We know everybody has been anxiously counting down the days to the start of UAD 3.6 Limited Production on September 8th. We’re gratified so many of you have been working to stay informed, by attending our webinars, speaking with our staff, and taking CE courses on the new UAD. Hundreds of you even signed up for our UAD 3.6 development preview, trying out the new dynamic URAR in Appraise-It Pro and giving us your feedback.
Though our development team has put in an extraordinary amount of effort since the UAD 3.6 specification was published in the spring of 2023, we need a little more time to finalize our initial release.
On September 8th, we will expand our private development preview into a public preview, releasing the new dynamic UAD 3.6 reports to all Appraise-It Pro users. You’ll be able to open them up alongside all your existing reports and start getting familiar with them, though you won’t be able to create MISMO 3.6 XML quite yet.
As soon as we have obtained our vendor verification from the GSEs, confirming our XML and PDF output complies with the UAD 3.6 specification, we will release another update that allows all Appraise-It Pro users to generate UAD 3.6 output. We hope to have that available to you by the end of September, at which point you’ll be able to accept UAD 3.6 orders from any early adopter clients.
This will mark the beginning of our public beta period, and in the following months, we’ll continue to roll out updates and features for the new UAD reports as quickly as we have them ready for you. You can review our projected UAD 3.6 roadmap here.
We know how important it is to you to have access to the new UAD 3.6 as soon as possible, so you can feel comfortable and confident when that first UAD 3.6 order appears in your inbox. We’re doing everything in our power to get updated software in your hands so you can be ready.
Thank you for choosing SFREP as your appraisal software partner during this pivotal time for our industry. We don’t take your trust in us lightly.
Best regards, Remington Jones Chief Executive Officer Software for Real Estate Professionals, Inc.
P.S. Here are some answers to frequently asked questions we’ve been hearing about UAD 3.6. If you have more, please don’t hesitate to contact us.
What can I do to prepare for UAD 3.6?
Take a look at the materials Fannie Mae and Freddie Mac have published on their UAD websites. Appendix D-1 contains sample scenarios that show off how the new dynamic URAR can handle single family, 2-4 unit, condo, manufactured, and co-op assignments. (Note they are not representative of “real” appraisals – they’re just meant to demonstrate the new report’s flexibility.) Appendix F-1 provides guidance on how to write the new URAR. They have also published a free 4-hour training session that goes over the dynamic reports and new dataset.
Once you install the public preview of the new URAR in Appraise-It Pro, try recreating some of the GSEs’ sample scenarios in it to help familiarize yourself with the new report structure. We’ll be including prepopulated sample scenario report files to give you a starting point. You could also try rewriting some of your existing reports in the new format, or performing an appraisal of your own home as practice.
CE is also available from all major providers on the new UAD.
Do I have to “go mobile” for UAD 3.6?
Using a mobile data collection app in the field isn’t a requirement of the new format, but it may streamline your workflow. Today, you can use Inspect-a-Lot to get used to a mobile workflow with your existing assignments. Moving forward, we will have a new mobile solution for you that will work with both existing report types and the new URAR, but we’ll also have resources to help appraisers adapt to UAD 3.6’s requirements if they aren’t ready to hang up their trusty clipboard just yet.
Will UAD 3.6 be in Appraise-It Classic?
Unfortunately, it wasn’t possible to build our advanced new dynamic report engine into Appraise-It Classic’s older framework. You’ll need to move to Appraise-It Pro – keeping access to all your existing reports, databases, and so on, but also gaining new features like the dynamic UAD 3.6 reports.
Appraise-It Pro is already included in your subscription at no extra charge, and you can download and install it side by side with Appraise-It Classic while you transition.
SFREP now offers custom-built websites designed specifically for appraisers and no tech skills are required. Whether you’re looking to boost your online presence or simply streamline how clients reach you, we’ve made it easier than ever.
Simple Pricing Websites are just $25/month when added to Silver or Gold service plans. Better yet, they’re included at no extra charge with the Appraise-It Pro Platinum plan. Setup is completely free, and you won’t pay a thing until your site is finished and live.
