My prediction on 3.6

[J Grant]

I am sure there are people far more qualified than I, but I have an idea to start a thread called UAD tips for working appraisers. That way, those of us who will be wading into the UAD challenge can share tips, shortcuts, or answers to frustrating roadblocks to cut down on the pain!

 

[George Hatch]

Per the samples provided on Fannie's website, the grid is broken up between two pages. See screen shot. The overview of all comps from top to bottom is very useful. You'll be scrolling up and down just to see the entire grid from top to bottom.... maybe this is only a pain for people who go over there completed report. Maybe as you said, it'll evolve.

Based on the video in post number 94, I gathered they want as little narrative as possible and are pushing for AI to do commentary and adjustments for you.

True Tracks has made a $40 million dollar gamble to make the residential appraiser a W-2 position. So, if you're going to be their employee, you are going to be using true tracks AI to fill the report out. I would assume there would be a quota to be met as well. The setup seems to be going towards being a real estate appraiser, not an independent real estate appraiser.

View attachment 109857

I think you might be missing the point I was making about the reporting format. The existing GSEs present 3 to a page but your appraisalware vendor can render 6 to a page on your screen even if they don't print 6 to a page for the report.

When I refer to the GSEs using a narrative style format that just means they very well might have done that in a word processor or a spreadsheet in lieu of using a structured form from an appraisalware vendor due to such not existing at that time. MOST of their report example resembles the formatting you'd find in a narrative via word processor.


I built my forms in Excel 15 years ago, and that includes versions of the GSE forms. I've never done it but I think you can do the same with the PDF programs. The appraisalware apps are not the only way to render a report with tables and adjustment grids.

As I understand it, the UAD is not a form; it's a portable dataset that can be used in part or in full to populate various apps throughout their system including the appraisal and review apps. What you do on your screen will not render that way in most of those apps. Possibly including the appraisal reports themselves, but then again possibly not.

 

[Vermonter]

https://twitter.com/x/status/2067558751842820146

 

[Terrel L. Shields]

That's if the true tracks W-2 staffers don't get the assignment.

The problem with being an employ, you are still licensed and liable for every error anyone finds. Trust me on this one.

 

[Lycabull]

I think you might be missing the point I was making about the reporting format. The existing GSEs present 3 to a page but your appraisalware vendor can render 6 to a page on your screen even if they don't print 6 to a page for the report.

George, I've always thought of you as one of the more reasonable posters on here, even if you are from Kalifornia. I especially like the way you usually have a positive, what is the best path forward perspective verses complaining about it like most of us do. On a scale of one to ten, how transformational do you think the UAD changes will be, assuming they ever get all the bugs worked out of whatever it is they are trying to accomplish? I'm old enough that I don't really have a dog in this fight, but I see nothing more than a glorified AVM and a raw data mine for AI to use more than anything else.

I do not see how the software vendors are going to accommodate any fewer than 6-9 comps. How else are folks going to do all those ROV requests? Is there UAD guidance on that yet? They should make the lenders grid comps in all ROV requests, no? Might cut down on the more nonsensical ones, right? Naw, what am I thinking, some things never change.

I'm curious to see what the IT poster on here comes up with. Seems like he is making it an opportunity to offer a solution.

 

[Lycabull]

The problem with being an employ, you are still licensed and liable for every error anyone finds. Trust me on this one.

Not if your employer IS a GSE. They do what they wunt. I never had any problems with anyone reviewing me. It was usually the other way around.

 

[Surf Cat]

 

[djd09]

I especially like the way you usually have a positive, what is the best path forward perspective verses complaining about it like most of us do.

interesting...why is he so positive

 

[glenn walker]

One reason he's so positive is because he lives in one of the best beach side communities in San Diego area where the weather is the best in the States and happy people live there. Folk's in gloomy areas like Cleveland don't have much to live for and depressed and gloomy over takes many especially as they get older.

Not much you can do about it unless you win the lottery or inherit a few million. I would just embrace the new technology and do the best you can in your final years.

 

[George Hatch]

George, I've always thought of you as one of the more reasonable posters on here, even if you are from Kalifornia. I especially like the way you usually have a positive, what is the best path forward perspective verses complaining about it like most of us do. On a scale of one to ten, how transformational do you think the UAD changes will be, assuming they ever get all the bugs worked out of whatever it is they are trying to accomplish? I'm old enough that I don't really have a dog in this fight, but I see nothing more than a glorified AVM and a raw data mine for AI to use more than anything else.

I do not see how the software vendors are going to accommodate any fewer than 6-9 comps. How else are folks going to do all those ROV requests? Is there UAD guidance on that yet? They should make the lenders grid comps in all ROV requests, no? Might cut down on the more nonsensical ones, right? Naw, what am I thinking, some things never change.

I'm curious to see what the IT poster on here comes up with. Seems like he is making it an opportunity to offer a solution.

I have very little experience with the current UAD but as far as I can tell from my own limited usage and from doing reviews it hasn't had any effect on how appraisers analyze and compare properties. I don't see how the new UAD will affect the analysis except to the extent that it added a couple sections (like HBU analysis which most appraisers never previously got into). It'll add some time to the report writing although it also incentivizes appraisers to go to direct entry on a tablet instead of the redundancy of using handwritten notes then repeating into the report. Once the appraisalware vendors smooth out their uploads and other various bugs the technology aspect should (in theory) take no more/less time to perform than with the existing formsware.

As for ROVs and aside from trivial typo action, I think a large percentage of those are avoidable via getting more proactive with the problem identification phase of the assignment and by not ignoring sales data that would normally come to a reader's attention who is checking on the comps.