UAD 3.6 discussion

[Overimprovement]

Funny thing is, y’all on here have been saying stuff like that for the last 20 years, and it’s not like any of that commentary is lost on anyone else that cares to look for it.

So if this industry is dying, what is your exit plan? Or do you find contentment in yelling to the void that it’s ending?

Not a one person that cries about the industry dying has any actionable plans other than talking about it here and telling those of us that just entered “tough luck”. Chicken little you may not be, but helpful you surely aren’t.

I partially exited 2 years ago and fully exited March this year.

 

[Fernando]

If appraiser relies on a property fata report from 3rd party, appraiser still needs to verify the information.
It's still more work for the appraiser.

 

[Non Sequitur]

Unca' Non isn't the only one calling out the mess that's UAD 3.6. Here's part of a popular post on LinkedIn today:

"The trial period starts in 5 weeks (Sept 8th), and every lender is asking, "will you be able to take 3.6 orders?" Well, I'm willing to take them, but I don't think my software vendor will be ready.

AlaMode is saying they will have a "limited version" ready in September, but (for example) no invoicing, no Workfile, no Quicksource for public records until at least January 2026. No side-by-side comps view, and no Mercury delivery until April of 2026. So when lenders are asking me if fees are going to change, it is a firm "Yes" because a lot of the stuff I rely on with my software isn't going to be available so it's going to take me more time.

And it isn't just Alamode. At this point I don't think ACI, Bradford, or SFREP have anything out."

And word is the GSEs are still nitpicking things like font type, field sizes (I thought that was solved with 3.6?), and field locations (another issue I though was solved).

 

[timd354]

Unca' Non isn't the only one calling out the mess that's UAD 3.6. Here's part of a popular post on LinkedIn today:

"The trial period starts in 5 weeks (Sept 8th), and every lender is asking, "will you be able to take 3.6 orders?" Well, I'm willing to take them, but I don't think my software vendor will be ready.

AlaMode is saying they will have a "limited version" ready in September, but (for example) no invoicing, no Workfile, no Quicksource for public records until at least January 2026. No side-by-side comps view, and no Mercury delivery until April of 2026. So when lenders are asking me if fees are going to change, it is a firm "Yes" because a lot of the stuff I rely on with my software isn't going to be available so it's going to take me more time.

And it isn't just Alamode. At this point I don't think ACI, Bradford, or SFREP have anything out."

And word is the GSEs are still nitpicking things like font type, field sizes (I thought that was solved with 3.6?), and field locations (another issue I though was solved).

It will be interesting to see when the software vendors roll out the UAD 3.6 software.....the first vendor to the market witth a fully functional version will have a competitve advantage, so they are all certainly busting their rear-ends working on it.

 

[Surf Cat]

No side-by-side comps view

This, and having the grid split, not on one page is just a head scratcher. Also, no net and gross adjustments.

And word is the GSEs are still nitpicking things like font type, field sizes (I thought that was solved with 3.6?), and field locations (another issue I though was solved).

Font sizes!? The AI reviewing system's are not going to care!

 

[Non Sequitur]

It will be interesting to see when the software vendors roll out the UAD 3.6 software.....the first vendor to the market witth a fully functional version will have a competitve advantage, so they are all certainly busting their rear-ends working on it.

I hear you. But what comes first, the chicken or the egg? If there is no software ready how the heck can anyone deliver the first 3.6 report? I get this is a heavy lift but something isn't lining up. And heaven forbid an uptick in origination volume, will the GSEs blame boots on the ground appraisers for a 3.6 bottleneck? And FWIW, I don't think the software vendors are the loose nut in this mess.

 

[timd354]

I hear you. But what comes first, the chicken or the egg? If there is no software ready how the heck can anyone deliver the first 3.6 report? I get this is a heavy but something isn't lining up. And heaven forbid an uptick in origination volume, will the GSEs blame boots on the ground appraisers for a 3.6 bottleneck? And FWIW, I don't think the software vendors are the loose nut in this mess.

Obviously, there will be no UAD 3.6 reports until the software is delivered that can produce them. My guess is that it will be out prior to end of August, but maybe I am wrong.

 

[Non Sequitur]

Obviously, there will be no UAD 3.6 reports until the software is delivered that can produce them. My guess is thatr it will be out prior to end of August, but maybe I am wrong.

I agree, something will be there. But the poop rolls downhill, appraisers who are trying to deliver 3.6 reports will get hammered with problems, revisions, etc. I don't wish that on anyone.

 

[timd354]

I agree, something will be there. But the poop rolls downhill, appraisers who are trying to deliver 3.6 reports will get hammered with problems, revisions, etc. I don't wish that on anyone.

Yes, beta testers/aerlier adopters always have to sort out the initial problems, which is why I would not participate in the initial rollout if I ran a lender shop.

 

[djd09]

they are on the 8th year of the secret 3 year hybrid pilot...so dont hold your breathing waiting for three point six...this is all a distraction from the illegal waivers scheme