Preparing Your Appraisal Providers for the September 1, 2011 UAD Effective Date

The September 1, 2011, effective date for the use of the Uniform Appraisal Dataset (UAD)-compliant forms is quickly approaching. If you haven’t already, now is the time to contact your appraisal providers (appraisers and appraisal management companies) to confirm they are prepared to begin using the UAD compliant forms. 

For successful adoption of the UAD, work with your appraisal providers to have them take the following actions:

• Download UAD-compliant software from their appraisal software forms vendor. The following appraisal form vendors have notified the GSEs that they have recently completed software updates to meet the UAD standards: a la mode, ACI, SFRep, and Bradford Technologies. Note: The Uniform Collateral Data PortalSM (UCDPSM) supports appraisal data in the XML file format from any appraisal software forms vendor that has developed its software output in compliance with the UAD Technical Specification and if the XML file is in one of the UCDP-supported formats. 
• Determine how and when your appraisal provider will deliver the appraisal data file to you to meet your business needs. Discuss how and when your appraisal providers will transfer the XML file to you. Though we encourage the use of XML files, we will accept a first generation PDF. As an important reminder, first generation PDFs require the use of a PDF data extraction service to create an XML file in one of the UCDP-supported formats. These services are offered independently of the GSEs by several organizations in the industry, including the service offered by Veros in the UCDP. The GSEs have no responsibility for, or obligations related to, the PDF data extraction services offered by any of these entities. Lenders are responsible for ensuring appraisal report data is both successfully uploaded and receives a "Successful" status from the portal for any first-generation PDF submitted to an extraction service.   

Each appraisal software forms vendor may have a different process for transferring appraisal files, so you’ll need to understand your appraisal provider’s process and any implications it may have to your existing business processes. As a reminder, uploading the appraisal data to the UCDP using an XML file is the most reliable delivery method. Once you have confirmed your appraiser is using UAD-compliant forms, you will want to start familiarizing yourself with the UAD output in your underwriting processes and testing an upload to the portal. 

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