by Elizabeth Green, Director of Valuation Technologies

Since my last blog, we have been actively preparing new features to enable our clients to support the upcoming UAD and UCDP requirements mandated by the GSEs. ACI has in place a UAD taskforce and is positioned to serve as a partner to clients as they prepare to adopt the changes.

On February 23rd, the GSEs published additional materials, focusing their efforts on providing resources to assist lenders and appraisers as they prepare to implement the UAD. The new materials include:

• Training Webinar: “Using the Uniform Appraisal Dataset”
• Interactive Reference Manual: “Using the Uniform Appraisal Dataset to Complete the Uniform Residential Appraisal Report.” This is a helpful illustration of the UAD on the URAR.

These helpful training tools introduce appraisers and industry professionals to the requirements and instructions necessary to complete appraisal report forms in accordance with the UAD.

Field-Specific Standardization Requirements Version 1.1

Originally published as Appendix D, this document provides a list of standardized definitions and responses for a key subset of fields on the four UAD appraisal report forms.

Updated Questions & Answers

New Q & A’s tailored specifically to address UAD-related questions received from appraisers have been posted. The GSEs will be updating the Q & A’s frequently, so please check back on a regular basis to make sure you have reviewed the latest updates.

You can find these new materials, as well as more details on the full UAD requirements and standards, on Freddie Mac’s and Fannie Mae’s websites.

Last week I attended a “Train-the-Trainer” session sponsored by the GSEs in Reston, VA. The new materials posted in addition to the information we received will continue to shape our solutions for clients in addressing the new requirements. Please also visit our UAD page for relative news and information.