UAD Redesign Timeline
Appraisers, to see more about the upcoming new UAD currently in design, read the Updated Timeline link in the message below.
My concern at this point is ‘training’ materials will be available in Q4 2024, but actual implementation of the ‘new reporting process’ won’t begin until Q3 2025 with limited production, into 2026.
Note that in the future “form numbers” won’t be used. Instead, the assignment instructions will be based on a scope of work for the loan process on the particular Subject property.
As someone who’s potentially interested in ‘training’ appraisers on the new process, it seems to me that providing training in Q2 2025 would be more appropriate than 6 months before. But we’ll have to see how things progress as this time-line gets more firmed up.
UAD Redesign Timeline:
For additional resources and more information about this initiative, visit our UAD webpage.
Dave Towne on e-AppraisersDirectory.com
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I sat through a 1 hr webinar put on by FreddieMac and Aloft yesterday (1/30/24). Aloft is the company which has been chosen to write and prepare all the training documents and classes for the New UAD process. The reason why ‘training’ is scheduled for later this year is so that class materials can be packaged into CE by education providers in the States and submitted for approval prior to the start of actual live or webinar classes given to appraisers. And there will be a process to ‘train the trainers’ before they will be authorized to present the New UAD material officially. This is a much better process than what was done in 2011 when our current UAD was just dropped into our laps.
Is this for a better appraisal or a more thorough way to collect data?
Why bother with all this extra work when they’re perfectly fine with issuing waivers based on little to no information? Maybe they’re secretly trying to create a national database of properties and neighborhoods. Or maybe they just have a strange obsession with making appraisers’ lives miserable. Either way, it looks like we’re in for some fun times ahead.
Well, My retirement date has been set. Time to call my financial advisor.
Thank you Dave