UAD Composite Property Data Info Released to the Public
Appraisers, since 2011, the GSEs (called the ‘Enterprises’) have been collecting and analyzing appraisal data using their proprietary Uniform Appraisal Dataset (UAD) which was overlaid on four of the standard GSE appraisal forms, SFR’s and Condo’s only.
Ever since then, appraisers and other users have complained that none of that data was available. Well, now it is available, but not highly detailed down to specific properties. See below for the web site link.
Some of that data is granular down to specific Census Tracts, which appraisers seldom, if ever, use in their market analysis to determine comparable sales and their locations.
This granular Census Tract data has been used against appraisers in various research reports, with the belief that “we” are not valuing properties correctly when there is a population of minorities (primarily Black) present, or not present. Our GSE designed appraisal forms specifically say that ‘race’ cannot be considered in the analysis and resulting appraised value, but many researchers (even within the GSEss) seem to think that it is, or should be, a primary factor in the valuation decision.
Sandra L. Thompson is the Director of FHFA, the GSEs ‘conservator’ agency which took over following the financial crash in 2008. She appeared at the Mortgage Bankers Association annual convention this past Monday, Oct. 24, 2022, and made these remarks in a keynote speech to the attendees (I bolded and underlined some of the text):
You can get to this released data by clicking this link.
This is designed so that the public (and appraisers) are able to access and download various kinds of data primarily relating to SFR’s. These downloads can be used as a CSV file, PDF or PowerPoint.
Some of what this data includes may be useful as exhibits in your appraisal reports, at least for data up to the end of 2021.
- The Unbiased Reality of Census Tract Data Dump… Open Letter to FHFA - August 15, 2023
- Isn’t that Just PAVEY! PAVE Response and Marcia Fudge - August 8, 2023
- ‘Pesky’ Words. Keeping Appraisers out of Language Purgatory - July 26, 2023