AMCs: Survey, How Tech Sabotages Appraisers

By on November 6, 2026   /   AMCs, appraisal business, Economic analysis, Fannie, UAD 3.6   /   Leave a comment
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Newz: Appraiser AMC Survey, AMCs: How Tech Quietly Sabotages Appraisers

November 6, 2026

ARTICLE LIST – In order, Scroll down to read

  • LIA AD: Read The Fine Print
  • Independent Appraiser Voices plus Survey: More in Common Than We Think
  • Inside a Marvel Showrunner’s $2.4 Million Topanga California Compound Featuring a 1970s Geodesic Dome and Private Oak Grove
  • Helping Appraisers Get Paid for What They’ve BuiltBy Isaac Peck, Publisher, WorkingRE
  • My Ad: Major Changes in Fannie Mae’s HBU Property Eligibility Requirements (Effective With UAD 3.6), By Denis Desaix, MAI, SRA
  • Countdown in Chicago: UAD 3.6, AI, and Rates Going Up? MBA 2026 Recap, By Jim Morrison
  • The Full Measure: October 2026 Housing Market Update, By Kevin Hecht, Appraiser and Economist
  • The Ghost in the Machine: How Tech Quietly Sabotages Appraisers, By Desiree Mehbod
  • Appraisers face stagnant pay and rising costs as AMCs defend their fees and new technology reshapes the industry
  • Mortgage Applications Decrease 1.2 Percent in Latest MBA Weekly Survey

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Independent Appraiser Voices: More in Common Than We Think and and AMC Appraiser Survey

Independent Appraiser Voices is breaking the silence on unfair AMC fees and UAD 3.6 struggles to prove that while we may work independently, we don’t have to face these industry battles alone.

Excerpts: Independent Appraiser Voices is breaking the silence on unfair AMC fees and UAD 3.6 struggles to prove that while we may work independently, we don’t have to face these industry battles alone.

If you’ve been an independent appraiser for any length of time, you’ve probably asked yourself, more than once, “How much more am I expected to take on without being compensated for it?”

Between rising business expenses, increasingly complex assignments, unrealistic deadlines, and AMC fees that often seem disconnected from the work involved, there’s plenty to be frustrated about.

And now we have UAD 3.6. We can probably all agree that the UAD 2.6 forms were due for an update, but is this really the improvement we needed?

We know these frustrations because we’re dealing with them, too. And they’re exactly what inspired Independent Appraiser Voices (IAV). BookAppraisals

IAV is a brand-new, independent grassroots initiative created by working appraisers who believe it’s time to do more than vent about these problems individually. We’re boots-on-the-ground appraisers, just like you, trying to make a living while navigating the same challenges.

There are already people around the country advocating for change in our profession, and we share those goals. We want to bring independent appraisers together, identify the concerns we have in common, and turn our shared experiences into a stronger, more unified voice.

Our first step is the 2026 Independent Appraiser Survey: UAD 3.6, AMC Fees & Industry Concerns.

The survey is anonymous and covers compensation, UAD 3.6, AMC practices, unpaid time, and other industry concerns. There’s no membership, no fee, and nothing being sold. We simply want to hear directly from appraisers across the country.

The survey is anonymous and covers compensation, UAD 3.6, AMC practices, unpaid time, and other industry concerns. There’s no membership, no fee, and nothing being sold. We simply want to hear directly from appraisers across the country.

Our intention is to use the findings to document common concerns, support advocacy for meaningful change, and encourage greater cooperation among independent appraisers. We’ll share the results with the appraisal community and be transparent about what the data does and doesn’t tell us.

To read more, Click Here

To take the survey, Click the link in the article.

My comments: The survey seems like a good idea. I always like to read the survey results. I have never worked for an AMC so did not take the survey.

Inside a Marvel Showrunner’s $2.4 Million Topanga California Compound Featuring a 1970s Geodesic Dome and Private Oak Grove

Excerpts: 4 bedrooms, 4 baths, 1,547 sq.ft., 0.76 acre lot, Built in 1935

Built in 1935, the “thoughtfully cared for” 1,547-square-foot sanctuary boasts stone pathways, footbridges, and a seasonal creek. It is located in the Post Office Tract near Topanga State Park.

“What makes this property so special is its setting within a private oak grove,” says listing agent Nina Kurtz of Compass. “It genuinely feels like having your own private park.”

That private-park feel extends across the compound, which includes a two-bedroom primary residence and additional living space.

According to public records, the four-bedroom property is currently owned by Hollywood writer and producer Andrew Guest, co-creator, showrunner, and executive producer of Marvel’s “Wonder Man.” Guest purchased the property for $2.75 million in 2022.

Expansive windows were designed to frame the lushly landscaped lot and bring the outdoors into the living spaces.

To see the listing with an aerial view and 54 photos, Click Here

My comment: I would love to live in a private Oak Grove fully landscaped with a seasonal creek, house, and a Geodesic Dome. Before the Gold Rush from 1848 to 1855 my city was full of oak trees. Over time, most were torn down and Alameda became a suburb of San Francisco, 10 miles away with access via ferry boats.

I often think of the original native inhabitants, the Ohlone, who traveled to Alameda for oak tree acorns and access to San Francisco Bay with fish and shellfish.

Our pickleball courts are in a park and used to have a large oak tree that offered shade when it was hot. A large branch broke off and fell on part of our courts. We miss the large oak branch with the shade it provided. Large umbrellas are not the sameI

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Helping Appraisers Get Paid for What They’ve Built

by Isaac Peck, Publisher, WorkingRE

Excerpts: Most appraisal shops are one-person operations. The specter of the lone appraiser running their business in a spare bedroom and not socializing much with their peers has persisted for decades — and there’s certainly some truth to it.