We Handle Everything No need to struggle with web design or content. After some short email back-and-forth and some information provided by you, our team will design your site and write your content for you. Prefer to provide your own copy? That works too. Throughout the process, you’ll work one-on-one with SFREP Communications Director Matt Johnson, your dedicated contact via email or text.
Professional Details Included
We’ll register a new domain for you or move your current domain to our servers—so you can stop paying for separate hosting.
Already have a logo? Great—we’ll use it. If not, we’ll apply a clean, professional design from our library of generic logos.
A built-in contact form ensures leads go straight to your inbox.
Need changes later? Just email Matt.
Ready to Get Started?
Visit websites.sfrep.com to choose a template (we can even walk you through it over the phone). Then fill out the online web form so we can get started.
Your new professional website is just a few clicks away!
FNMA and FHLMC have published new guidance around market analysis in an effort to increase consistency and clarity. FHLMC’s goes into effect for reports dated on or after February 4, 2025, and FNMA’s goes into effect for reports dated on or after March 1, 2025.
Definitions Updates
Two terms now have standardized definitions:
neighborhood: a congruous group of complementary land uses
market area: the geographic region, for a subject property, from which most demand comes and in which most of the competition is located
Market Condition Adjustments
The GSEs are emphasizing the importance of analyzing comparable sales for any changes in market conditions between the contract date of the comparable sale and the effective date of the appraisal report, pointing out that a market condition adjustment for a particular comp may differ from the overall market trend.
For example, your market may have fluctuated up and down over the past 12 months, and averaged a 3% increase overall. However, a comp that sold six months ago may have been at a market peak and a comp that sold three months ago may have been at a market trough, so a 3% adjustment may not be supportable for either of them.
The GSEs expect supportable time adjustments, backed by evidence provided by commonly acceptable practices such as paired sales, statistical analysis, home price indices, or modeling. Appraisal reports should include an explanation for the reasoning behind any adjustments (or lack thereof). There is no specific requirement for particular charts or graphs, but graphical figures may help illustrate your support.
What do I do?
If you are already including explanations and support for your adjustments, you are already addressing the GSEs’ concerns.
If you haven’t been making supportable market conditions adjustments, or aren’t sure your support is adequate, we have some resources to help you. We can’t make any one-size-fits-all recommendations, or tell you exactly what you need to do — every market is different, and only you can determine what works best for you — but we can offer some general advice and suggestions.
If you could use a refresher on performing market analysis and deriving supportable adjustments, continuing education courses are available online from providers like McKissock and Appraiser eLearning. Other resources for self-education are also available online: for example, George Dell, SRA, MAI, ASA, CRE has published relevant webinars on his Valuemetrics Appraiser Education YouTube channel, and Jim Amorin, CAE, MAI, SRA, AI-GRS, ASA, CDEI has published an in-depth article on supporting market conditions adjustments on his LinkedIn account.
Our Market Analysis Service can help you identify trends in your market via MLS data. If you need further help calculating market adjustments and supporting your conclusions, there are many third-party tools available that specialize in this area. Aloft, Spark, DataMaster, and Appraiser Genie integrate with Appraise-It Pro to transfer data into your report for you. Others, like Synapse and GandySoft, don’t integrate directly with Appraise-It Pro, but you can insert their output into your report addenda manually.
Once you know what your adjustment(s) should be, slash commands offer a quick and easy way to insert individual adjustments throughout your comparison grids, and Appraise-It Pro v.3.3 introduces a new date of sale/time adjustment calculator panel – go to Support and select Check for Updates to ensure you’re up to date.
Once your adjustments are entered, our Adjustments Sensitivity Analysis tool is included with Appraise-It Pro and can help demonstrate your adjustments are appropriate.
The Adjustments Sensitivity Analysis tool in Appraise-It Pro
For more information about the GSEs’ guidelines and guidance, see:
FNMA Selling Guide announcement SEL-2024-07, Appraisal Market Areas
FNMA Selling Guide section B4-1.3-03, Neighborhood Section of the Appraisal Report
The real estate appraisal industry is about to experience a significant transformation. Fannie Mae and Freddie Mac have jointly unveiled an ambitious overhaul of the Uniform Appraisal Dataset (UAD) to modernize and streamline the appraisal reporting process.
Though this new version of UAD has been colloquially called UAD 2.0 by many in the industry, it is officially versioned as UAD 3.6.
