New Fannie/Freddie Forms

[Non Sequitur]

standardized adjustments?

And standardize comp weighting, see the attached video:

UAD 3.6 Focus: Comp Weighting Part 2

Did you drive the comps? The new URAR has a spot in the Data Sources for that. Watch this quick video to see what that looks like. Have a suggestion for a Tech Tip orcomment on this feature?Give us some feedback and let us know.

blogs.alamode.com

 

[TerryRohrer]

And standardize comp weighting, see the attached video:

UAD 3.6 Focus: Comp Weighting Part 2

Did you drive the comps? The new URAR has a spot in the Data Sources for that. Watch this quick video to see what that looks like. Have a suggestion for a Tech Tip orcomment on this feature?Give us some feedback and let us know.

blogs.alamode.com

I didn't watch the video, but anyone taking this as a demand by anyone to dictate how an appraiser must weight comps in an appraisal that appraiser will be signing is simply making **** up. How can anyone expect appraisers to have any credibility whatsoever when they can't read 4th grade English? And we have another thread going where someone who represents themselves as the authority on all things appraisal suggesting that a property with area measured to be partially below grade, and reported to be partially below grade, with an accompanying photo showing it to be partially below grade, "Doesn't look below grade to them!" F$^%^%$k!

 

[Non Sequitur]

I didn't watch the video, but anyone taking this as a demand by anyone to dictate how an appraiser must weight comps in an appraisal that appraiser will be signing is simply making **** up. How can anyone expect appraisers to have any credibility whatsoever when they can't read 4th grade English? And we have another thread going where someone who represents themselves as the authority on all things appraisal suggesting that a property with area measured to be partially below grade, and reported to be partially below grade, with an accompanying photo showing it to be partially below grade, "Doesn't look below grade to them!" F$^%^%$k!

You probably should have before accusing anyone of not being able to read 4th grade English.

 

[TerryRohrer]

You probably should have before accusing anyone of not being able to read 4th grade English.

View attachment 96955

Yeah, my source is always some obscure, off the record conversation between unknown parties reported by someone selling something. On the other hand, the sum total of what I can find in the FNMA Selling Guide says:

"Additionally, the appraiser’s comments must reflect his or her reconciliation of the adjusted (or indicated) values for the comparable sales and identify why the sale(s) were given the most weight in arriving at the indicated value for the subject property."

That is unchanged from forever. There is no reliable source that reveals a "standardized comp rating". That is your fabrication.

 

[TerryRohrer]

"In the new UAD, the GSEs are requiring the appraiser to identify how they’ve weighted each comparable – right in the grid. Watch this video to see what this looks like."​

UAD 3.6 Focus: Comp Weighting Part 1

Did you drive the comps? The new URAR has a spot in the Data Sources for that. Watch this quick video to see what that looks like. Have a suggestion for a Tech Tip orcomment on this feature?Give us some feedback and let us know.

blogs.alamode.com

Today, we’ll look at some examples the GSEs have given for describing relative comp weight. Watch this short video to see what it looks like.​

UAD 3.6 Focus: Comp Weighting Part 2

Did you drive the comps? The new URAR has a spot in the Data Sources for that. Watch this quick video to see what that looks like. Have a suggestion for a Tech Tip orcomment on this feature?Give us some feedback and let us know.

blogs.alamode.com

 

[glenn walker]

Nothing new it's just so many that never read the guidelines...in fact outside of the advent of UAD I can go clear back to 1985 and 90% of this was in play. The only difference is residential appraisers didn't pay any attention and there was little to no enforcement. Today there just trying to force appraisers to comply and creating forms and boxes that can't be ignored with explanation.

The problem is to do it by the book adds time and with appraisal fees stagnant and lower after inflation the business model starts to get unprofitable or the appraiser really owns a $15 per hour business with no pay raises..promotions or bonuses. At some point I guess it becomes a dead end job.

 

[Alsie35]

Nothing new it's just so many that never read the guidelines...in fact outside of the advent of UAD I can go clear back to 1985 and 90% of this was in play. The only difference is residential appraisers didn't pay any attention and there was little to no enforcement. Today there just trying to force appraisers to comply and creating forms and boxes that can't be ignored with explanation.

The problem is to do it by the book adds time and with appraisal fees stagnant and lower after inflation the business model starts to get unprofitable or the appraiser really owns a $15 per hour business with no pay raises..promotions or bonuses. At some point I guess it becomes a dead end job.

Increase per/appraisal time by 3 times, reduce income by the same amount. That is the real thing going on here. The extermination of appraising as a profitable business in pursuit of minutiae that have very little to do with what the buyers base their purchase decisions on ... why? "Because they can" (ie they have the software tech) ... been coming for a while ...

 

[Joe Flacco]

Saying which comps are the best and why is really basic stuff.

 

[Joe Flacco]

What

 

[Non Sequitur]

Yeah, my source is always some obscure, off the record conversation between unknown parties reported by someone selling something. On the other hand, the sum total of what I can find in the FNMA Selling Guide says:

CoreLogic/a la mode has been called many things, but obscure and unknown? I can't say I agree with that.

"Additionally, the appraiser’s comments must reflect his or her reconciliation of the adjusted (or indicated) values for the comparable sales and identify why the sale(s) were given the most weight in arriving at the indicated value for the subject property."

That is unchanged from forever. There is no reliable source that reveals a "standardized comp rating". That is your fabrication.

Below is a linky-dinky for UAD 3.6. The video, screen shot, and reference I posted earlier have no context in terms of prior selling guides. And BTW, accusing me of fabricating "standardized comp rating" is flat out false. Again, for those who actually read posts and follow links, UAD 3.6 has a grid field for Comp Weighting and the responses have been standardized as Most, Less, No Weight (with definitions in the published guidance).

Uniform Appraisal Dataset | Fannie Mae

The UAD and Forms Redesign initiative will leverage extensive stakeholder input to update the appraisal dataset, align it with the industry-standard MISMO® Reference Model Version 3.X, and overhaul the uniform appraisal forms to establish a more flexible, dynamic structure for appraisal reporting.

singlefamily.fanniemae.com