Uad Instruction For "stories" Box

[residentialguy]

I'm wondering if FNMA has put out any instructions on the number that appraisers are to put in for stories. I see in the UAD field D that they use 1.75 as an example and the fact that they have 2 decimal places to utilize would tell the appraiser with any common sense that you put a Cape COD as as 1.5 story, not a 2 story. The top story is 1/2 the size of the main level below. Duh! That said, common sense is not so common with appraisers...and if they see a house with a 1/4 story on top, they put down that it has 2 stories in the UAD box.

Any instruction out there on this?

 

[Mike Kennedy]

top of page 16 IMPROVEMENTS

_______________________________________________________________________________________________________________________
UAD Appendix D: Field
-Specific Standardization Requirements Page 16 of 43 Document Version 1.6
Field - Specific Standardization Requirements
Improvements Section
Forms Requirement or Instruction
# of Stories
The appraiser must indicate the number of stories for the subject property. Do not use
any designators or descriptors, such as ‘1 story’ or ‘one story and a half.’

# of Levels
The appraiser must indicate the number of levels for the subject unit. Do not use any
designators or descriptors, such as ‘1 level’.
Reporting Format:
# of Levels –
Numeric, whole numbers only

https://www.fanniemae.com/content/technology_requirements/uad-specification-appendix-d.pdf

 

[residentialguy]

top of page 16 IMPROVEMENTS

_______________________________________________________________________________________________________________________
UAD Appendix D: Field
-Specific Standardization Requirements Page 16 of 43 Document Version 1.6
Field - Specific Standardization Requirements
Improvements Section
Forms Requirement or Instruction
# of Stories
The appraiser must indicate the number of stories for the subject property. Do not use
any designators or descriptors, such as ‘1 story’ or ‘one story and a half.’

# of Levels
The appraiser must indicate the number of levels for the subject unit. Do not use any
designators or descriptors, such as ‘1 level’.
Reporting Format:
# of Levels –
Numeric, whole numbers only

https://www.fanniemae.com/content/technology_requirements/uad-specification-appendix-d.pdf

That's not instructing the appraiser on what a story is. To some, it's another story regardless of size

 

[Mr Rex]

Most Cape Cods have dormers on the front so they are larger than 1.5 stories.

 

[Mike Kennedy]

NY, NJ, & NEW ENGLAND - CAPE COD - 1 story, 1.25 story, 1.5 story, 1.7 story - typical.

 

[Mike Kennedy]

That's not instructing the appraiser on what a story is. To some, it's another story regardless of size

more than 1 story in fannie-speak = 2 story house in box. Explain in comments the actual style and # stories.

 

[residentialguy]

more than 1 story in fannie-speak = 2 story house in box. Explain in comments the actual style and # stories.

Source? Maybe you should re-read my OP. The UAD example states 1.75. ...the fact that they have 2 decimal places to utilize would tell the appraiser with any common sense that you put a Cape COD as a 1.25 or 1.5 or 1.75 story, not a 2 story.

 

[Deleted member 134708]

"Your number of stories varies significantly from your peers' model. Please conform to your peers even when they are wrong. You are messing our database up."

Not-sincerely. FNMA CU.

 

[timd354]

Source? Maybe you should re-read my OP. The UAD example states 1.75. ...the fact that they have 2 decimal places to utilize would tell the appraiser with any common sense that you put a Cape COD as a 1.25 or 1.5 or 1.75 story, not a 2 story.

In the markets in which I used to work, Cape Cods are typically 1.5 or 1.75 stories and should be reported that way

 

[Michigan CG]

A full 2 story home has 2 levels of improvements. A cape COD has two levels of improvements. A 1.5-story home has two levels of improvements. They are all two-story homes.