uniform appraisal dataset / uniform collateral data portal

[encourage]

Has anyone heard details about the upcoming Uniform Appraisal Dataset and the Uniform Collateral Data Portal (as part of the Uniform Mortgage Data Program)? All I can find is that the Uniform Appraisal Dataset will be published in September.

 

[Jerry Bone Jr]

http://www.freddiemac.com/singlefamily/news/2010/0524_advisory.html

 

[Terrel L. Shields]

I guess we can assume that the government will continue to prop up Fannie and Freddy thru September so go MISMO go...

 

[Charlie]

The LiveValuation magazine that was recently sent out has an article written by Chuck Mureddu which states:

"Ask an appraiser in the field about MISMO and see what the reaction is- my guess is only a few really know what it is and how it will affect them. I will go even further and say some have never even heard of MISMO. I know this because I have spoken with appraisers who had no idea this was coming. I actually think some appraisers will discover it through their software providers, when new versions suddenly limit their options to standard answers for each line item. The appraiser's own standard answers that he or she has used for the past 20 years may simply not be an option anymore".

 

[Mike Garrett RAA]

We were one step ahead of the herd in that we had a two hour CE seminar on MISMO last year for our local appraiser's group (CAREA.net).

 

[RSW]

The LiveValuation magazine that was recently sent out has an article written by Chuck Mureddu which states:

"Ask an appraiser in the field about MISMO and see what the reaction is- my guess is only a few really know what it is and how it will affect them. I will go even further and say some have never even heard of MISMO. I know this because I have spoken with appraisers who had no idea this was coming. I actually think some appraisers will discover it through their software providers, when new versions suddenly limit their options to standard answers for each line item. The appraiser's own standard answers that he or she has used for the past 20 years may simply not be an option anymore".

It will be interesting to see if they put out a set of guidelines on how and what wording will be used in the appraisals.

It is my understanding that many of the AMCs will have software that will be able to convert pdfs into MOSMO on their end. I would say that appraisers will have to do it on their end for lenders that order appraisals not ordered through an AMC.