Tagged: Uniform Appraisal Dataset

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If You Want to Stop Crime, Make it Against the Law!

If you want to stop crime, make it against the law! It is this type of thinking that has made it increasing difficult for honest appraisers, while providing a buffer for the true criminal that seeks to manipulate the system. Is it really as simple as the best appraiser is the one who is always on time, always fills out the form according to UAD, and never strays from a Fannie Mae guideline? The report reads clean, passes review and never makes the slightest ripple when place in the loan pool, so how could it be wrong?

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For Clarity Sake

Once again I find myself harping on the original intent of USPAP. The purpose of the Uniform Standards of Professional Appraisal Practice (USPAP) is to promote and maintain a high level of public trust in appraisal practice by establishing requirements for appraisers. It is essential that appraisers develop and communicate their analyses, opinions and conclusions to intended users of their services in a manner that is meaningful and misleading. (quoted from the Preamble of USPAP). Why is it then that GSE’s can then dictate forms, like the MC Addendum (or affectionately known as the Market “Confusion” Addendum)?

Fatal UAD edits 0

USDA Adopts Uniform Appraisal Dataset (UAD)

The US Department of Agriculture’s (USDA) Rural Development announced that the Uniform Appraisal Dataset will apply to the Single Family Housing Section 502 Guaranteed and Direct Loan Programs effective January 1, 2012. The purpose of this Administrative Notice (AN) is to announce the USDA Rural Development Single Family Housing Section 502 Guaranteed and Direct Loan Programs will adopt the new Fannie Mae and Freddie Mac Uniform Appraisal Dataset (UAD) effective September 1, 2011. To allow sufficient time to make any necessary data system changes, the requirements of this AN will be mandatory for all appraisals completed on or after January...

VaCap Letter to VA Regarding UAD 1

VaCap Letter to VA Regarding UAD

Concerns regarding the decision of the VA to adopt UAD William Stewart Department of Veterans Affairs (VA) October 21, 2011 Dear Sandy, As president of the Virginia Coalition of Appraiser Professionals I wish to express to you our members’ deep concern regarding the decision of the VA to adopt the Uniform Appraisal Dataset (UAD). Our association has been active in our state regarding this issue and we feel this idea will only harm the quality of appraisals that our Veterans will receive in the future. It is for certain that the homeowner or new purchaser will not understand the appraisal...

UAD Reader alamode 0

UAD Reader to Manage XML Appraisal Files

Free UAD Reader to Manage XML Appraisal Files UAD (Uniform Appraisal Dataset) is the appraisal format designed and required by Fannie Mae and Freddie Mac, and adopted by FHA and VA. All GSE-destined appraisals as of September 1st, 2011 must be in strict UAD format. FHA and VA have announced they will both require UAD after January 1st, 2012. How do you open and read an appraisal file in the newly required “UAD” MISMO 2.6 XML format? a la mode UAD Reader is a free tool that lets anyone work with any appraisal in the new UAD MISMO 2.6 XML...

VA adopts UAD 1

VA Adopts Uniform Appraisal Dataset (UAD)

Fee Appraisers are reminded that completion of the data fields of the appraisal report does not relieve them of the duty to provide adequate explanations in the addendum to provide clarity and justification. Veterans Benefits Administration Department of Veterans Affairs Circular 26-11-14 September 26, 2011 UNIFORM APPRAISAL DATASET (UAD) Purpose. The purpose of this circular is to announce the adoption of Uniform Appraisal Dataset (UAD) compliant appraisal reports for Department of Veterans Affairs (VA) Loan Guaranty Program purposes. Effective Date. Effective immediately, VA fee appraisers may, as an option, use UAD compliant versions of the forms. Effective January 1, 2012,...

VA & UAD compliance 0

VA Will Not Require UAD Compliance

The US Department of Veterans Affairs (VA) announced that it will not require Uniform Appraisal Dataset (UAD) compliance for appraisal reports on VA backed loans. As of September 1, 2011, VA will accept, but not require, UAD compliant reports; it is preparing a circular with more information on this issue in the very near future which will be posted online.

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DartAppraisal.com Offers Checklist for Uniform Appraisal Dataset (UAD) Compliance

TROY, MI — (Marketwire – Sep 7, 2011) – Residential appraisers seeking to fulfill requirements of the new Uniform Appraisal Dataset (UAD) will find the new UAD checklist available from DartAppraisal.com to be a helpful tool in compliance. The UAD checklist, available here, contains a quick reference of information required for UAD-complaint appraisals, including 38 specific line instructions and nearly 50 common abbreviations. Checklist categories include Timeframes, Location Factors, View Factors, Sale Type, Financing Type and more. DartAppraisal.com recently announced its full coordination of efforts in compliance of the UAD to properly manage appraisals (1004 URAR, 1073 Condo, 2055, and...

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DataMaster Releases Beta UAD Compliant Version

DataMaster has recently released a beta UAD compliant version, called DataMaster Plus. With the new DataMaster Plus, all of the imported information is “UAD compliant” and in the proper format. No need to translate MLS data to meet the UAD standards. DataMaster Plus does this automatically. To learn about DataMaster Plus and its features, register for the webinar. The webinar includes: Brief overview of UAD. How DataMaster handles the UAD requirements. How to customized your DataMaster to fit your requirements. How to build profiles for different lenders and clients. DataMaster is offering a free 14 day trial and is available...

Tutorial webinar video 0

UAD Tutorial for WinTOTAL or TOTAL

Step by Step UAD Tutorial for WinTOTAL or TOTAL With the UAD deadline coming up on Thursday, a la mode recently released a 40 minute video tutorial showing step by step instructions for each UAD fields. In an effort to enhance appraisal data quality and consistency and to promote the collection of electronic appraisal data, Fannie Mae and Freddie Mac (the Government Sponsored Enterprises or GSEs) have developed the Uniform Appraisal Dataset (UAD). The UAD modifies 4 of the industry standard appraisal reporting forms: the URAR, the Individual Condominium Unit Report, the Exterior Only Residential Inspection Report and the Exterior Only...

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