UAD 3.6

[J Grant]

IMO, a large reason behind the new forms is that they have simple one size fits all level of a 1004 (or equivalent ) and from there, whether it is a destkp or a 1004 hybrid or a 1004 where appraiser inspected is a matter of some check boxes and perhaps a drop down section - thus when these loans are sold to investors, they appear equivalent for the valuation - kinda like how they used to bundle A, B and C credit loans together to be sold -

 

[glenn walker]

How many on AF over the year's continuously asked What Form do I use ?

This ends that question so even the dumbest of dumbest of the Gumps don't have to irritate everyone....lol

 

[J Grant]

How many on AF over the year's continuously asked What Form do I use ?

This ends that question so even the dumbest of dumbest of the Gumps don't have to irritate everyone....lol

Not many, aasked and for those who did - (for no good reason ) one wonders why they were hired - self explantory since most of them were newbies and doing AMC orders -

 

[cpursley]

I'm not sure what to make of the new UAD "form". But coming from commercial, I never thought about an appraisal as form filling.

 

[glenn walker]

Not many, aasked and for those who did - (for no good reason ) one wonders why they were hired - self explantory since most of them were newbies and doing AMC orders -

Not true there are three on here who regularly ask, but one just seems to like attention. Lol

 

[Terrel L. Shields]

I am looking forward to at as much as getting a root canal -

Well, if your tooth hurts bad enough...

 

[J Grant]

Not true there are three on here who regularly ask, but one just seems to like attention. Lol

I doubt that three appraisers asking caused FF to spend years making a new form - it is one master document and the appraiser must choose the drop-down sections ( condo or SFR etc ), so the same souls who were confused before will continue to be -

 

[glenn walker]

I doubt that three appraisers asking caused FF to spend years making a new form - it is one master document and the appraiser must choose the drop-down sections ( condo or SFR etc ), so the same souls who were confused before will continue to be -

Not three appraisers lol-- they changed the form to get more data and conformity and to expand the use of different product's like hybrids and new ones can be added in easily.

As thing's become more automated in the lenders office's, underwriting won't have to deal with appraisals as much.

Just like when the Fannie DE Underwriters system's eliminated much of the Manual Underwriting they used to have to do.

 

[sputnam]

Keep in mind that the new, dynamic appraisal form is Fannie/Freddie. Non conforming lenders (and thus the appraisers) are not required to adopt it. Many will.. and it's certainly simpler for appraisers to only have to use one way to write a report.

 

[George Hatch]

One thing about appraisal report content is that there exists a point of diminishing returns. Where adding more detail and explanation exhausts the reader. The CG narratives can sometimes get to that point - so much that probably most readers skip most of the one-size-fits-all boilerplate unless it's relevant to the property type. I know how to write, but due to the nature of my work and client base I rarely have occasion to write a long-form narrative.

My point being that many other users who are not engaged in data-mining might prefer to stick with the shorter report formats for their ease of use.