However, one of the downsides to a solo-operator business model, especially with service businesses like appraisal, is that when it comes time to retire, these types of businesses are rarely saleable. With no (or few) assets, no staff and little goodwill outside of the name of the principal, most solo appraisers build their businesses for decades and then simply flip the light switch and shut the door on their business.

Bryan Reynolds wants to change all that.

A certified general appraiser, partner at Appraiser eLearning, host of The Appraisal Update Podcast, owner of Reynolds and Associates, and a partner at his two newest ventures — Legacy Appraisal and Consulting and Legacy Advisors and Consulting — Reynolds is a serial entrepreneur.

His latest ventures are particularly interesting and arguably well-timed, given everything the profession is facing.

Entering and Exiting the Profession

Reynolds sees real opportunity in simultaneously helping folks enter the profession, as well as working with appraisers who are about to step back and retire.

“Our vision is to help appraisers enter the profession and exit the profession,” Reynolds says. “What do most appraisers do when they’re ready to retire is they turn their light off and close the door. Their book of business, which in many cases represents 30 to 40 years of careful nurturing, just evaporates. They don’t get paid for it or rewarded in any way. We would like to help keep their legacies alive.”

Instead of just shutting the door, Reynolds explains that Legacy Advisors and Consulting is working with appraisers to set up an exit strategy that allows them to receive compensation for the first three to five years of retirement.

“We will ask them to stay with the company for a prescribed period of time,” Reynolds says. “Then we will put someone in their market, as well as our administrative and support team based out of western Kentucky. Basically, we want to see another appraiser step in and become them in that local market.”

Reynolds’ strategy requires the exiting appraiser to remain with the company for 12 to 18 months. If they want to retire, however, Reynolds requests they call a year in advance. Several interested appraisers have already reached out.

“I just talked to an appraiser who asked me, ‘What about the VA? I’m a VA appraiser. VA selects me to do the appraisal. How can I transition this business?’” Reynolds says. “Our position is that for every problem there is a solution.

Helping Train New Appraisers, Too

Reynolds also wants to help new entrants to the profession find their feet and get started. Legacy Advisors and Consulting is also licensing Melissa Bond’s MPact Practicum coursework, a successful appraiser curriculum.

Appraisers thinking about an exit strategy, and anyone looking at the training pathway, can find more at LegacyAppraisalandConsulting.com and LACappraiserpathway.com, or email info@LACappraiserpathway.com. Reynolds can be reached directly at Bryan@theLegacyAG.com.

To read more, Click Here

My comments: When I have written about selling your appraisal business (or spoken with appraisers), I have always said the best people are those working for you. Selling a one person appraisal business seldom happens. Sometimes if you’re in a vacation location an appraiser may be interested in locating. Or, a competitor may want to purchase it.

I have spoken with buyers and sellers of appraisal businesses. It is not easy for the buyer or the seller, even if you have employees and are well established. Staying over for a transition period is very common.

Selling a Commercial may be easier than residential. Over the years I have seen many larger commercial appraisal companies that expand by buying (or merging with) other local commercial appraisal companies.

Since I have been writing about this, over time several national appraisal firms merged with other commercial appraisal firms.

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Major Changes in Fannie Mae’s HBU Property Eligibility

Requirements (Effective With UAD 3.6),

By Denis Desaix, MAI ,SRA

In the November 2026 issue of Appraisal Today

Excerpts: In September of 2026, Fannie Mae (FNMA) announced major changes in their property eligibility standards regarding highest and best use (HBU) conclusions reported in the appraisal.

I was asked by Fannie to be a Policy Advisor on this matter and had a preview of the changes that have since been announced. I say this so I can affirm, with credibility, that a lot of thought has gone into the changes and

how they affect not only the appraisal process but the entire 1- to 4-unit residential lending production process.

In this article, I will discuss the new HBU policy and review the examples that Fannie uses to illustrate how the new policy can affect property eligibility which, in turn, can affect how we analyze and report our value opinions in our appraisal reports.

Please note that these changes apply to UAD 3.6 Appraisal Assignments only!!

The impact on lending is easy to describe: Certain properties that were previously ineligible for Fannie purchase are now eligible.

The impact on appraisers is also easy to describe:

To conclude a credible HBU opinion for some properties, a deeper level of analysis will be necessary.

This is not a bad thing for appraisers as the more complex the property, the less likely an alternative valuation tool can be used

To read more about this new UAD 3.6 change, plus 2+ years of previous issues, subscribe to the paid Appraisal Today.

If this article helped you understand this Fannie change, it is worth the subscription price!

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Countdown in Chicago: UAD 3.6, AI, and Rates Going Up? MBA 2026 Recap – October 11-14, 2026

By Jim Morrison

Excerpts: he Mortgage Bankers Association Annual is always one of the best places to find out what is coming for the industry.

This year in Chicago, one topic was on almost every agenda: UAD 3.6. With the mandate only weeks away, lenders, GSEs, AMCs, and technology providers spent the week comparing notes on what is working, what isn’t, and what happens next. Add a market that still hasn’t turned the corner, a lot of conversation about AI, and a former President on the main stage, and it made for a busy few days.

Here are the sessions that matter most for lenders and appraisers. On UAD 3.6, Williamson confirmed November 2nd is still the date, but lenders that need more time can request an exception. About 25,000 UAD 3.6 appraisals have been submitted so far, roughly 10% of October volume.

Readiness Check: A Countdown to UAD 3.6

Low volume has been the biggest readiness gap. Some appraisers have been running test files on their own homes because the orders haven’t come in yet. Downing said appraisers typically see efficiency gains after three to five reports and are back on par with UAD 2.6 after about ten.

Review teams are learning too. Scarpa said his reviewers had never seen a 3.6 report and are training on the software alongside appraisers….

AI came up in almost every room. The largest lenders are leading the investment, and some are building custom models to help with review. Scarpa shared a story from another lender where a loan was nearly closed before they discovered the house was condemned and the photos had been generated by AI. Lenders now need to verify that images haven’t been altered, and appraisers need to protect the integrity of their own work.

