The Path to November Second...3.6 movement

[Bobby Bucks]

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[Bobby Bucks]

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[Bobby Bucks]

The Path to Nov. 2: MISMO Panelists Discuss UAD 3.6​

“From a MISMO perspective, I want to set the stage of what this means for us as not only a community of collaborators, but also the impact that it has on the industry,” Green said. “I’m very passionate about the game-changing effect that MISMO’s vocabulary is going to have on the process of appraisal.”

Community of collaborators and a path? Hansel and Gretel appear to have left a trail of breadcrumbs. Why is there always witchery where Ellis Eye of newt is involved?

 

[Alsie35]

Community of collaborators and a path? Hansel and Gretel appear to have left a trail of breadcrumbs. Why is there always witchery where Ellis Eye of newt is involved?

Yep. They have collaborators alright.

But we don't see them the way they think we do.



HAVE YOU VOTED IN OUR "3.6 ABOMINATION" POLL?

THE "UAD 3.6 ABOMINATION" IS CURRENTLY LOSING 59.3% - 41.7%!!!

VOTE HERE:

Thread 'Poll - How Likely Are You To Retire Before Implementation Of The Uad 3.6 Abomination?'

Dec 15, 2025

Let's have a bit of fun ... I know that it is kind of early, but ... let's test the waters shall we, then re-run the poll again and see which way it is going in a few months when the new software is made available for trial ...

• Alsie35
• Replies: 284
• Forum: Fannie Mae, Freddie Mac, USPAP

 

[Bobby Bucks]

Yep. They have collaborators alright.

But we don't see them the way they think we do.

View attachment 109709

Wouldn't you think they would have considered a better choice of words? Maybe the collaborators' thesaurus is being synced with 3.6?

 

[djd09]

MISMO Fall Summit: Bringing Appraisals—and Appraisers—Into the 21st Century​

(l-r: Julie Giesbrecht; Elizabeth Green; Jillian White; and moderator Georgia Kromrie.)

WASHINGTON, D.C.—Property appraisals are at the core of the loan origination process—and the real estate finance industry’s efforts to make the process more efficient, less expensive and fair for all involved.

“You’re focused on the safety of consumers, but you have to inject some flexibility,” said Julie Giesbrecht, Senior Policy Analyst with the Federal Housing Finance Agency, Monday at the MISMO Fall Summit. “And appraisers are not the most flexible bunch. They are highly resistant to change—and I can say that, because I’m also an appraiser.”

Without greater flexibility during the pandemic, Giesbrecht noted, “appraisals would be a mess. There would have been tremendous backlogs and shortages of appraisers. We’ve been talking about making changes to the appraisal industry since 2016, and the pandemic forced the industry to change.”

Giesbrecht said Fannie Mae and Freddie Mac were “incredibly agile” in adapting during the pandemic and in encouraging appraisers to become more flexible; for example, allowing for desktop appraisals.

“It’s all about process change and re-engineering,” said Jillian White, Head of Growth with Aloft, Maple Grove, Minn. “The appraiser’s role does not necessarily change, because they are still licensed and bound to certain practices. The change is in what they have to learn to use technology and data standards.”

“Modernization allows appraisers to spend more time analyzing and less time doing things,” said Elizabeth Green, Chief Strategy Officer with Appraisal Logistics, Annapolis, Md. “So much of an appraiser’s time is spent driving from place to place. Desktop appraisals make the appraiser’s job so much more manageable.

“Today, as long as an appraiser is geographically competent, they could do an appraisal while they’re away on vacation,” Giesbrecht said.

White said Automated Valuation Models allow for a more accurate and less biased opportunity for appraisers. “It can also serve as an effective check on the appraiser,” she said. “You can take the data and compare it to other data and identify issues that an appraiser can go back and check and verify. It protects the borrower, because it provides a more accurate value; and it also protects the appraiser, because it allows for more consistent appraisers.

MISMO Fall Summit: Bringing Appraisals—and Appraisers—Into the 21st Century - MBA Newslink

WASHINGTON, D.C.—Property appraisals are at the core of the loan origination process—and the real estate finance industry’s efforts to make the process more efficient, less expensive and fair for all involved.

newslink.mba.org

oink oink oink...fall in line

 

[Surf Cat]

“Modernization allows appraisers to spend more time analyzing and less time doing things,” said Elizabeth Green, Chief Strategy Officer with Appraisal Logistics, Annapolis, Md.

Less time doing what things?? You mean like inspecting the subject property, delineating the neighborhood and comparing the most recent sales to that of the subject? Sounds better to me than slogging through a 3.6.....

Appraisal Logistics Solutions LLC is a privately held appraisal management company (AMC) headquartered in Annapolis, Maryland. The company operates with approximately 28–31 employees and generates an estimated annual revenue of $5.7 million.

Appraisers working for fees less than 20 years ago yet, this AMC is making $5.7 million annually......wakeup.

“Today, as long as an appraiser is geographically competent, they could do an appraisal while they’re away on vacation,” Giesbrecht said.

