New URAR Demo

[J Grant]

The whole is that prior changes to forms or UAD allowed appraisers to adapt in a day, and continue using whatever software they already had. This is indeed a difficult format to use and is stymying software providers ( and perhaps lenders as well ).

It's like taking an automatic transmission car and replacing it with a manual transmission clunker with no AC, with a max speed 50 mph. Make it as punishing and slow to use as possible.

In a normal car purchase, the driver learns a few features and is able to easily drive the new car off the lot. This is asking the driver to test various forms of gas, none of which help much, and take months to adjust to all the horrible new features that make driving torture.

 

[J Grant]

I assume software providers will find a way for an appraiser to make a template (or version of it) for each property type in the new format. At least that saves one from having to fill out each drop-down section from scratch on every report.

However, there is still a plethora of new data, a cut-up of information into different pages, and more demands of the inspection, all of which add significantly to time and labor. The GSEs designed it- one might think they would address lenders about appraisals needing additional time or fee changes.

Not going to happen- that was a fantasy. Judging from past performance, the GSEs will continue to expound aobut how inefficient and costly traditional appraisals are (even with the alternatives costing equivalent) and will continue to expand the use of alternative methods.
Then they wonder why appraisers are wary about the "exciting new changes that will transform the appraisal industry " ( PR spin)

 

[Dale Floyd]

Respectfully - I believe the GSEs need to get out of the appraisal business altogether. They have quite the conflict of interest, if you think about it logically. Beyond that, if history tells us anything - I think they have plenty of things they should be doing that are much more important than looking over the shoulders of others. JMO

As far as the form/report, it's happening at this point and there's nothing to stop it. The new forced standards and reports weren't implemented to help the appraiser be better at valuation, but this will expose what level of knowledge and ability we have.

 

[Bobby Bucks]

It appears an important component of the new URAR is not being discussed. What about the Appraisal Data Collectors? It seems both odd and disrespectful to exclude them after months of hearing about how important they are in the process. Where is the desktop recruiter?

 

[alebrewer]

Respectfully - I believe the GSEs need to get out of the appraisal business altogether.

They're trying to - don't rush them.

 

[Bobby Bucks]

On a side note is anyone else being asked by clients about the new form that isn't a form? I'm not referring to AMCs and their silly surveys with loaded fee questions. I'm talking about real clients. I've had more than one direct lender that I personally know to basically ask WTF is going on with the new form that isn't a form and what do I think about it..... when will reports be sent using it and most importantly is it as big a train wreck as rumors say it is? I have no intention of misleading clients when they ask blunt questions about it, in fact being dogmatic now will pay dividends in the long run.

 

[J Grant]

On a side note is anyone else being asked by clients about the new form that isn't a form? I'm not referring to AMCs and their silly surveys with loaded fee questions. I'm talking about real clients. I've had more than one direct lender that I personally know to basically ask WTF is going on with the new form that isn't a form and what do I think about it..... when will reports be sent using it and most importantly is it as big a train wreck as rumors say it is? I have no intention of misleading clients when they ask blunt questions about it, in fact being dogmatic now will pay dividends in the long run.

I have one client who informed me via email that they will be implementing UAD 3.6 in the third quarter of 2026. I have not heard from the others. I doubt any normal client is consulting appraisers about it other them asking them if they are ready to send reports via new format -

 

[Non Sequitur]

Whether or not any hand picked field appraisers were invited to the echo chamber is a moot point now.

Just look around, after years of development and millions of dollars spent there still isn’t a street ready software version available. Read the tea leaves; There’s way more at play than what is being admitted to in this thread. This mess isn’t just a software issue.

 

[Bobby Bucks]

I have one client who informed me via email that they will be implementing UAD 3.6 in the third quarter of 2026. I have not heard from the others. I doubt any normal client is consulting appraisers about it other them asking them if they are ready to send reports via new format -

Interesting they gave you a specific date for implementation. I was not asked my opinion of the new form and the timeline because of any excess competency/intelligence on my part, I just happened to know them. I can only wish it was for the former reason.

 

[J Grant]

Interesting they gave you a specific date for implementation. I was not asked my opinion of the new form and the timeline because of any excess competency/intelligence on my part, I just happened to know them. I can only wish it was for the former reason.

They did not give a date, just a 3Q timeline. I thought it was nice of them - an email sent to their panel, not just little old me of course.