Let’s dive into the details of the new UAD and its impact on appraising.
What’s changing?
A lot.
The familiar lineup of individual numbered appraisal forms (such as the 1004, 1073, and 2055) is going away. Instead, the new Uniform Residential Appraisal Report (URAR) arrives as a flexible, intelligent report. It dynamically adapts based on property characteristics, eliminating the need to select property-specific forms up front. Whether it’s a single-family home, condo, or other property type, the URAR adjusts seamlessly.
Appraisers will also be able to capture more granular details about the home. Each room’s condition can be reported individually, including updates, flooring, and appliances. Exterior details, including information about garages, pools and sheds, are also collected in a robust manner. Separate ratings for interior and exterior conditions provide a more complete picture.
No more additional comment addendum pages! The current reports can often be difficult to read, especially for the average home consumer. Constantly having to flip back and forth between the main form of the report and an additional comments page can be frustrating and hard to follow. The new URAR integrates commentary directly within relevant sections. Appraisers can provide insights right alongside data, photos, maps, or figures. This approach enhances the narrative flow and keeps readers from getting lost flipping back and forth between pages.
Finally, reports now open with digestible summaries of key details. The sales grid dynamically emphasizes useful comparative information between the subject property and comparables. Similarities and differences become transparent at a glance.
When is this happening?
In some ways, it’s been happening for years already. In 2018, Fannie Mae and Freddie Mac initiated a feedback program with all stakeholders in the mortgage industry, from lenders to appraisal management companies to software vendors, to explain their goals with the new UAD and gather input from concerned parties. After years of work and back-and-forth with this advisory group, they published the initial specification for UAD 3.6 and the new dynamic reports in the spring of 2023. Since then, all of the technology partners in the industry have been working to develop and implement all the changes this effort requires.
The GSEs have already begun initial testing of the new URAR with software vendors, with that testing period running through Q4 of 2025. On September 8, 2025, a “limited production” phase will begin, where some appraisers will complete some assignments for select lenders using the new dynamic report rather than the legacy numbered forms. “Broad production” will begin on January 26, 2026, at which point any lender can issue an order for a UAD 3.6 report; the old and new UAD standards will exist alongside one another during a transition phase, until the industry and the GSEs are confident all the kinks have been worked out.
Beginning on November 2, 2026, all lenders must use UAD 3.6 for new orders, though existing UAD 2.6 appraisals may still exist in the pipeline. By May 3, 2027, all UAD 2.6 reports will have cleared the pipeline and the legacy numbered forms will be completely retired.
When developing the requirements for the new UAD, Fannie Mae and Freddie Mac also worked with their colleagues at the Federal Housing Administration (FHA) and the Department of Veterans Affairs (VA) to ensure UAD 3.6 addressed their needs as well. FHA and VA both anticipate adopting the dynamic URAR after the GSEs do, though they have not announced a specific timeline for the change.
Why does it matter?
The UAD redesign and new URAR simplify the appraisal process, enhance data accuracy, and, perhaps most importantly, improve readability for lenders and homeowners.
In 2009 and 2010, the original UAD was developed to make appraisal reports easier for computers to parse by collecting more standardized data in the 2005 Fannie and Freddie forms, allowing increased accuracy and speed in review and data processing. A computer readable and parsable XML (eXtensible Markup Language) would be delivered to the client in the MISMO data formatting standard along with a human readable PDF file.
The problem was that the PDF file, with its new UAD abbreviations and formatting used to squeeze more information into the existing fields designed for plain text, was very close to gibberish to the general human consumer. A UAD abbreviation addendum was included but this caused frustration for the client. Now they had to flip back and forth between both the additional comments addenda and the UAD abbreviations addendum to decipher the full report.
The new UAD addresses this by collecting the same data as the previous version while creating a more narrative, easier to read PDF version of the report that’s much more human friendly. It also frees the appraiser from having to learn and use cryptic abbreviations, punctuation and formatting by dynamically adding sections of the report as they are needed and collecting information in a more familiar narrative fashion.
What will this mean for my workflow?
If one thing can be said about the real estate appraisal software industry, it’s that appraisers understandably dislike any disruption to their workflow, especially changes to their software. But, sometimes, change is unavoidable. And sometimes it can even make your life easier.
