Stay up to date on the latest HUD changes for FHA evaluation requirements. The new changes took effect on June 27, 2020. The new Uniform Appraisal Data Set (UAD) 3.6 and the redesigned Uniform Residential Appraisal Report (URAR) will move to the limited production period on September 3.With the 3.6 U.S. dollar model, valuation forms will be replaced by a single, dynamic appraisal report that covers all residential properties from 1 to 4 units.
This edition focuses on helping you prepare for the transition. At the federal level, regulatory bodies such as the Appraisal Subcommittee (ASC) and the Federal Housing Finance Agency (FHFA) oversee valuation standards to maintain consistency and fairness in property valuations. Updates in 2025 could include new requirements for digital valuation methods, greater transparency in the valuation process, and greater consumer protection. FSBO sellers should be aware of these regulations to ensure that their home valuations meet the necessary legal and financial criteria, especially when it comes to federally backed mortgage loans.
Professional real estate agents often help coordinate appraisals, provide relevant documentation, and contact appraisers to ensure that all necessary details are taken into account. Since FSBO sellers manage the sale without the expertise of a real estate agent, they should be aware of how valuation standards determine the perceived value of their property. If you're buying a home in the current housing market, contact the Legacy Mortgage team to find out if the property you're looking for qualifies for an appraisal exemption. Accurate and organized real estate data not only helps the appraiser, but it also increases the likelihood of receiving a fair and competitive valuation, which is crucial when selling a home without the help of a real estate agent.
On the other hand, Value Acceptance + Property Data uses trained and verified external real estate data collectors, such as appraisers, real estate agents and insurance inspectors, who collect interior and exterior data of the property in question.
