What We Know About UAD

Article Updated 01/25/2024

The GSEs have released a new timeline for the release and implementation of UAD 2.0. The new timeline now extends into 2026 and gives us more details about how they want other players in the mortgage industry (like software companies) to complete their portions of the update.

This means a couple of things for appraisers – it will be late 2025 for limited production (likely with one or two lenders only), followed by a time in 2026 when the old UAD and the new UAD will exist side-by-side for a while. There is still no “drop-dead date” for when the new UAD will be required for all GSE appraisals. Take a look at the new timeline below.

Original Post Published 09/2023

Maybe you’ve heard about the UAD changes, or maybe you’ve been trying not to think about it. Either way, a la mode is here to help you stay updated, get prepared, and figure out best practices BEFORE you’re scrambling to do so. But don’t fret, you do not need to take any action right now. We just wanted to let you know what we’re doing to prepare on our end so we can be a resource to you.  

What’s happening with the UAD redesign?  

The UAD form you’re currently using is getting a big facelift and becoming a dynamic form that makes every report look more uniform. The UAD update will replace many of the individual forms you’re familiar with (such as the 1004, 1073, and 2055), by offering a new dynamic form that adapts to the data you enter. This will not only simplify the form for the appraiser and cut out unnecessary data fields, but it will also make it easier for lenders and homeowners to read.   

What are the benefits for me?  

While this update will change your workflow and require some learning, it should also have added benefits, like: 

• Streamlining the form 

• The new dynamic UAD form will prompt you to fill out ONLY the necessary fields, while completely removing irrelevant fields and sections. Doing a refi? No need for a contract section at all, then.  

• Reducing revision requests  

• The dynamic format being designed for UAD moves commentary, photos, and data fields to individual sections. That means there will be less room for the client to miss valuable information and justification that would have previously resulted in a revision request. Instead of a long separate addenda with commentary about all your discovery and intentions, you’ll be able to speak directly to the data and photo in the same section. 

How is a la mode preparing?  

Our team is currently working on our new forms to be UAD compliant to reduce as many roadblocks in your workflow as possible. We have a beta group that is giving us feedback in real time to ensure our customers are getting a user experience that is simple and intuitive.  

While the updated UAD may not be required for some time, our goal is to release our new UAD tools to TOTAL users well before UAD is required so that you can play around and get comfortable with this new workflow.  

BONUS: We’re also using this opportunity to enhance TOTAL and TOTAL for Mobile with some often-requested features that weren’t previously possible. 

How will this change the way I work?  

In short, if you can get comfortable with TOTAL for Mobile now, adapting your workflow to the new requirements will be significantly easier when UAD rolls around.  
 
Long answer, there will be new and expanded data points and photos to gather on your inspections, and trying to remember all of them (especially the dynamic “if/then” requirements) will be a nightmare. By using TOTAL for Mobile, the form will prompt you with ONLY the fields you need based on what you’ve already filled out. 

To learn more about TOTAL for Mobile, visit our training page to join one of our live webinars — We suggest the “Getting Started with TOTAL for Mobile” class if you’re new. 

What’s the estimated completion and implementation time frame?  

Below is the most current timeline from Fannie Mae and Freddie Mac.  

Will there be training?  

Of course! As we get closer, we’ll have lots of documentation, classes, webinars, and examples to share with you. For now, just relax, and stay tuned. 

01/2024 Update: You can also watch our webinars with Lyle Radke from Fannie Mae and Scott Reuter from Freddie Mac to see their answers some of the most commonly asked questions we’ve received.

How much will it cost? 

The UAD updates will be included with every level of support contract, from Silver to Elite – no one-off upgrade fees or add-ons. It’s what we did last time around, and it’s the right thing to do. 

What’s next?  

Be on the lookout for updates as we learn more about the new UAD. We likely won’t have anything more to tell you until the end of 2023, but as we have pertinent info to share, we will. Make sure to follow us on Facebook and opt into our emails so you don’t miss a thing.