No matter which software package you use to create your appraisals, your workflow is going to change.
Most appraisal software suites present the current UAD forms in a What You See is What You Get (WYSIWYG) format. This means that you see the form roughly as it will be printed and delivered, like a piece of paper, and you “type” into each field.
With the new UAD, the GSEs are leaving it up to the individual software companies as to how they will collect and present the appraisal report data. As you begin adding information into the report, new sections will appear so that only relevant information is collected.
The end result will be a very narrative appraisal report that is easy to read and understand along with the computer friendly MISMO XML data that the AMC and lender computer systems will use to parse, process and make decisions on.
And, in an effort to help reduce revision requests, the GSEs are also exposing the same validation API (application programming interface) to the software vendors that the Uniform Collateral Data Portal (UCDP) uses to check submitted reports. This means there shouldn’t be any surprise hard stops, errors, or warnings after an appraiser has submitted their report to their client – they’ll be able to validate their report against the GSE API before sending it in.
How is SFREP implementing the new UAD?
SFREP has been working directly with Fannie Mae and Freddie Mac, as have the other major software vendors, to ensure the new UAD is implemented correctly and efficiently.
Each software vendor was given the freedom to collect information and display the dynamic forms in whatever way they thought was best. We’ve made a huge effort to keep the editing process similar to form editing with the old UAD.
While some software designers may choose the “wizard” approach to collecting report information, guiding the appraiser step-by-step and not showing the final output report until the end, we’ve chosen to keep some semblance of the what-you-see-is-what-you-get presentation previously used in Appraise-It Pro.
As the appraiser begins filling out the dynamic form fields, new fields and sections will appear as needed. If they reach the end of a text field but have more to say, rather than trip over to an extended comment to continue their thought, the text field will simply expand to give them more room. The appraiser will see an approximation of the final printed report as it is built, which will aid in “report awareness” and make the transition to the new UAD familiar and easy.
SFREP also has a rigorous and extensive beta testing program planned with volunteer users to get valuable feedback and help choose the best ways to collect data and present the form. While we pride ourselves in having great user interface and program design chops, we’re not the real experts. Our users are.
A massive training and technical support program is also planned to get our users up to speed with live webinars, pre-produced how-to videos and expanded phone and chat support hours.
And we plan to do all of this at no extra charge.
No one likes change. Especially change on this scale. But with a lot of hard work, planning and help from software professionals and our peers, we’ll all come out stronger, more efficient and more profitable on the other side.
If you’re a property appraiser, you probably know the pain of carrying around a clipboard, a camera, a tape measure and a bunch of papers when you go to inspect a property. You have to write down all the data, take photos, measure the rooms and sketch the floor plan. Then you have to go back to your office and enter all that information into your computer.
It’s time-consuming, tedious and prone to errors.
But what if there was a better way? What if you could ditch your clipboard and use a tablet or an iPad instead? What if you could gather all your data in the field using a mobile app and sync it with your desktop software? What if you could save hours of work and hassle on every appraisal?
That’s what mobile appraising is all about. Mobile appraising is using tablets to collect and process data at your appraisal inspections. It’s a game-changer for appraisers who want to work faster, smarter and easier. And it’s not just a trend, it’s the future of appraising. More and more appraisers are switching to mobile appraising every day, and you don’t want to miss out on this opportunity.
Here are some of the benefits of mobile appraising:
Speed
Mobile appraising can help you speed up your workflow and reduce your turnaround time. You can enter data directly into your tablet or iPad as you walk through the property, instead of writing it down on paper. You can take photos with your device’s camera and attach them to your report. You can measure rooms with a laser device and send the data to your tablet or iPad via Bluetooth. You can sketch the floor plan with your fingers or a stylus on your device’s screen. You can sync all your data with your desktop software with a click of a button.
Mobile appraising can save you hours of work on every report. You don’t have to re-enter data or resketch plans in your office. You don’t have to scan photos or documents. You don’t have to worry about losing or damaging papers. You can finish your reports faster and deliver them sooner to your clients.