To read more, Click Here

My comments: In the past, I went to several of the MBA National conferences as a reporter. I hung out in the reporters room with free lunch and snacks and had dinner with other reporters. It was definitely worthwhile attending as an appraiser to see what the speakers say.

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The Full Measure: October 2026 Housing Market Update

By Kevin Hecht, Appraiser and Economist

The rate is the headline. The spread is the story.

October brought a sharper version of the challenge that has defined the housing market all year: buyers are still interested, but payments are setting a hard limit on what many can buy.

Sales haven’t stopped, and prices haven’t moved in one national direction. Yet higher financing costs are giving buyers more leverage, increasing the importance of concessions, and making sellers and builders work harder to meet the market.

Topics include:

• The Mortgage Rate Is More Than a Treasury Yield

• The Fed Held, but Mortgage Rates Follow a Different Market

• The Economy Is Providing Support, But Not a Free Pass

• Existing Homes: More Choice, More Negotiation

• New Construction Has Its Own Price Signal

• Policy May Help at the Margin, But It Does Not Reset Today’s Market

For appraisers, the headline is not simply that the 30-year mortgage rate remains above 7%. The more useful question is why a mortgage rate can remain elevated even when the 10-year Treasury yield is lower.

The Appraiser’s Assignment

The market rewards an approach that is both current and specific.

• Review the financing terms and concessions, not just the sale price.

• Track whether competing listings are accumulating, expiring, or selling after reductions.

• Separate a price cut from a rate buydown.

• Identify whether new construction is competing directly with the subject or simply sharing the same broad geography.

• The appraiser’s job is not to force a national rate story onto a neighborhood. It is to determine how that neighborhood is responding to the financing environment using the best available evidence as of the effective date.

The national message is clear: the economy still offers support, but mortgage pricing is tightening the market’s filter. The local conclusion will depend on which properties still pass through it.

My comments: READ THIS ARTICLE! This is the only real estate market comments I read every month because it is written by an appraiser/economist for appraisers. You have probably had people (and clients) ask you about the topics above because you are an appraiser.

I took a economics class as preparation for my MBA classes. I had been appraising for 5 years. I was a much better appraiser after taking just the economics class. After I got my MBA I was an even better appraiser.

To read more, Click Here

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The Ghost in the Machine: How Tech Quietly Sabotages Appraisers

By Desiree Mehbod

The real estate appraisal industry is being quietly rewritten by corporate tech platforms that automate blacklisting and manipulate home values behind the scenes.

Excerpts: For anyone working on the ground in the appraisal industry today, the real estate market does not feel like a fair playing field. It feels like an automated ecosystem designed to squeeze out local expertise in favor of corporate volume. While outsiders look at recent data and express shock, those of us in the trenches know the truth: bias, exploitation, and automated blacklisting are literally hardcoded into the platforms we are forced to use every day. BookAppraisals

To understand how broken things have gotten, you only have to look at what happened to a seasoned independent appraiser out West. After years of building direct relationships with lenders, his entire workflow evaporated into thin air over a matter of days. For six grueling months, his phone stopped ringing, and no new appraisal requests came through. He reached out to a trusted lender he had done business with for years, only to receive a shocking answer: “We have been sending you work orders for months, but you never responded. We thought you were ghosting us, so we removed you from our panel.”

What actually happened was not a lack of interest or an economic downturn. It was deliberate, systemic sabotage.

The appraiser had grown tired of receiving a nonstop, daily barrage of automated AMC bid spam flooding his inbox. When he pushed back against the platform handling the communications, an employee at the appraisal tech platform retaliated by quietly changing his account’s primary email contact to an internal “noreply” address. Because the system never sent out a bounced notification, lenders genuinely believed he was ignoring them. A single unlicensed tech employee effectively deactivated a small business with a few clicks, and it took a random, autopopulated form months later for the appraiser to discover the truth.

This is not just a horror story about bad tech support. It is a window into the unchecked power that tech platforms and Appraisal Management Companies (AMCs) hold over our livelihoods.

The software running this industry is built to control and discipline independent appraisers. Take the concept of appraiser grading metrics.

Appraisers are under the illusion that their performance ratings are private between them and an individual client. In reality, bad star ratings or panel removals from a single vindictive AMC are secretly shared across wider platform networks, like Mercury via the VMP suite. It creates a permanent, hidden anchor that ruins future work opportunities with other clients, with no shelf life expiration date and zero opportunity for a fair rebuttal.

This infrastructure directly explains the numbers people are starting to notice. A recent National Mortgage Professional article highlighted a stat showing that AMC appraisals are more likely to match a home’s contract price exactly, hitting it at 26.41% compared to 22.67% for non-AMC appraisals. To a data scientist, that might look like a statistical anomaly. To an independent appraiser, it is just Tuesday. See below for more information on the National Mortgage Professional Article see below.

To read more of the article above and read the appraiser comments,

Click Here.

My comments: I remember when AMCs took over appraisal management after the 2008 housing crash. A hot appraisal topic was how to be taken off the AMCs “do not use list”. Before AMCS took over lenders managed their own appraisal lists, often for overflow from their staff appraisers. Reportedly they shared their l “Do not Use” lists.

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Appraisers face stagnant pay and rising costs as AMCs defend their fees and new technology reshapes the industry

From National Mortgage News

TOPICS:

  • Where The Appraisal Fee Goes
  • How AMCs Became The Status Quo
  • The Bidding Process
  • A New Appraisal Format, An Old Fight Over Fees
  • Who Manages The Work?
  • Outsourcing The Work Doesn’t Outsource the Responsibility
  • What Does The Research Say About Quality?

A few quotes:

“Appraisal management companies — although they’ve been around for many, many years — have morphed into this cottage industry.”

