For too long, too many let the form and the check boxes drive their reports. Now the form and the UAD will drive you over a cliff. It really is at the point where you come out faster and more understandable just writing the narrative and then checking boxes and including the form as an addenda to the report. Especially if courts are going to hold us responsible for borrowers understanding the report. No where else in the world is computer data expected to be a "readable, reliable" report to anyone who does not understand computer data, except appraisals.
Remember the day when everyone complained about boilerplate?
The UAD is the cause of far more boilerplate then ever there was in a skippy report. It's boilerplate for condition, boilerplate for quality, boilerplate for date of sale, boiler plate for concessions, boiler plate for mailing addresses, boiler plate for locations, boiler plate for view, on top of the standard boilerplate. I'm sure there are 5 page reports out there that are all boilerplate now, which essentially says the report filled in the boxes to meet the requirement of somebody's super computer, but really doesn't mean anything in the realm of human understanding other than here's your number.
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When I get a call or e-mail for TT and fee I always quote a basic form filling 1004D. After review the "client" wants so many comments it might as well have been a full narritive, but I quoted a 1004. Even the AMC's with a 6-8 page "requirement list" come back and ask for more for free. If your report is credible USPAP compliant and provides a solid estimate of value, you did your job, pay me.......withholding payment for standing your ground is another topic.
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