For clients who originate or purchase VA loans, below is the text of the October 21, 2011, VA memorandum by Gloria H. Pointer, Valuation Officer in the Houston Regional Loan Center, announcing the adoption of Uniform Appraisal Dataset (UAD) compliant appraisal reports for VA Loan Guaranty Programs. Department of Veterans Affairs Memorandum Date: October 21, 2011 From: Valuation Officer, Houston RLC Subj: Uniform Appraisal Dataset (UAD) To: Texas, Oklahoma, Louisiana, & Arkansas Fee Appraisers The purpose of this memo is to announce the adoption of Uniform Appraisal Dataset (UAD) compliant appraisal reports for Department of Veterans Affairs (VA) Loan Guaranty Program Purposes. VA is moving to require UAD-compliant appraisal reports to remain in step with changes in appraisal reporting, to support consistency in appraisal reports, and to ensure the acceptability of VA appraisal reports within the industry. There are three actual changes to standing policy and procedures that are discussed in this memorandum. 1. Effective Date – Effective immediately, VA appraisers may, as an option, use UAD compliant versions of the forms. Effective January 1, 2012, VA appraisal reports must be UAD compliant. 2. Forms – The UAD will apply to the following commonly used residential appraisal report forms. Appraisal reports for Manufacturing Housing are not affected by UAD requirements. a. Uniform Residential Appraisal Report – 1004/70 b. Individual Condominium Unit Appraisal Report – 1073/465 c. Exterior-Only Inspection Individual Condominium Appraisal Report – 1075/466 d. Exterior-Only Inspection Residential Appraisal Report – 2055/2055 3. Points of clarification on VA appraisals in relations to UAD requirements