Marc Savitt, president of NAIHP and former NAMB president

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“Appraisers are just getting nickeled and dimed, and we have no way to fight back.”

Joshua Tucker, chairman and co-founder of the

Appraisal Regulation Compliance Council

To read this article, Click Here

My comments: One appraiser’s AMCs story and comprehensive analysis of Where The Appraisal Fee Goes.HOW TO USE THE NUMBERS BELOW. Appraisals are ordered after the loan application. These numbers tell you the future for the next few weeks. For more information on how they are compiled, click here.

Note: I publish a graph of this data every month in my paid monthly newsletter, Appraisal Today. For more information or get a FREE sample go to www.appraisaltoday.com/order Or call 510-865-8041, MTW, 7 AM to noon, Pacific time.

My comments: Rates are going up and down in 2026 and probably in 2027 but no one knows for sure.

Mortgage Applications Decrease in Latest MBA Weekly Survey

WASHINGTON, D.C. (November 4, 2026) — Mortgage applications decreased 1.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending October 30, 2026.

The Market Composite Index, a measure of mortgage loan application volume, decreased 1.2 percent on a seasonally adjusted basis from one week earlier.  On an unadjusted basis, the Index decreased 2 percent compared with the previous week.  The Refinance Index increased 0.1 percent from the previous week and was 60 percent lower than the same week one year ago. The seasonally adjusted Purchase Index decreased 2 percent from one week earlier. The unadjusted Purchase Index decreased 4 percent compared with the previous week and was 19 percent lower than the same week one year ago.

“Mortgage rates drifted down to their lowest level since September 2026 last week in the wake of the Federal Reserve’s decision to hold on additional rate hikes at its October meeting,” said Mike Fratantoni, MBA’s SVP and Chief Economist. “While the 30-year rate declined to 7.3 percent, activity is still quite slow, with purchase application volume down for the week and refinance volume effectively flat at a very low level. As we have highlighted in recent weeks, more borrowers are choosing ARMs in this environment to lower their initial payments, with the ARM share at its highest level since September 2025.”

The refinance share of mortgage activity increased to 39.8 percent of total applications from 38.9 percent the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 11.4 percent of total applications.

The FHA share of total applications decreased to 16.0 percent from 16.6 percent the week prior. The VA share of total applications increased to 11.2 percent from 11.0 percent the week prior. The USDA share of total applications increased to 0.6 percent from 0.5 percent the week prior.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($832,750 or less) decreased to 7.30 percent from 7.37 percent, with points decreasing to 0.75 from 0.76 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans. The effective rate decreased from last week.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $832,750) decreased to 7.20 percent from 7.28 percent, with points decreasing to 0.48 from 0.64 (including the origination fee) for 80 percent LTV loans. The effective rate decreased from last week.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 7.02 percent from 7.12 percent, with points remaining unchanged at 1.07 (including the origination fee) for 80 percent LTV loans.  The effective rate decreased from last week.

The average contract interest rate for 15-year fixed-rate mortgages increased to 6.76 percent from 6.70 percent, with points increasing to 0.98 from 0.85 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

The average contract interest rate for 5/1 ARMs decreased to 6.29 percent from 6.41 percent, with points decreasing to 1.00 from 1.20 (including the origination fee) for 80 percent LTV loans. The effective rate decreased from last week.

The survey covers U.S. closed-end residential mortgage applications originated through retail and consumer direct channels. The survey has been conducted weekly since 1990. Respondents include mortgage bankers, commercial banks, thrifts, and credit unions. Base period and value for all indexes is March 16, 1990=100.

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Ann O’Rourke, MAI, SRA, MBA

Appraiser and Publisher Appraisal Today

1826 Clement Ave. Suite 203 Alameda, CA 94501

Phone: 510-865-8041

Email:  ann@appraisaltoday.com

Online: www.appraisaltoday.com

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AMC Panel Requirements

By on October 30, 2026   /   appraisal business, Appraisal fees, appraisal how to, appraisal management company, Appraisal Software, Fannie, New URAR, UAD 3.6   /   Leave a comment
Tags: , , ,

Newz: UAD 3.6: Fees, Turn-Time, Software and more, AMC Panel Requirements

October 30, 2026

ARTICLE LIST – In order, scroll down the page to read

  • LIA AD: AMC Panel Requirements
  • UAD 3.6: Inside the Struggle Over Fees, Turn-Time and Software By Frank Andorka, Managing Editor WorkingRE
  • A Clifftop Compound With 2 Brand-New Cabins in Idaho Hits the Market
  • What is Highest and Best Use in Appraisal? (Updated for UAD 3.6) , By Kevin Hecht
  • MY AD: What Enough of UAD 3.6, I Have a Business to Run!, By Doug Smith, MBA, SRA
  • UAD 3.6: A New Era of Accountability in Appraisal Quality, By Gynell Vestal (Administrator) American Valuation Society
  • Flock Camera Blunders and the Privacy Risks of UAD 3.6, By Desiree Mehbod
  • MBA stats: Mortgage applications increased 3.4 percent from one week earlier

 

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UAD 3.6: Inside the Struggle Over Fees, Turn-Time, Software and more

By Frank Andorka, Managing Editor, Working RE

Excerpts: Editor’s Note: Since this article was written, the GSEs created an exception to UAD 3.6 implementation for sellers who aren’t able to make the full transition to the new standard before Nov. 2. The exception runs through May 19, 2027. The GSEs will also allow resubmissions of UAD 2.6 appraisal reports through June 27, 2027. As of March 1, 2027, UAD 2.6 appraisals will no longer qualify for certain appraisal-related representations and warranties relief. For more, check out our full report at workingre.com:

GSEs Create Exception for UAD 3.6 Deadline: Runs through May 19, 2027.

