Updated Appraisal Standards Presentation

Description

Modernizing Residential Appraisal Reporting What is UAD 3.6? UAD 3.6 is a complete overhaul of the Uniform Appraisal Dataset and forms used in residential real estate valuation. Spearheaded by Fannie Mae and Freddie Mac, it modernizes appraisal reporting through the MISMO 3.6 XML format, enabling flexible, structured, and machine-readable data for all types of residential appraisals. Key Features Single Dynamic Report Format: Replaces multiple legacy forms (1004, 1073, etc.) with one unified, dynamic form adaptable to property complexity. Granular Property Data Fields: More precise input fields for condition, quality, ADUs, site characteristics, and more. MISMO 3.6 XML: A data-rich structure enabling better data validation and GSE integration. How will this impact Regulators and Investigators? Scenario-Based Reporting: Supports “as-is” and “subject-to” scenarios in the same report. Support for Complex Properties: Mixed-use, ADUs, manufactured housing all handled within standard structure.