Accuracy
Mobile appraising can help you improve your accuracy and quality. You can avoid mistakes and typos by entering data directly into your tablet or iPad. You can use canned comments and checklists to ensure consistency and completeness. You can use artificial intelligence and machine learning to estimate values, adjust for features, detect anomalies and provide evidence. You can use GPS and geocoding to locate properties and comps.
Mobile appraising can help you produce more reliable and credible reports. You can reduce errors and omissions that could lead to revisions or disputes. You can provide more data and analysis that support your opinions. You can comply with industry standards and regulations.
Convenience
Mobile appraising can help you work more conveniently and comfortably. You can use one device for multiple tasks, instead of carrying around multiple tools. You can use apps that are designed for appraisers, instead of generic software that doesn’t fit your needs. You can use cloud storage and backup to access your data anytime, anywhere. You can use online platforms and networks to communicate and collaborate with clients, lenders, AMCs and other parties.
Mobile appraising can make your life easier as an appraiser. You can work more efficiently and effectively with less stress and hassle. You can enjoy more flexibility and mobility in your work.
Which tablet or iPad should you choose?
There are many options for tablets or iPads that you can use for mobile appraising. The best one for you depends on your personal preference, budget and compatibility with your desktop software. Here are some tips to help you choose:
Make sure it is a compact device that has a long-lasting battery and that it runs your favorite appraisal software smoothly
Some examples of popular tablets or iPads for appraisals are Samsung Galaxy Tab S7 (Android) and Apple iPad Pro 11 (iOS)https://www.cubi.casa/10-technology-tools-for-appraisers/
Consider also buying a protective case with a hand strap and kickstand (e.g., Samsung Galaxy Tab S7 Protective Casehttps://www.cubi.casa/10-technology-tools-for-appraisers/). You won’t fear any drop!
If you want a tablet that runs on Windows OS, you might want to check out the Microsoft Surface Pro. It’s a hybrid device that works as both a tablet and a laptop. Appraise-It Pro runs the full program on this tablet, so it is powerful.
Mobile appraising is not just a fad, it’s a necessity for appraisers who want to stay ahead of the curve. Mobile appraising can help you save time, improve accuracy, work conveniently and grow your business. Mobile appraising is easy to learn and adopt, as long as you have the right device and software.
If you haven’t tried mobile appraising yet, now is the time to do it. Don’t let technology intimidate you or hold you back. Embrace it and use it to your advantage. SFREP and Bradford Technologies’ mobile iPad app, Inspect-a-Lot, gives you the tools you need to take notes, sketch, and get photos in the field. When you’re done, wirelessly transfer everything into your Appraise-it Pro report. Search for Inspect-a-Lot in the iPad app store to try it today.
When it comes to predicting the future of the housing market, the most reliable factor to consider is the interest rate. As interest rates increase, so does the cost of borrowing money and the cost of buying a house. This in turn leads to a decrease in home purchases and an increase in rental payments. With this in mind, it is easy to see how the current market could potentially be affected by the summer of 2023.
It is important to note that the current market environment is ideal for buyers. Specifically, the average 30-year fixed-rate mortgage interest rate was 4.42% as of March 24, 2022. This rate has since increased by 2% in just one year. This indicates that rates are likely to remain high, or even continue to increase, in the near future.
Further exacerbating the issue is the fact that the median home sale price decreased by 1.2% year over year in February 2023, while the number of homes sold decreased by a massive 22.3%. These figures suggest that the housing market could potentially slacken even more as we approach the summer of 2023.
Nevertheless, it is important to keep in mind that the housing market is largely dependent on the economy, which is expected to recover over the coming years. The International Monetary Fund forecasts that global economic output will expand by about 5.5% in 2022, 4.4% in 2023 and 4.0% in 2024. Such growth can only be beneficial for the housing market.
One possible scenario suggests that the current trends will continue in the summer of 2023, with home prices decreasing and interest rates remaining relatively high. However, if the IMF’s prediction of a global economic recovery proves to be accurate, then the housing market could become more attractive for buyers, potentially reversing the recent trend of declining home prices.
At the end of the day, the housing market come summer 2023 will depend largely upon the strength of the global economy. If the economy continues to gain strength, then the housing market could become an attractive option for buyers once again. However, if the IMF’s predictions are wrong and the economy stagnates, then the housing market could
The lifeblood of many businesses is data. Client data, sales records, research and development notes – these are just some of the data sets that businesses large and small rely on to function on a day-to-day basis.