To read: Click Here

Nov. 2 is usually just another day on the calendar — but not this year

Timeline and Rollout

The rollout of UAD 3.6 has been hampered considerably by two problems: slow software rollouts and lenders dragging their feet. When Working RE covered Valuation Expo in Las Vegas at the end of August, the problems clearly came into view.

While most of the leading software providers received initial approval from the GSEs in late 2025 and early 2026, word on the ground at Valuation Expo (Val Expo) was that there were still plenty of bugs to work out. AMC executives privately shared that they had staff simultaneously testing all the GSE-approved reporting software so they could troubleshoot and support appraisers when they inevitably ran into problems trying to turn in assignments. Some of those bugs were being run back to the software companies in real time, with the appraiser, AMC, lender and software provider working through the problem together.

The bigger problem in August was that lenders had barely begun ordering the 3.6 appraisals at all. Rocket Mortgage staff at Val Expo said they had ordered six UAD 3.6 appraisals. Rocket originates roughly six to seven percent of all residential mortgages in the United States. Several regional AMCs reported completing exactly two assignments apiece — and in each case, one of the two was a test run the AMC had ordered itself.

Scott Reuter, chief appraiser at Freddie Mac, summed up the bind on a panel at the show: “Appraisers cannot do a 3.6 assignment unless somebody orders a 3.6 assignment.”

More Than 900 Data Elements

There were approximately 190 data elements in UAD 2.6. There are now more than 900 in UAD 3.6. Reuter says it’s easy to be overwhelmed if appraisers just hear the number, but he assures the industry that appraisers were in the room when the form was developed.

“I want to make sure they don’t just hear ‘more than 900 elements’ and worry that they won’t be able to do it,” Reuter says. “They won’t have to fill out all those data points for every property. They are never going to touch the lion’s share of them, but we wanted to make sure we accounted for every potential contingency just in case.”

Lyle Radke, senior director of collateral policy at Fannie Mae, says Fannie and Freddie hold, between the two of them, $7 trillion in mortgage debt which, since it’s backed by the U.S. Treasury, is guaranteed by U.S. taxpayers. Therefore, it stands to reason collecting more data than before is important.

“From that perspective, the data is essential,” Radke says. “It’s how we manage risk. UAD 3.6 makes it easier for us to see and understand the data. If we didn’t have 3.6, we could still parse the data, but it would be much more challenging and time consuming.”

Other topics include turn times, liability and fees.

As the industry rushes toward the Nov. 2 deadline, appraisers’ stress levels will continue to rise. The only question is: What will things look like when the smoke clears? Only time will tell.

To read more, Click Here

My comments: Good discussion of the issues with quotes from many people, including GSEs. Not many changes since the August conference, except software vendors are still sending out updates. Fees still unclear.

Read more!! →

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For Appraisers: FHA Adopting UAD 3.6

By on October 9, 2026   /   Appraisal Standards Board, Appraisal Subcomitee, Appraiser Survey, ASB Appraisal Standards Board, Fannie, FHA, GSEs   /   Leave a comment
Tags: , , ,

Newz: FHA Adopting UAD 3.6, AO-41: Tech Guidance, Analysis of 2026 Appraisal Licenses, Certification 25 (in UAD 3.6)

October 9, 2026

ARTICLE LIST – Scroll down to see the articles, in order

  • LIA AD: “Off the cuff” opinions
  • FHA Announces Optional Broad Production Period for Uniform Appraisal Dataset (UAD) 3.6
  • Summary of Proposed Changes to HUD Handbook 4000.1 – September 2026
  • 8.5-Acre Waterfront Palm Beach Megamansion Owned by Billionaire Tech Mogul Is Listed for a Staggering $165 Million
  • (Advisory Opinion) AO-41: TAF’s New Tech Guidance and What It Means, By Isaac Peck, Publisher WorkingRE
  • MYAD: UAD 3.6 – A Phase-In Approach: Get the Report Done first By Doug Smith, SRA
  • Certification 25 and the Quiet Breach of Appraiser Confidentiality, By Desiree Mehbod, Part 1 and 2
  • Analysis of 2026 ASC Appraisal License Data By Chase Pursley
  • MY UAD 3.6 UPDATE – Exemption clarifications, Cert 25, VA
  • MBA STATS: Mortgage applications decreased 6.0 percent from one week earlier

FHA Announces Optional Broad Production Period for Uniform Appraisal Dataset (UAD) 3.6

FHA is pleased to announce a major step toward implementation of Uniform Appraisal Dataset (UAD) 3.6. Following the successful completion of beta testing, FHA’s Electronic Appraisal Delivery (EAD) portal is now available for an optional broad production period for mortgagees to submit appraisals using UAD 3.6.

This optional phase gives mortgagees flexibility to transition to UAD 3.6 for FHA cases prior to the government sponsored enterprises’ (GSEs’) mandatory transition scheduled for November 2, 2026.

What you need to know and do now:

Effective immediately, all FHA-approved mortgagees participating in Title II forward mortgage and Home Equity Conversion Mortgage (HECM) programs may begin submitting appraisals in the UAD 3.6 format.

Mortgagees may continue to deliver all or some of their appraisals to the EAD portal in the legacy UAD 2.6 format.

For a given case number, the same UAD format of the initial submission must be used in all subsequent appraisal submissions for that case ― submission of multiple formats is not permitted.

FHA will continue to gather information to assess mortgagee transition readiness before establishing and announcing an FHA mandatory adoption date.

Mortgagees and appraisers should review the UAD 3.6 Implementation Preparedness Toolbox resource, available on the EAD portal webpage, for key technical specifications and transition guidance.