Appraisers have to work while on vacation to survive...... you can be an appraiser from anywhere! LOL

 

[djd09]

a form that needs three days of training...and eight years to create

 

[George Hatch]

I write my reports from front to back, and I never divert to narrative addenda. If I don't address an issue relating to my site attributes in the site section of my report that means I didn't address it anywhere in my report. My readers never have to embark on the easter egg hunt to figure out where I addressed exposure time or HBU or anything else. They're always addressed in the same spot in every report I write. That's one alternate example of how a report form can be structured for both the writer and the reader. The current GSE variants on their 2-pg 1970s URAR are not the only way to structure a report form.


The new UAD is asking for more subject data. More data is more data regardless of the format of the printout. Just because the pdf examples were printed out in what basically looks like a narrative format doesn't mean that any (or all) of the software vendors are going to do the same with their renderings.

 

[roco22]

The Path to Nov. 2: MISMO Panelists Discuss UAD 3.6​

Uniform Appraisal Dataset (UAD) 3.6 will change how appraisal data is structured and delivered to the GSEs. Panelists at the MISMO Spring Summit in Louisville, Ky., shared advice about the transition as the Nov. 2 deadline quickly approaches.

Moderator Liz Green
Liz Green, senior vice president of valuation solutions with ServiceLink, Moon Township, Pa. and chair of the MISMO Property and Valuation Services Community of Practice committee, moderated the panel. “This is the biggest change we’ve seen in appraisal since 2005, so that’s quite a long time ago,” she said.

“From a MISMO perspective, I want to set the stage of what this means for us as not only a community of collaborators, but also the impact that it has on the industry,” Green said. “I’m very passionate about the game-changing effect that MISMO’s vocabulary is going to have on the process of appraisal.”

“In particular, the enumerated data points are the lifeblood of our standard,” Green said. “We have so much information that today bubbles up into the appraisal report in addendums, in free-form narrative, in addition to the six pages of the standard forms that are used today that have some structure to them and a MISMO dataset that goes with them. But what’s really exciting is that–regardless of the location of the subject property or the appraiser–the common language will be immediately available to everyone through this process.”

Green said the immediate availability of the common language cannot be overstated. “This initiative, obviously, is massive,” she said. “It has required the engagement and investment of everyone: software providers, lenders, appraisers, appraisal management companies, and the list goes on. We’ve all had to work together to work toward getting this ready for implementation.”

The implementation process is just beginning, Green added. “We’re in broad adoption right now,” she said. “That started at the end of January, and I’m happy to say that my company, ServiceLink, to date has delivered 137 live UAD 3.6 reports so far. We’re really excited about that. We’ve invested heavily in our training of not only our staff, but our appraiser partners as well as working closely with our lender clients and our integration partners.”

Rachel Robinson, chief operating officer with True Footage, Dallas, noted she is excited about the change. “We’ve lived in a world where the forms we’ve been working with are full of paragraphs of whatever information an appraiser feels like sharing with us, which is a challenging space to live in when sitting in the lender seat, trying to figure out what exactly we have from an information perspective.”

“What does this tell us about the property, and how do I need to think about this in terms of revisions and repurchases?,” Robinson continued. “That’s a difficult world to navigate. So, having a structured data set with very specific enumerations–a very specific quantifiable data set that allows us to really think through risk decisioning in a different way and prevent a lot of those revisions and repurchases–that’s something we’re all excited about. I’m very proud of everybody who’s worked on this for so long for coming up with something that I think is going to be a lot more usable. I want to really make sure we highlight how functional and amazing this data set is.”

Looking at UAD 3.6 from the secondary market perspective, Erin Dee, chief operating officer with Interlinc Mortgage Services, Houston, and former president of the Texas Mortgage Bankers Association, Austin, said more data and more consistent data is very helpful, “because that’s more that will pass along to the investors. That provides more certainty to investors, which could ultimately pass through to a better price when they have more certainty and less risk. That, and not having to read pages and pages of addendums. I will say, as a consumer of appraisals, that I’m looking forward to that.”

Dee noted there is still some confusion about UAD 3.6 in the lending community. “And I am being told that appraiser attrition is going to be a problem. I was given an estimate that roughly 10% of appraisers could just opt out and retire or not do this, so that’s going to affect our landscape.”

The Path to Nov. 2: MISMO Panelists Discuss UAD 3.6 - MBA Newslink

Uniform Appraisal Dataset (UAD) 3.6 will change how appraisal data is structured and delivered to the GSEs. Panelists at the MISMO Spring Summit in Louisville, Ky., shared advice about the transition as the Nov. 2 deadline quickly approaches.

newslink.mba.org

servicelinks, eh ?

Liz......“It has required the engagement and investment of everyone: software providers, lenders, "APPRAISERS", appraisal management companies, and the list goes on. We’ve all had to work together to work toward getting this ready for implementation.”

Appraisers? Active residential appraisers or used to be appraisers, like those at Service Link past & present.