UAD 3.6 discussion

[Tom D]

Why look at a video of the uad3. Just open it up and start using only 1 finger to check box input, and having 1 or 2 questions on a page that needs to be saved when answered. This alone will double your time to do a report. And it is so fric*in annoying that you may not last thru first few pages, for aggravation to set in.

 

[djd09]

Why Appraisals Are Changing​

The new appraisal reporting structure, known as the Uniform Appraisal Dataset (UAD 3.6), was spearheaded by Fannie Mae and Freddie Mac under the direction of the Federal Housing Finance Agency. The initiative has been underway since 2018.

Appraisals Will Look Very Different in the Near Future—Are You Ready?

Over a 14-month period starting in September, lenders are phasing in new appraisal reporting for all GSE-conforming loans. As appraisers adjust to the new standards, agents will be key partners in ensuring the data is accurate and complete.

www.nar.realtor

it has only taken 7 years to get to this point...

 

[djd09]

Each year, about 500,000 people in the United States try skydiving for the first time. While the leap to UAD 3.6 may not be quite as nerve-racking, some of us would welcome a little reassurance from a seasoned jumper who knows the ropes. Class Valuation is leading the way, preparing lenders for a smooth landing with a dedicated UAD 3.6 resource hub. Filled with tools, transition guides, and GSE materials, you’ll be ready to land 3.6 safely and confidently. Book your private prep course to plan your UAD 3.6 migration here…no parachute required.

Insurance Co. Investor, UAD 3.6, RON, Personal Branding Tools; TPO Product; Disaster News

“Someone posted that they had just made synonym buns. I replied, ‘You mean just like the ones that grammar used to make?’ I am now blocked.” That was sent to me by an economist; yes, they have senses of humor. Did you know that the Federal Reserve Board employs more than 500 researchers...

www.mortgagenewsdaily.com

...

 

[Fernando]

Each year, about 500,000 people in the United States try skydiving for the first time. While the leap to UAD 3.6 may not be quite as nerve-racking, some of us would welcome a little reassurance from a seasoned jumper who knows the ropes. Class Valuation is leading the way, preparing lenders for a smooth landing with a dedicated UAD 3.6 resource hub. Filled with tools, transition guides, and GSE materials, you’ll be ready to land 3.6 safely and confidently. Book your private prep course to plan your UAD 3.6 migration here…no parachute required.

Insurance Co. Investor, UAD 3.6, RON, Personal Branding Tools; TPO Product; Disaster News

“Someone posted that they had just made synonym buns. I replied, ‘You mean just like the ones that grammar used to make?’ I am now blocked.” That was sent to me by an economist; yes, they have senses of humor. Did you know that the Federal Reserve Board employs more than 500 researchers...

www.mortgagenewsdaily.com

...

Leaning UAD 3.6 is no big deal.
The problem was it really necessary? Will it help our appraising?
I see it as another money lost for appraisers just as we were force to do the 1004MC. It wastes our time and not increase our fees.

 

[Fernando]

I came to conclusion that the new form does not improve our appraising.
Real appraisers know choosing the right comps and making appropriate adjustments are the most important factors.
Too bad GSEs don't know that.

 

[J Grant]

Why look at a video of the uad3. Just open it up and start using only 1 finger to check box input, and having 1 or 2 questions on a page that needs to be saved when answered. This alone will double your time to do a report. And it is so fric*in annoying that you may not last thru first few pages, for aggravation to set in.

If we can make a first-time consuming template of each property type, it would be more doable - it seems like we will be able to in some fashion for each software offering. (I hope)

 

[Tom D]

If we can make a first-time consuming template of each property type, it would be more doable - it seems like we will be able to in some fashion for each software offering. (I hope)

You can make a template, it's so simple and obvious. But i haven't been able to go thru the whole appraisal. I started, but the slow mo checking every box, then saving, was getting to aggravating. I will eventual show how easy a template is, unless someone beats me to it. And especially since i like you JGrant, your on my good person list. But also on my nutty left list.

 

[alebrewer]

untrue. Conventional shorter-term loans in the non-conforming markets can be cheaper interest rates. I just saw one for 4.05% 10 year term. And adjustable rates are even lower. 3 year ballon.

The last mortgage I had was years ago but secondary market wanted no shorter than 15 years - and $5000 closing costs. I went with a commercial loan at 5% (just above secondary market with under $1000 in fees and a 7 year term. The fees alone made up the difference in interest rate.

You're not most Americans. The GSE's and FHA exist (in part) to provide affordable housing. The rates charged are below market because they are missing a significant portion of the default risk component - due (thanks taxpayers) to the US taxpayer.

 

[Fernando]

The extra pages on subject's characteristics are not necessary. If really needed, could be shortened.
I'm working on a report and I did the sketch first.
Then I go straight to the sale grid and get the comps and adjust. The comps I will use will have to follow lender's guidelines.
I already have idea of condition and could fill that out later and the other comments.
I'm impatient and wanted to know if I could appraise at certain value range which I already had in mind.

 

[Fernando]

It took me awhile, but I did find the comps to fit lender's guidelines and falling within my suspected market range.
It was an over improvement, but God must be on my side for being good.
A pending sale just closed yesterday! Yeah
And a listing in similar location popped up today. Yeah.
Without those two "perfect" comps, I would been stressed to the max in completing this report.
Now I can cosmetically "clean up" the report in making the comments on sales approach and go back to fill the page 1 of the subject's characteristics and rest of junk like HBU and 1004MC.
Mike would be proud of my report (I know Mike doesn't approve of how I do appraisals. And yes, I did do some appraisal "latitude" in this report which I will not mention).