New URAR Demo

[djd09]

If you did not see it in those samples then I can only conclude that you did not actually look at the samples - because it is there

View attachment 103324

and so how does this affect value....or did i miss that too...and why not in inches ala ansi

 

[djd09]

and no general addendum...where am i going to put all my disclaimers...my lawyer doesn't like that idea

 

[J Grant]

The new layout does provide more detail about property condition, especially defects.

 

[djd09]

there is a cert 23...but not like the last cert 23

 

[Alsie35]

You are exactly correct. Based on my limited use of the DEMO I have, if any software company comes up with a non-cloud based verision - a version that acts like its current software - they will be the winner. As of this moment, the software I have will not be a winner - no math calculations, no carry-forward entries, no canned comments, no templates.

For those testing out various software companies - let us know if you have the same "limitations" I am running into.

If it is ACI that you are talking about, I will have a message for them when the time comes to tackle "The UAD 3.6 Abomination" a year from now - because those are UNFORGIVEABLE shortcomings:

 

[DWiley]

and so how does this affect value....

Value is just one type of collateral risk, and appraisal reports have long required data that is used to analyze other types of risk.
You may have noted that the GSEs will not purchase loans on homes with certain condition/quality ratings, even if the value opinion is very well supported.

 

[djd09]

7. Does the new appraisal report still contain a General Addendum?No. In place of the General Addendum, there are specific fields within each section of the URAR that allowcommentary to be added as necessary, offering the appraiser ample room to provide additional information.

8. Is the new URAR for mortgage purposes only?Yes. The purpose of the URAR has not changed. The opinions, conclusions, and certifications in the appraisalreport are for the intended user to evaluate the property that is the subject of the appraisal for a mortgagefinance transaction or related activities.

9. Does UAD 3.6 support FHA, VA, and USDA requirements?Yes, the GSEs have worked closely with the government agencies – Federal Housing Administration (FHA), UnitedStates Department of Agriculture (USDA), and the Department of Veterans Affairs (VA) – to include their specificrequirements in UAD 3.6. Contact each agency for their implementation plans.

https://singlefamily.fanniemae.com/media/23286/display

7 years in the making...and you cant do a land appraisal on their new forms

 

[Dublin ohio]

Basing your assessment of a product on a demo is like determining an OMV prior to inspecting the property

 

[djd09]

Value is just one type of collateral risk, and appraisal reports have long required data that is used to analyze other types of risk.
You may have noted that the GSEs will not purchase loans on homes with certain condition/quality ratings, even if the value opinion is very well supported.

oh they wont purchase loans without ratings....wrong...they call them waivers

 

[DWiley]

7 years in the making...and you cant do a land appraisal on their new forms

The GSEs don't buy loans where the collateral is vacant land. That is why there has never been a GSE land form and why it is not supported in UAD 3.6.