Thank you to everyone who participated in NRMLA’s webinar, Navigating the New Appraisal Landscape: Forms, Trends, and Best Practices, and to our presenters John Dingeman (Class Valuation), Joe Pravettone (Atlas) and Education Committee Co-Chair Chris Downey. Here is a summary of the key points discussed.
The Big Picture: Fannie Mae and Freddie Mac’s new Uniform Appraisal Dataset (UAD) 3.6 will replace legacy appraisal forms with a single, dynamic digital report — marking the most significant change to appraisal reporting in nearly two decades.
“This isn’t a cosmetic update,” said John Dingman, Chief Appraiser at Class Valuation. “It’s a complete rebuild of how appraisals are reported.”
Why It Matters:
- One report, all property types: No more juggling multiple forms.
- Cleaner data: Standardization reduces reporting errors and review times.
- Transparency built in: Every appraisal revision is automatically logged.
- FHA adoption coming: FHA announced it will adopt UAD 3.6, with a rollout timeline expected this spring.
- No extensions: The GSEs say implementation will stay on schedule.
Key Changes:
- Dynamic formatting: The report adapts automatically for condos, manufactured homes, and multi-unit properties.
- Visuals added: Comparable sales photos are embedded in the comp grid.
- Simplified tracking: Appraisal updates and completion reports are now separate.
- Same delivery system: Reports will still be submitted through the Uniform Collateral Data Portal (UCDP) and FHA’s EAD portal.
Between the lines: Appraisers may initially need more time to adjust, but the new system promises long-term efficiency gains and fewer revision requests.
How to Prepare:
- Attend Fannie Mae and Freddie Mac’s free URAR training series to understand the new structure.
- Use available lender readiness hubs and roadmap tools to prepare systems and staff.
- Train underwriters and QC teams now to handle the new data format.
📊 ROV (Reconsideration of Value): Use Wisely
Speakers also tackled the often-misunderstood Reconsideration of Value (ROV) process, emphasizing professionalism and data-driven submissions.
Key takeaways:
- ROVs are meant to correct legitimate errors, not challenge opinions.
- National success rate: 3–5% (up to 30% when legitimate reasons are found and professionally prepared).
- Use solid evidence: relevant comps, factual corrections, MLS data.
- Tone matters — professional, not emotional.
- Only one ROV per file is permitted, so make it count.
“Focus on data, not sentiment,” said Joseph Pravettone, Chief Appraiser at Atlas VMS. “A respectful, evidence-based approach gets better results.”
The Bigger Picture: FHA’s renewed attention to ROVs and UAD 3.6 aligns with broader efforts to increase appraisal transparency, consistency, and fairness. The shift toward structured, auditable data should ultimately reduce disputes, strengthen underwriting, and enhance borrower confidence.
Bottom Line: UAD 3.6 is coming — and it’s a good thing. Expect clearer reports, faster reviews, and better communication across the reverse mortgage ecosystem. Start preparing now to stay ahead of the curve.
