UAD 3.6 Deadline Is Monday. Are Brokers Ready?
Brokers preparing for next week's appraisal deadline face more than a change in reporting forms. Depending on the wholesale lender, an appraisal ordered before Nov. 2 may be subject to different acceptance rules, a transferred report may face additional requirements, and a change in loan product could trigger the need for a new appraisal.The differences are already showing up in lender bulletins.
Brokers preparing for next week's appraisal deadline face more than a change in reporting forms. Depending on the wholesale lender, an appraisal ordered before Nov. 2 may be subject to different acceptance rules, a transferred report may face additional requirements, and a change in loan product could trigger the need for a new appraisal.The differences are already showing up in lender bulletins.
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