UAD 3.6 is live, but many lenders aren't ready
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From left: Shawn Telford of Cotality, Liz Green of Servicelink, Tony Pistilli of Restb.AI
UAD 3.6, a sweeping overhaul of how residential appraisals are reported to Fannie Mae and Freddie Mac, becomes available to all lenders on Jan. 26. The rollout comes even as many lenders are still sorting out what the change will mean for their appraisal workflows, systems and timelines.
On Jan. 26, use of the new Uniform Residential Appraisal Report shifts from limited production to the optional phase, giving lenders 10 months to get ready.
www.nationalmortgagenews.com
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