Great Article Just don't know what to believe anymore

[FMV]

Nobody is Ready for UAD 3.6
by Isaac Peck, Publisher
I just got back from Valuation Expo, the nation's largest and most dynamic conference for real estate appraisers and valuation industry stakeholders. More than 800 people made it to Las Vegas this year.
Appraisers, chief appraisers at appraisal management companies (AMCs), lenders, regulators, software developers, service providers, insurance professionals and more convened to talk about the latest technology and explore where the profession is headed.
The mood was elevated and positive—many attendees were genuinely invigorated and excited about the future. And yet, despite all the positivity, another reality was plainly clear from the conversations: Nobody is ready for UAD 3.6.
While many of the leading software providers received initial approval from Fannie Mae and Freddie Mac (the GSEs) in late 2025 and early 2026, word on the ground is that there are still plenty of bugs to work out.
AMC executives privately shared that they have staff simultaneously testing all the GSE-approved appraisal reporting software so they can troubleshoot and support appraisers when they inevitably run into bugs and errors trying to turn in an assignment. Some of those bugs are being run back to the software companies in real time, as appraisers, AMCs, lenders and software providers work together to find a solution.
In other words, while the GSEs tested the main appraisal report software providers on several different types of assignments, there are so many nuances, data fields and report settings that bugs are surfacing rapidly now that appraisers are finally doing live assignments.
In addition to the software challenges, part of the problem is that most lenders haven't begun ordering UAD 3.6 reports at all.
I spoke with several regional AMCs. Each had completed just two UAD 3.6 assignments—and in each case, one of the two was a test run the AMC had ordered itself.
When asked how UAD 3.6 was going at Val Expo, several Rocket Mortgage staff said they had ordered only six appraisals so far in the new format. Given that Rocket Mortgage originates roughly six percent to seven percent of all residential mortgages in the United States, their readiness two months out is indicative of industry readiness at large.
If one of the largest mortgage lenders in the country has only done six UAD assignments, how many appraisers have actually completed a UAD 3.6 assignment? The answer is very, very few.

 

[Non Sequitur]

Mr. Peck is spot on.

Great article by Isaac Peck in Working RE. Definitely worth the read:

Nobody is Ready for UAD 3.6

> The Appraiser Coach> AMC Guide> OREP E&O ★★★★★“They are knowledgeable, professional, and understand urgency.” – Joe Thweatt Nobody is Ready for UAD 3.6 by Isaac Peck, Publisher I just got back from Valuation Expo, the nation’s largest and most dynamic conference for real estate appraisers and...

www.workingre.com

"When asked how UAD 3.6 was going at Val Expo, several Rocket Mortgage staff said they had ordered only six appraisals so far in the new format. Given that Rocket Mortgage originates roughly six percent to seven percent of all residential mortgages in the United States, their readiness two months out is indicative of industry readiness at large."

"For appraisers, one risk in all this is that the industry’s lack of readiness becomes the appraiser’s problem. When a report won’t transmit, when a field won’t populate, when a revision request comes back three times because the AMC’s system can’t read the file correctly—it is the appraiser who eats the turn-time and, often, the fee.

An appraisal software executive shared with me privately that he fears appraisers may be (wrongly) blamed if the rollout goes poorly and the market is disrupted. It would be easy to sell a narrative that “appraisers weren’t ready,” or that appraisers can’t handle the new report format. Such a view clearly misses the point. After all, appraisers don’t control the development of the software, nor do they control when UAD 3.6 reports start getting ordered, to Reuter’s point.

The practical takeaway for the boots-on-the-ground appraiser: The next 30 days are a crucial window to practice with UAD 3.6 assignments, find a software vendor that will actually work with you and revisit whether your current fees reflect what a 3.6 report actually takes—at least if you wanted to do that before the report format is mandatory."

Thank you, Mr. Peck.

 

[Non Sequitur]

 

[FMV]

An appraisal software executive shared with me privately that he fears appraisers may be (wrongly) blamed if the rollout goes poorly and the market is disrupted. It would be easy to sell a narrative that “appraisers weren’t ready,” or that appraisers can’t handle the new report format. Such a view clearly misses the point. After all, appraisers don’t control the development of the software, nor do they control when UAD 3.6 reports start getting ordered, to Reuter’s point.

This should have been in all CAPS... LOL! So True!