Mismanagement of this data can lead to all sorts of problems, which is why it’s so important to choose a reliable, trustworthy software company to help you store and manage your data.
An independent software company such as SFREP is the best choice for businesses who want to make sure their data is safe and sound.
Here’s why:
1. You can be sure your data is in good hands When you choose an independent software company, you can be confident that your data is in safe hands. These companies are not in the business of selling your data – they’re in the business of providing a valuable service to their clients. This means you can be sure that your data will be treated with the utmost care and respect.
2. You’re not subject to the whims of shareholders Most independent software companies are not publicly traded, which means they’re not subject to the whims of shareholders. This means that their number one priority is providing a good service to their clients, rather than making a quick buck.
3. You can be sure your data is secure Independent software companies are not only concerned with providing a good service – they’re also concerned with security. This means that you can be sure your data is well-protected against unauthorized access and data breaches.
4. Finally, independent software companies are usually more innovative. This is because they are not bound by the constraints of a large organization. They are free to experiment and try new things. This means they are more likely to come up with new ways to solve your problems.
We all know that sitting is the new smoking. Sitting for long periods of time is linked to everything from obesity and heart disease to cancer. So, it’s no wonder that more and more people are ditching their traditional desks in favor of standing desks. If you’re thinking about making the switch, 2023 is the year to do it. Here’s why:
1. You’ll be more productive. Studies show that standing desk users are more productive than their sitting counterparts. One study even found that workers who used standing desks for six months saw a 32% increase in productivity.
2. You’ll burn more calories. If you’re trying to lose weight, a standing desk is a great way to do it. You can burn up to 50 calories more per hour by standing, which can add up to a significant weight loss over time.
3. You’ll reduce your risk of disease. Sitting for long periods of time has been linked to a variety of health problems, including obesity, heart disease, and cancer. By standing more, you can reduce your risk of developing these conditions.
4. You’ll improve your posture. If you’re working a lot, chances are your posture isn’t the best. By switching to a standing desk, you can improve your posture and reduce the risk of back pain.
5. You’ll be more alert. Standing desk users report feeling more alert and awake than their sitting counterparts. This is likely due to the fact that standing causes blood to flow more freely through the body, providing the brain with more oxygen.
While things seem to be slowing down for appraisers early into 2023, many are hungry to learn alternative ways to expand their workload. It’s also no secret that the real estate appraisal industry has seen some big changes in recent years. Lenders and Appraisal Management Companies (AMCs) have become increasingly demanding, often requiring appraisers to complete more assignments for less compensation. As a result, many appraisers are looking for ways to supplement their income and diversify their workload.
One avenue that appraisers can explore is non-lender work. This can include appraising for private individuals, estate planning, divorce settlements, property tax appeals, and more. While the compensation for these types of assignments is often less than what you would earn from a lender, it can be a great way to add some diversity to your workload. Plus, it can be a great way to build relationships with other real estate professionals in your community.
If you’re interested in pursuing non-lender work, there are a few things you should keep in mind. First, be sure to check with your state’s licensing board to see if there are any restrictions on the type of work you can do as an appraiser. Second, be sure to brush up on your USPAP (Uniform Standards of Professional Appraisal Practice) standards, as they may be different for non-lender work. Next, be sure to market yourself to potential clients so they are aware of your services. Finally, subscribe to https://appraisaltoday.com a monthly newsletter with loads of insight on the non-lending subject and others relevant to the industry.
While the real estate appraisal industry is constantly changing, appraisers who are willing to adapt and diversify their workloads will be in the best position to succeed. So, if you’re looking for ways to supplement your income or expand your workload, consider non-lender work.
Yes, more and more everyone depends on online services. And why not, they provide information that is fast, accurate and easily accessible.
These days it doesn’t happen often, but occasionally downtime is needed for maintenance and updates. SFREP’s Status Services page is a quick and easy way to check the status of your web services.
To receive instant notifications via email or SMS (text), click “Subscribe” at the top of the Services Status webpage. Another option: while in Appraise-It, simply go to Help> Check Services Status. With the click of one button on the word “Subscribe” you are signed up.
