Fannie Mae and Freddie Mac recently released the January UAD Update and UCDP Release Notification. ACI continues to work with the GSE’s to coordinate our software implementation with their compliance release schedule. This is important for appraisers because in the next phase of UAD implementation (scheduled for June), four of the current compliance “warnings” will be escalated to “hard stops.” As a best practice and to obtain the latest rules, we encourage ACI appraisers to run Web Update as a part of your weekly routine.
Again, this update is scheduled to begin June 2013 and will affect the following fields:
- Appraisal effective date
- Subject contract price and comparable sale price
- Above grade Gross Living Area (GLA) (subject and comparables)
- Sale type (subject and comparables)
If you need to renew your support contract to get the latest release of ACI Report, visit our online store or call ACI Sales at 800-234-8727 today.