With just a click of the mouse, DataMaster automatically fills in the MLS and Public Records data for the subject, comparables and 1004MC report. DataMaster will calculate and fill in the 1004MC appraisal report and create 16 different analytical graphs.
What is UAD?
"To improve the quality and consistency of appraisal data on loans delivered to the GSEs, Fannie Mae and Freddie Mac, at the direction of the Federal Housing Finance Agency (FHFA), have developed the Uniform Appraisal Dataset (UAD), which defines all fields required for an appraisal submission for specific appraisal forms and standardizes definitions and responses for a key subset of fields.
For appraisals with an effective date (date of inspection) on or after September 1, 2011, the appraisal report must be completed in compliance with the UAD for conventional mortgage loans sold to Fannie Mae or Freddie Mac.
The UAD is a component of the Uniform Mortgage Data ProgramSM, jointly established by Fannie Mae and Freddie Mac under the direction of our regulator, the Federal Housing Finance Agency, to provide common requirements for appraisal and loan delivery data."
What is DataMaster's Solution?
With the new DataMaster Plus, all of the imported information will be totally "UAD compliant" and in the proper format. No need to translate MLS data to meet the UAD standards. DataMaster Plus does this—automatically. Try it for Free for 14 Days!