Free Webinar Hosted by Freddie Mac

[NC Appraising]

Ps, I have some questions about market. Kinda lost me on that one.

For 20 years that I've been in the business appraisers have been screwing up the neighborhood....I fear that the market will succumb the same faith.

 

[DWiley]

Good job DW.

I just wished all of the lenders and AMCs could have heard it. Especially the part about support for your adjustments...

I have mixed feelings about it...

One hand we all know that their support for a good amount of their adjustments are fake...open their files and you will see nothing. See my files yeah..OK.

On the other hand, most are using these push button adjustments.....

I really don’t know which is worse.

Either way, per the reps, you don't have to include the actual math or your work. Some AMCs want the address for each matched pair...dw can correct me, but the gses don't even need that.

Like always, the AMCs and lenders took it to the extreme and ran with it.

Thanks for attending. The goal was to provide practical info that appraisers could actually use in the everyday work. BTW, we say the same things to lenders and AMCs when we meet with them I loved the fact that for 45 minutes we were hit with SO many questions. That was exactly what we wanted - to address whatever question the appraiser in the field was trying to answer.

 

[djd09]

adjustments...like the waivers don't...and then you use as a comp...corrupting the numbers but carry on

 

[robertwells]

Just a reminder that this free webinar is tomorrow.

DW

Very informative presentation...thanks!!

 

[DWiley]

Very informative presentation...thanks!!

Thanks for attending. We are going to be doing more of those, so if you have any topics you would like us to address, just let me know.

 

[Fernando]

The meeting was great!
However, today news that 3.6 has been extended to next year.
Did Freddie not aware of this extension? As well as ACI not ready for 3.6?
Makes me wonder if Freddie and Fannie are communicating with each other.

 

[djd09]

Fannie Mae, Freddie Mac announce ABA-backed UAD 3.6 policy exceptions​

Freddie Mac and Fannie Mae announced today that they are providing a temporary policy exception for lenders that cannot meet the Uniform Appraisal Dataset, or UAD, 3.6 mandatory implementation deadline of Nov. 2. The announcement was made in coordination with the Federal Housing Finance Agency.

The announcement states that eligible lenders must request the exception to continue submitting legacy UAD 2.6 appraisal reports through May 19, 2027. For these lenders, both UAD 2.6 and 3.6 appraisals will be accepted during the transition period. However, as of March 1, 2027, UAD 2.6 appraisals will no longer qualify for certain appraisal-related representations and warranties relief, creating increased risk for lenders granted a temporary policy exception.

Freddie Mac and Fannie Mae strongly encouraged lenders to complete their UAD 3.6 implementation before March 1, 2027. After May 19, 2027, all new appraisal submissions must use UAD 3.6, with support for UAD 2.6 ending completely on June 28, 2027, when the legacy format will no longer be accepted or supported.

ABA push for an extension​

The temporary policy exception aligns with American Bankers Association advocacy to extend the mandatory date, as ABA members have expressed concern about the requirement that all government-sponsored enterprise loans be delivered with UAD 3.6

ABA warned the GSEs that the mandatory timeline would create significant operational, market, and consumer risks because many lender and appraiser systems are not yet fully developed or capable of producing, transmitting and receiving UAD 3.6 data. Without additional implementation time, the transition would disrupt mortgage lending, according to the association.

Fannie Mae, Freddie Mac announce ABA-backed UAD 3.6 policy exceptions

Freddie Mac and Fannie Mae announced today that they are providing a temporary policy exception for lenders that cannot meet

bankingjournal.aba.com

hey dw...did you do this