To read the UAD 3.6 Implementation Preparedness Toolbox, Click Here

To read the announcement (pdf) , FHA INFO 2026-23, with more links,

My comment: Good to see what FHA is doing. For VA info, see MY UAD 3.6 UPDATE below

Read more!! →

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Basic Requirements For Appraisal Reports (Updated for UAD 3.6)

By on July 31, 2026   /   AMCs, Appraisal fees, GSEs, UAD 3.6   /   Leave a comment
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Newz: 3 Basic Requirements for UAD 3.6 Appraisal Reports, Good Facebook Page – UAD 3.6 Software

July 31, 2026

What’s in This Newsletter (In Order, Scroll Down)

  • LIA AD: Limiting Liability to Third Parties
  • The 3 Basic Requirements for Real Property Appraisal Reports (Updated for UAD 3.6) By Kevin Hecht
  • Bay Area’s wildest house lists at $899K and just hit the market for the first time
  • Am I Being Paranoid, or Is There Another Reason? By Richard Hagar, SRA – GSE data
  • MY AD: Residential appraisal forms from the 1960s to today
  • The Appraisal Fee Lawsuit AMCs Can’t Outrun
  • DATE CORRECTION ON CONFERENCES in last week’s email
  • Excellent Facebook Page for UAD 3.6 Software
  • MBA STATS: Mortgage applications decreased 6.4 percent from one week earlier

 

The 3 Basic Requirements for Real Property Appraisal Reports (Updated for UAD 3.6) By Kevin Hecht, SRA

Excerpts: As a real property appraiser, you rely on appraisal reports to communicate your opinion of value. One of the most important principles in USPAP is also one of the most misunderstood: forms are not reports.

Filling out a form properly and completely does not automatically mean your report is USPAP-compliant. The content of the appraisal report, not its form or format, determines compliance.

That distinction has never mattered more than it does right now.

The static forms appraisers have relied on for decades, including the 1004, 1073, 1025, and 2055, are being retired and replaced by a single, dynamic, data-driven reporting structure.

This shift does not change the three foundational requirements of USPAP Standards Rule 2-1. But it does change how you meet them. Understanding that distinction is critical to your compliance and your credibility in the new reporting environment.

TOPICS

What Are the Three Basic Requirements for an Appraisal Report?

Standards Rule 2-1(a): Clearly, Accurately, and Not Misleading

SR 2-1(a) builds on the ETHICS RULE requirement that your appraisal reports must not be misleading. You satisfy this requirement by making sure you “clearly and accurately set forth the appraisal.”

As the saying goes, you must tell the truth, the whole truth, and nothing but the truth.

Under the legacy form-based system, appraisers added context and explanation through a free-form General Addendum, which provided flexibility when a standard data field did not fully capture the nuances of a particular property or assignment.

Under UAD 3.6, that flexibility is now built directly into the report structure itself through section-specific commentary fields, which keeps all relevant analysis organized and immediately accessible to reviewers.

Standards Rule 2-1(b): Sufficient Information for Intended Users

What changes under UAD 3.6 is where and how you provide that sufficient information

Standards Rule 2-1(c): Disclosing Assumptions, Extraordinary Assumptions, Hypothetical Conditions, and Limiting Conditions

How UAD 3.6 Supports USPAP Compliance

Preparing for UAD 3.6: Practical Steps for Appraisers

To read more, Click Here

My comments: Comprehensive, well written and worth reading.

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Fannie Appraiser Update

By on July 24, 2026   /   Fannie, FHA, UAD 3.6   /   Leave a comment
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Newz: Fannie Appraiser Update, Kentucky Board Approves Increase in Licensing Fees

July 24, 2026

What’s in This Newsletter (In Order, Scroll Down)

  • LIA AD: Client Insists on Cost to Cure
  • Fannie Mae Appraiser Update, July 16, 2026
  • Glittering L.A Megamansion With ‘Dramatic’ 50-Foot Water Wall and Swim-Up Hits the Market for $88 Million
  • Kentucky Board Approves Significant Increase in Appraiser Licensing Fees
  • MY AD: Doug Smith’s tips on selecting UAD 3.6 software
  • Honoring Jan Bellas, Our Greatest Advocate
  • Where Does an FHA Appraisal End and a Home Inspection Begin? HUD Has an Opportunity to Clarify. By Shane White, SRA (REPRINT)
  • Upcoming National Appraisal Conferences in Las Vegas
  • MBA STATS: Mortgage applications increased 1.9 percent from one week earlier

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Fannie Mae Appraiser Update

July 16, 2026

Get practical guidance to help you prepare for the Uniform Appraisal Dataset (UAD) 3.6 and Forms Redesign transition and stay current on updates that affect your work.

In this second Appraiser Update of 2026—and our 35th edition since launching in 2017—we’re sharing timely insights, policy updates, and resources to help you navigate industry changes and support your success.

In this issue, you’ll find:

Expert insights on key UAD 3.6 topics, including terminology updates, policy changes, unit counts, and more.

What Appraisal Management Company access to Collateral Underwriter® (CU®) means and how to navigate it effectively.

List of Topics

  • Changes to UAD language in 3.6
  •  Unit Count Differences in the Sales Comparison Grid
  •  UAD 3.6 Reports: Lessons Learned
  •  AMC Access to Collateral Underwriter

Sample Topic detail

Vet Comments for Accuracy and Necessity

Some of the most common problems we have seen in UAD 3.6 appraisal reports relate to inaccurate or unnecessary comments. Here are some actual cases that illustrate the issue:

Contradictory information: In the SCA grid, an appraiser correctly utilized the Comparable Weight field to state that Comp 1 was given most weight and Comps 2-3 were given less weight, but then the appraiser added a comment that “The final opinion of value has been weighted equally among comparable sales 1-3.” The contradiction between the information in the enumerated data versus the narrative comment is confusing to the reader and undermines the appraiser’s credibility. A more helpful and appropriate comment would explain why comp 1 merited the most weight.*

Repetitive information: Another common issue we have seen in UAD 3.6 reports is the appraiser repeating the condition rating (already stated in a defined data element) in the associated comment field.*

Outdated language: In another report, an appraiser commented in the Sketch Commentary field that “The GLA for the subject was derived by…” Of course, the term “GLA” or Gross Living Area has been replaced in UAD 3.6 with the term “above grade finished area” (see accompanying article in this newsletter), so the reference to GLA was a non sequitur and confusing to the reader.

