UAD/UMDP And Forms Update

[Non Sequitur]

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

 

[Non Sequitur]

 

[Non Sequitur]

 

[Alsie35]

 

[Carnivore]

Pretty Cool. It's not just designed for Boots on the ground Appraisers but also for the human Intended/unintended users of the report. It won't be long before non-human readers will be able to digest and analyze (content) in minute detail.

Is this another step towards eliminating boots on the appraisers? Nope, not even with Artificial Intelligence. Real Property is not static. Quite the contrary it can and is very dynamic.

 

[gregb]

View attachment 77145

Thanks NonSequ. Not to forget, even the UAD movie-

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

 

[gregb]

More from Freddie, "modernization efforts"

Collateral Valuation and Appraisal Resources

Get the latest appraisal industry news and insights into collateral-related Freddie Mac policy changes – and learn how technology and innovative risk reduction are shaping the future of appraisals.

sf.freddiemac.com

 

[Tom D]

they will always need a group of appraisers to test their avm models against. now how big that appraiser group is, and will they be employees of fannie for their own protection. it's heading to less appraisers needed, but still needed. it's just like when they test medicines.

 

[Terrel L. Shields]

They forgot 2025 > Quit doing FNMA since they'll be doing mostly waivers and AVMs anyway.

 

[ucbruin]

they will always need a group of appraisers to test their avm models against. now how big that appraiser group is, and will they be employees of fannie for their own protection. it's heading to less appraisers needed, but still needed. it's just like when they test medicines.

I remember when I was still a BofA staff appraiser in SoCal....
Around 1994/1996 we were assigned to complete appraisals (I believe for equity) and the bank ran AVM on some of the same properties....
The AVM reports seemed to exceed some appraisal guidelines....
But the AVM values weren't much different from the values provided by humans....