UAD 3.6

[Mejappz]

10 AMCs dominate the market and hybrids will soon be the dominate form.

They are no longer AMCs; instead, they have transformed into appraisal firms similar to those from the Eapeit days.

 

[incognito]

Many field appraisers provided input into UAD 3.6 over the past years.

There are no new forms - the very concept of forms has been eliminated.

Samples of output for various property types have been posted on the GSEs' web sites for a long time.

https://sf.freddiemac.com/docs/pdf/uad-sample-scenarios-combined.pdf

There is also several hours worth of free training.

https://learn.sf.freddiemac.com/tut...5MTAkbzEyOSRnMSR0MTc0NzMyOTIxNSRqNTUkbDAkaDA.

The UAD pages Freddie and Fannie have lots of resources.

Uniform Appraisal Dataset

A joint GSE effort to enhance appraisal data quality and consistency and promote the collection of electronic appraisal data.

sf.freddiemac.com

Uniform Appraisal Dataset | Fannie Mae

The UAD and Forms Redesign initiative will leverage extensive stakeholder input to update the appraisal dataset, align it with the industry-standard MISMO® Reference Model Version 3.X, and overhaul the uniform appraisal forms to establish a more flexible, dynamic structure for appraisal reporting.

singlefamily.fanniemae.com

Thanks for your reply. I have not been keeping up. Sounds like it may be a good solution, so I will stay posted...

 

[chad hampton]

Taking a McKissock class on the new forms. Figure I need to renew my license another few times so I picked this continuing ed class. What a mistake. I have no clue wtf they are talking about. It’s pretty clear no working appraiser had any input to this new system.

I see a lot of cells being left blank.

 

[Tom D]

It's a light home inspection report where these micro items are taking our time to imput, but will have no influence on the marco value.

I have looked at those new reports. Don't see doing them any enjoyable way. All check box have to be checked yes or no, then extra drop downs may appear. There is to much emphasis on rooms materials and conditions.

The material and condition comments on rooms is for what other real purpose.

 

[Joe Flacco]

The form looks designed to input the information on site on your mobile device. Looks like it is designed to go room by room during inspection filling out the form and taking photos with your device as you go.

 

[Joe Flacco]

I'm pretty sure they are setting up the software so that anybody with the app on their phone can go through the house and fill out the information and take photos step by step.

 

[Tom D]

So you all are gonna sign the report on the parts where you didn't do the inspection. And if yes, you all think our fee is heading in what direction.

So less pay, but more volume. Not with the current appraiser surplus.

Its gonna be a AMC factory staff appraiser job, cause they will have the volume.

 

[jay trotta]

It's a light home inspection report where these micro items are taking our time to imput, but will have no influence on the marco value.

I have looked at those new reports. Don't see doing them any enjoyable way. All check box have to be checked yes or no, then extra drop downs may appear. There is to much emphasis on rooms materials and conditions.

The material and condition comments on rooms is for what other real purpose.

You would think after all these years they would know. the day after the report/closing the materials/condition/additions & alteration can take place.....why change the forms, it does not stop human actions after the fact.

Guess we know now where all the grant money is going from the big suppository factory......

 

[chad hampton]

Seems like a mini home inspection. Surprising since USPAP doesn’t require an inspection.

 

[Alsie35]

Right now, with NO ONE having had the opportunity to try out the software (because none of the providers have it ready), it could turn out to be everything from just a major headache - to an extinction-level event for independent appraisers.

No one knows where on that spectrum it will fall (including FANNIE, no matter how much they try putting out a positive spin on it).

The unintended consequences are myriad and potentially multi-fold (from being just a major short term headache for appraisers to triggering a system-melting-monkey-wrench that forces FANNIE to backtrack and push back the implementation date).

The pushing back of the implementation date seems to me a likely eventuality - but what do I know?

The implementation troops are, true-to-form for, well, HUMANS, spinning furiously and excitedly right now because - well, they set the kickoff date, its almost upon us, and so everyone up there is lockstep in assuming it will go off in manageable fashion. A "disturbance in The Force" tells me, however, that there are gonna be a lot of bugs in the short term.

To paraphrase Lee Elia in a completely different context: "Its a disheartening ****ing situation we are in" (as appraisers). All we can do is wait. Kinda like waiting to parachute into the darkness on D-Day in 1944 - or is it into Crete in 1941? (The outcomes of those two air operations were VERY different, BTW). No one knows.