*These cases illustrate the general principle that appraisers should not restate information already contained in the defined data elements.

To read more, Click Here

My comments: Definitely worth reading for excellent “how to” advice on UAD 3.6.

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Fannie Appraiser Update Q1 2026

By on March 27, 2026   /   AMCs, appraisal business, bias, Fannie   /   Leave a comment
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Newz: Fannie Appraiser Update Q1, Suspended AMC, Bias

March 27, 2026

What’s in This Newsletter (In Order, Scroll Down)

  • LIA AD: Should I consider this an actual claim?
  • Fannie Appraiser Update Q1
  • 126-Year-Old Gentlemen’s Estate That Epitomizes Gilded Age Opulence Lists in the Berkshires for $8 Million
  • Suspended: The AMC That Turned “Review” Into a Value Demand
  • Retirement: To Stay, To Go, or Can’t Decide? That is the Question!
  • AQB Releases Job Analysis Report
  • A Baseless Bias Claim Turns Into a State Appraisal Crusade
  • MBA: Mortgage applications decreased 10.5 percent from one week earlier

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Fannie Appraiser Update Q1

Email Message 3/19/26

Welcome to the first Appraiser Update of 2026. This edition delivers timely information to help you stay competitive and ready for what’s next, including:

Preparing for the fast-approaching Uniform Appraisal Dataset (UAD) 3.6 and Forms Redesign mandate on Nov. 2, 2026;

Understanding Appraisal Quality Monitoring letters to appraisers related to time adjustments; and

Embracing expanded eligibility for manufactured housing and accessory dwelling units – available only for UAD 3.6 submissions.

Topics list

  • UAD 3.6 articles
  • Appraisal Software Selection
  • Treatment of Location and View
  • Market Conditions Analysis Letters
  • MH Policy Changes
  • ADU Policy Changes

To read the update, Click Here

My comment: Worth reading, of course. Always a very popular link!

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Q4 2025 Fannie Mae Appraiser Update – AMC Risk, UAD 3.6

By on December 19, 2025   /   ADUs, AMCs, appraisal, AQB, Fannie, UAD 3.6   /   Leave a comment
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Newz: 12 Days of Appraiser Christmas,
Q4 2025 Fannie Mae Appraiser Update –AMC Risk, UAD 3.6

December 19, 2025

What’s in This Newsletter (In Order, Scroll Down)

  • LIA AD: A Family Feud and Intended Use
  • Q4 2025 Fannie Mae Appraiser Update – AMC risk, UAD 3.6
  • 12 Days of Appraiser Christmas
  • Santa’s House is Back on Zillow with a Bold New Holiday Look
  • Highest and Best—and the Highest Value By Richard Hagar
  • AQB Proposed Changes in New Appraiser Requirements
  • MBA: Mortgage applications decreased 3.8 percent from one week earlier
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Q4 2025 Fannie Mae Appraiser Update

As the year wraps up, we’re focused on what matters most to your success: clarity, consistency, and confidence in every appraisal. This edition gives you practical insights to stay ahead:

  • Several deep-dive articles on Uniform Appraisal Dataset (UAD) 3.6, focused on condition/quality ratings, the inspection component of Scope of Work, disaster mitigation, energy efficiency, and training and resources;
  • Why time adjustments matter—and how to apply them effectively; and
  • Our approach to managing Appraiser Management Company (AMC) risk for stronger compliance and reliability. Excerpts: In Jul. 2025, Fannie Mae began sending letters to AMCs detailing appraisal quality issues identified through Fannie Mae loan quality reviews completed in 2024. Each letter contains a comprehensive list of the issues identified for appraisals associated with that AMC.

To read more, Click Here

My comments: Worth reading. First time I have ever seen comments on AMCs. Good to see that GSEs are looking at AMCs.

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12 Days of Appraiser Christmas

NOTE on video: Click on image and it opens in Youtube.

Very funny!! 3.5 minute video

Sample appraisal requests:

On the fourth day of Christmas my best client sent to me falling

Shacks, three field reviews, two double wides, and a drive by single family.

On the tenth day of Christmas, my best client sent to me 10 tax appeals and eight Mega Mansions.

Singer in this video is comedian David Cassel as the Ukulele Bandito http://www.theukulelebandito.com / (he is not a Portland appraiser, but he is funny)

Many thanks to Gary F. Kristensen, SRA, ASA, AGA at A Quality Appraisals in Portland, Oregon.

My comment: I love this FUN video ;>

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Fannie Mae’s Selling Guide Updates

By on November 14, 2025   /   appraisal business, bias, Fannie, UAD 3.6   /   Leave a comment
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Newz: Fannie Mae’s Selling Guide Updates, Appraisers and Certainty in Mortgage Lending

November 14, 2025

What’s in This Newsletter (In Order, Scroll Down)

  • LIA: Conflicting Assignments and Professional Ethics
  • Beyond Terminology: What Fannie Mae’s Selling Guide Updates Mean for Appraisers
  • Genius’ Midcentury Modern Home Designed by Jimi Hendrix’s Studio Architect Lists in Woodstock for $3.5 Million
  • App-solutely Clueless: When Sales Tries to School Appraisers
  • Trump Defends 50-Year Mortgage Plan as ‘Not a Big Deal’ After Furious Backlash
  • The Strategic Advantage of Certainty in Mortgage Lending What it means for appraisals
  • MBA: Mortgage applications increased 0.6 percent from one week earlier

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Changes to Fannie Selling Guide dated April 15, 2014

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Beyond Terminology: What Fannie Mae’s Selling Guide Updates Mean for Appraisers

by Scott DiBiasio, Director of Government Affairs, Appraisal Institute

Excerpts: Fannie Mae recently issued important updates to its Selling Guide that may look like technical revisions but have significant implications for appraisers, consumers, and the valuation profession. The most visible changes involve the retirement of the term “appraisal waiver” in favor of “value acceptance” and adjustments to the Reconsideration of Value (ROV) process. Together, these changes reflect the GSEs’ modernization priorities—but also highlight the ongoing tension between efficiency and transparency.

