Free UAD 3.6 Examples

[NC Appraising]

No net and gross adjustment indicators easily showing which competitive sale is least comparable.....

What? You crazy. Wink

That was my dream come true...not having to waste my time making those stupid comp 1 exceeds the 15%...

We all know that appraisers were trained to stop just at that point before the adjustments made the 15 and 25.....UW machine would start to smoke.

Now if we can get rid of the 10%, one mile, six month, predominate......

Yeah, I purposely used less comparable sales to exceed the adjustment guidelines on purposes. I like messing with those UWs.

 

[Surf Cat]

What? You crazy. Wink

That was my dream come true...not having to waste my time making those stupid comp 1 exceeds the 15%...

We all know that appraisers were trained to stop just at that point before the adjustments made the 15 and 25.....UW machine would start to smoke.

Now if we can get rid of the 10%, one mile, six month, predominate......

Yeah, I purposely used less comparable sales to exceed the adjustment guidelines on purposes. I like messing with those UWs.

They did away with the exceeding 15% to 25% parameters and the 10% line item adjustment a long time ago.... expanding the parameters of time and distance is of utmost importance especially with the lack of sales. It's commonplace.

The net and gross adjustments do show which competitive sales are least like the subject however and are good indicators in the reconciliation process.

Now, there are outliers to this rule where say, you have a sale with high gross adjustments due to it being a dated sale and the time adjustment brought the gross adjustments up high. A quick sentence stating this and why you're putting weight on it is all it takes. I don't know, but I have a feeling the 3.6 is going to steam roll this....

 

[NC Appraising]

I hope you are right about the “10 years left”. I figure I have 5-7 years, tops, before I quit and chase butterflies until my dirt nap.

Back to the GSEs mining our appraisals, I think it will be a disaster for the GSEs and therefore, the mortgage industry. Mining raw data is one thing. Using raw data to build their automation software can be controlled. However, appraisals are mainly opinions based on that raw data. Mining opinions to run their automation is a recipe for disaster; “garbage in/garbage out” on a grand scale.

agentic AI crashing the market. We may have less time than I realized.

 

[Appraisal Solutions]

agentic AI crashing the market. We may have less time than I realized.

 

[Terrel L. Shields]

Borrower pays for it and all of the data on their home is being used for free.....a

If you mortgage you house, then "their home" is actually owned by the bank and you are just renting it for a term.

 

[Zoe]

This UAD 3.6 nonsense is a disaster for working appraisers.

Read the fine print. Our reports can be stored, copied, analyzed, reused, and redistributed without our consent. That is not modernization. That is turning appraisers into an unpaid data farm so lenders and GSEs can build more overlays and automated review garbage.

They lock down assumptions, limiting conditions, intended use, intended user, and certifications so you have less control over your own assignment and more ways to get jammed up later. Then they normalize revision history and borrower driven reconsiderations like the appraisal is a living document to be negotiated after delivery.

More liability. More second guessing. Same garbage fees.

I called this out in Mein Comp: The Last Appraiser. This is exactly how the profession gets hollowed out while everyone else monetizes our work product.

If you think this helps appraisers, you are not paying attention.

Yeah, I just read that long article in Working RE magazine this morning. It is definitely increasing liability risk for appraisers. OREP guy said it opens the door for all kinds data to be thrown in the appraisal that is false/fake.

 

[Zoe]

You left out the A, number one reason.... compensation. The pay from AMC's is pathetic.

Yeah, if you get a copy of the Working RE magazine or can look it up online, one of the last articles talks about how fees need to be separated between AMCs and appraisers.

I think OREP publishes that magazine.

 

[Elliott]

Don't know if this would get by UW or even AMC checkers, looks a little ham fisted. And especially since, Foggy Bottom is,

"Foggy Bottom is a historic,, affluent neighborhood in Washington, D.C., located along the Potomac River west of the White House and adjacent to Georgetown. Known for hosting the U.S. Department of State, the Kennedy Center, and George Washington University, it is a hub of diplomacy, culture, and education." [Code words?]

 

[Surf Cat]

Don't know if this would get by UW or even AMC checkers, looks a little ham fisted. And especially since, Foggy Bottom is,

"Foggy Bottom is a historic,, affluent neighborhood in Washington, D.C., located along the Potomac River west of the White House and adjacent to Georgetown. Known for hosting the U.S. Department of State, the Kennedy Center, and George Washington University, it is a hub of diplomacy, culture, and education." [Code words?]

View attachment 107078

Code words: affluent, then everything after and including "known for".

 

[Non Sequitur]

Below is a post from one of the software providers. I have mixed feelings about this, seems like more work for us but I can’t say it’s a bad and maybe it’ll cut down on some made up revisions.

“This is something the majority of you need to know.

The GSE's have created their own validation software. Report software companies are encouraged to connect to this portal for validating xmls BEFORE you sign the report. A good software company will display the errors that come back and allow you to fix them.

this should alleviate a lot of buybacks, AMC revisions and underwriter revisions since the GSE's already approved the 3.6 report.”