you. I want your personal opinion why your wish don't come true?

I can extend thoughts to employee vs independent contractor etc., but I want your personal opinion why your wish is not happening?

 

[Essexfenwick]

It's going to be data collectors and MAIs / SRAs for legal, cpa and properties that can't be pounded into the system. AI is on board.

 

[Overimprovement]

Okay, I can't get you out of my head. In your humble opinion, why is your personal opinion not happening?

I'm with you. I want your personal opinion why your wish don't come true?

I can extend thoughts to employee vs independent contractor etc., but I want your personal opinion why your wish is not happening?

Money flows into these organizations. It rarely flows out. Absolute power corrupts absolutely.

 

[Fernando]

I got this email today.

I won't be attending.

UAD 3.6 Bootcamp | Orlando, FL | March 4th-6th - Appraiser eLearning

UAD 3.6 Bootcamp | Orlando, FL | March 4th-6thTake a grand tour of the new URAR, see how it works with verified UAD 3.6 software, and get your questions answered by representatives from Fannie Mae and Freddie Mac.

appraiserelearning.com

I think it is like $495 just for the classes. That don't count room and board. I think you can stream it though and get credit depending on your State.

Don't need no darn UAD class. I just wing it and send it in. Reviewers will teach me what needs to do.

 

[timd354]

Production always wins. If lenders aren't ready 3.6 will be delayed. If indie appraisers aren't ready they will be replaced.

This is the best comment in this thread....and perhaps the best comment on the AF in a decade or longer.

 

[Zoe]

Don't need no darn UAD class. I just wing it and send it in. Reviewers will teach me what needs to do.

You just do Fernando knows best method. LOL

 

[J Grant]

It got busier now wrt loans I doubt lenders want to divert time from processing loans to integrating UAD3.6 into their systems, and if it is cumbersome to adapt they will ask for a delay.

If lenders can integrate UAD3.6 into their processing, then at some point they will transition to it. However I doubt they are excited about it-UAD 3.6 will not increase their revenues, because it will not increase the amount of loans generated. I am aware it is not designed to do that - so if they make the same volume of loans as before, wtf do they care about it - just saying.

 

[J Grant]

Here are key actions for lenders:

1. Technology & Systems:
   • Update Software: Ensure LOS, QC tools, and appraisal ordering platforms can ingest, process, and store the larger, more complex UAD 3.6 data files.
   • Vendor Coordination: Work with your tech providers to confirm system readiness and data mapping changes.
2. Process & Policy Updates:
   • Revise Workflows: Adjust appraisal ordering, review, and delivery processes to accommodate new requirements like explicit property type and scope of work definitions.
   • Update Engagement Letters: Align with AMCs on new standards and data requirements.
   • Review GSE Guides: Incorporate Fannie Mae and Freddie Mac's updated Selling Guide policies.
3. Staff Training & Communication:
   • Comprehensive Training: Educate all impacted staff (underwriters, processors, LOs) on the redesigned URAR, new data fields (e.g., combined bed/bath), and implications for risk.
   • Clear Communication: Proactively communicate UAD 3.6 expectations to AMCs and appraisers to ensure consistent adoption.
4. Data & Compliance:
   • Familiarize with Data: Understand the richer property characteristics (condition, quality, ADUs, floor plans) and market trend data.
   • QC Updates: Adapt internal quality control to validate the new data structures and formats.
5. Strategic Approach:
   • View as Opportunity: Treat UAD 3.6 as a chance to gain an edge through automation and improved data quality, not just a compliance hurdle.
   • Phased Rollout: Consider a gradual internal rollout to manage the transition effectively during the dual-delivery period.