From “Appraisal Waiver” to “Value Acceptance”

Fannie Mae has decided to eliminate the term “appraisal waiver” from the Selling Guide, replacing it entirely with “value acceptance.” Even the parenthetical “(appraisal waiver)” has been removed. The stated goal is to unify industry language and create consistency across the valuation spectrum.

That may sound harmless, but let’s be clear: the average consumer is not going to recognize that “value acceptance” means their lender has waived an appraisal altogether. That lack of clarity undermines transparency at a critical stage of the lending process.

The Appraisal Institute (AI) will absolutely continue to call these products what they are: appraisal waivers. Language matters. Consumers and appraisers alike deserve accuracy, not euphemisms, when it comes to understanding whether an independent appraisal has been performed.

Why This Matters for Appraisers

Taken together, the Selling Guide updates and the expansion of waiver-based models point to several key takeaways:

1. Language shapes perception. If consumers don’t recognize that value acceptance is an appraisal waiver, transparency suffers. That’s why AI will continue to call these products by their true name.

2. Efficiency is not clarity. Simplifying disclosures may ease compliance for lenders, but it risks reducing borrower awareness of their rights.

3. Modernization is accelerating. With waivers, UPDs, and hybrid appraisals expanding, appraisers must adapt their skills to remain at the center of the valuation process.

4. Incursion is real. Regulators, property data collectors, and third-party vendors are positioning themselves between appraisers and their clients. The profession cannot afford to cede ground.

To read more, Click Here

My comments: I had never read about what is discussed in this article. I don’t always read the Fannie Selling Guide Updates. Now I know why it is important.

When I wrote my article on Appraisal Regulatory Chaos in the monthly Appraisal Today newsletter, Scott let me include excerpts from what he has written about it plus sent me new information. This article has a few “promotional” comments about AI and classes, but well worth reading.

Read more!! →

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Q3 2025 Fannie Mae Appraiser Update

By on September 26, 2025   /   appraisal business, Fannie, UAD 3.6   /   Leave a comment
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Q3 2025 Fannie Mae Appraiser Update, When Sales are not Comps

September 26, 2025

What’s in This Newsletter (In Order, Scroll Down)

  • LIA AD: When a Property Owner Wants to Do the Appraiser’s Job
  • Q3 2025 Fannie Mae Appraiser Update
  • 14 Mile Island House: $10.8 Million Historical Estate on a Private Island in New York Is Listed for Sale for the First Time in 60 Years
  • It’s the Right Time By Jeff Bradford, Founder and CEO of Bradford Technologies
  • Sales Don’t Always Become Comps By Ryan Lundquist
  • Is Commercial Property Appraisal Right for You?
  • Mortgage applications increased 0.6 percent from one week earlier
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  • Humor for Appraisers

Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news

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Q3 2025 Fannie Mae Appraiser Update

Excerpts: In this edition, we share information and resources to help you navigate recently announced changes.

Perhaps the most significant appraisal policy change in recent memory is the launch of the new Uniform Appraisal Dataset (UAD) 3.6. In this edition we continue to unpack UAD 3.6 changes with the Update Report and the Completion Report.

To help with UAD 3.6 implementation, we have created a tool for appraisers to check their reports for UAD 3.6 compliance.

We also review recent Selling Guide changes related to reconsideration of value (ROV). Speaking of the Selling Guide, we provide some tips on how to make the most of this important resource for appraisers and we highlight changes to our ANSI fact sheet.

Topic LIst

  • Restricted Appraisal Update and Completion Reports
  • Comp driveby not required for UAD 3.6
  • UAD 3.6 compliance checker
  • Reconsideration of Value update
  • Stay up to date on Selling Guide changes

My comments: No more driving comps is a big change and is somewhat controversial for appraisers. Will lenders who don’t require UAD 3.6 drop the comp inspection requirement?

To read more, Click Here

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Changes to FHA Appraisal Requirements

By on July 5, 2025   /   Economic analysis, Fannie, FHA, liability   /   Leave a comment
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Newz: FHA Appraisal Changes, Fannie Measurement Standards Update

July 4, 2025

What’s in This Newsletter (In Order, Scroll Down)

  • LIA AD: Unreasonable Subpoena Request
  • HUD Announces Changes to FHA Appraisal Requirements
  • The Rock House In Larkspur CO Is Back On The Market for $1,000,000
  • Baghdad Bob of Freddie Mac Merits Mention As Mideast Erupts
  • The Full Measure – June 25, 2025 By Kevin Hecht, Appraiser and Economist
  • Fannie: Standardizing Property Measuring Guidelines
  • MBA: Mortgage applications increased 2.7 percent from one week earlier

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Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news

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HUD Announces Changes to FHA Appraisal Requirements

Excerpts: There are four significant appraisal-related revisions to Section II. D. of the Handbook.

  1. Subject and comparable photograph requirements have been revised….
  2. The appraiser is no longer required to state the remaining economic life of the dwelling in the appraisal report.
  3. In situations in which the subject is located in an increasing or decreasing market, the appraiser is no longer required to include an absorption analysis, a minimum of two sales that closed within 90 days of the effective date, and two active listings or pending sales.
  4. For Section 223(e) mortgages, the appraiser is no longer required to include an estimate of remaining physical life for the subject property improvements.

It is important to note that the originating lender is the client, not HUD/FHA, and as such, the lender may still require some or all the above items.

To read more,