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UAD AppraisalReference Guide

Appraisals Are ChangingAs part of the GSEs Uniform Mortgage Data Program (UMDP), appraisal reports will change dramatically afterSeptember 1st, 2011. This guide is for underwriters and appraisal managers to use as an easy reference for the newstandardized abbreviations you will see on appraisal reports after the implementation deadline.

AppraisalTek is ready for the transition and wants to make sure you are too.

Abbreviation Full Name Fields where this abbreviat ion may appear

ac Acres Area, Site

AdjPrk Adjacent to Park LocationAdjPwr Adjacent to Power Lines LocationA Adverse Location & ViewAr mLth Arms Length Sale Sale or Financing Concessionba Bathroom (s) Basement & Finished Rooms Below Grade

br Bedroom Basement & Finished Rooms Below GradeB Beneficial Location & ViewCash Cash Sale or Financing Concession

CtySky City View Skyline View ViewCtyStr City Street View ViewComm Commercial Influence Locationc Contracted Date Date of Sale / TimeConv Conventional Sale or Financing ConcessionCr tOrd Cour t Ordered Sale Sale or Financing Concession

DOM Days on Market Data Sourcese Expiration Date Date of Sale / TimeEstate Estate Sale Sale or Financing ConcessionFHA Federal Housing Authority Sale or Financing ConcessionGlfCse Golf Course Location

Glfvw Golf Course View ViewInd Industrial Location & Viewin Interior Only Stairs Basement & Finished Rooms Below GradeLndfl Landfill Location

LtdSght Limited Sight View

Listing Listing Sale or Financing ConcessionMtn Mountain View ViewN Neutral Location & ViewNonArm Non-Arms Length Sale Sale or Financing Concession

BsyRd Busy Road Locationo Other Basement & Finished Rooms Below GradePrk Park View ViewPstrl Pastoral View View

PwrLn Power Lines ViewPubTr n Public Transportation Locationrr Recreat ional (Rec ) Room Baseme nt & F in ishe d Rooms Be low GradeRelo Relocation Sale Sale or Financing ConcessionREO REO Sale Sale or Financing Concession

Res Residential Location & ViewRH USDA - Rural Housing Sale or Financing Concessions Settlement Date Date of Sale / Time

Short Short Sale Sale or Financing Concessionsf Square Feet Area, Site, Basementsqm Square Meters Area, SiteUnk Unknown Date of Sale / TimeVA Ve terans Admini st rat ion Sa le or F inanc ing Concessi onw Withdrawn Date Date of Sale / Time

wo Walk out Basement Basement & Finished Rooms Below Gradewu Walk up Basement Basement & Finished Rooms Below GradeWtrFr Water Frontage LocationWtr Water View View

Woods Woods View View

Complete Table of Abbreviations in DataStandardization Text

Standardization Notes & TipsLender/ClientOnly the lender should be entered in the Lender/Client field on

page one. Any applicable AMC should be listed in the Lender/Client field of the Appraiser Certification Sectionon page 6.

Site and AreaAreas less than one acre should be designated in whole numbers

only and square feet. For an area greater than an acre, it must be

measured in acres and up to two decimals. The unit of measure

should be indicated as sf or ac.

Right: 36421 sf, 3.27 ac Wrong: 58140 sf, 3 acres

Estimation of years:~ Must precede the estimationWhen you cannot provide an exact age or year a property was built

through the normal course of business, an estimate is acceptable.

However, a tilde (~) must proceed estimates of age or year built.

Right: ~1963, ~48 Wrong: 1963 (estimate), est. 48

Currency Formats:Whole dollars onlyCurrency fields throughout the appraisal must be entered in whole

dollar format. Appraisal forms have dollar signs already in place,

do not enter a dollar sign.

Right: $148,000 Wrong: 148,000.48 or $148,000.48

Date Formats:MM/DD/YYYY

Unless otherwise stated, date formats should be entered asMM/DD/YYYY. In the case where only a year format is required,

like a Tax Year, a 4 digit year is required.

Right: 07/01/2011 Wrong: 7/1/11 or 7/01/11

Other Date Formats: Date of Sale/TimesMM/YY; cMM/YYDate of Sale/Time format should include both the settlement date

denoted by s and the contracted date denoted by c followed by

MM/YY.

Right: s07/11; c07/11 Wrong: 7/11 or 07/11

Price of Prior Sale/ Transfer:Whole dollar, include $ signThe Price of Prior Sale/Transfer field below the sales comparison

grid is the e xception to the currency rule previously stated where all

currency fields must be represented in whole dollars and not contain

a dollar sign. When entering prior sales or transfers of the subject

or its comparables, include the dollar sign.

Right: $345,000 Wrong: 345,000 or $345,000.29

Fast FWhat you know abou

Beginning Sept2011, all FanniFreddie Mac ap

are required to

compliant.

Forms that are include:

-Uniform ResAppraisal Re(Form 1004

-Individual CoUnit Apprai(Form 1073

-Exterior-OnIndividual CUnit Apprai(Form 1075

-Exterior-OnResidential AReport(Form 2055

This is the biggto appraisals sinURAR. If yourisnt UAD compcould face fees aAppraisalTek ishelp you avoid t

Visit Fannie Mafor more informUAD changes.www.efanniemlqi/umdb/ind

Brought to you by

https://www.efanniemae.com/sf/lqi/umdp/index.jsphttps://www.efanniemae.com/sf/lqi/umdp/index.jsphttps://www.efanniemae.com/sf/lqi/umdp/index.jsphttps://www.efanniemae.com/sf/lqi/umdp/index.jsp

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UAD Definitions from Fannie UAD Appendices

Condition Ratings and Defnitions

C1 - The improvements have been very recentlyconstructed and have not previously been occupied. Theentire structure and all components are new and thedwelling features no physical depreciation.*

*Note: Newly constructed improvements that featurerecycled materials and/or components can be considerednew dwellings provided that the dwelling is placed ona 100% new foundation and the recycled materialsand the recycled components have been rehabilitated/re-manufactured into like new condition. Recentlyconstructed improvements that have not b een previouslyoccupied are not considered new if they feature anysignificant physical depreciation (i.e. newly constructed

dwellings that have been vacant for an extended periodof time without adequate maintenance or upkeep).

C2 - The improvements feature no deferred maintenance,little or no physical depreciation, and require no repairs.Virtually all building components are new or havebeen recently repaired, refinished, or rehabilitated. Alloutdated components and finishes have been updatedand/or replaced with components that meet currentstandards. Dwellings in this category either are almostnew or have been recently completely renovated and aresimilar in condition to new construction.

C3 - The improvements are well maintained and featurelimited physical depreciation due to normal wear andtear. Some components, but not every major buildingcomponent, may be updated or recently rehabilitated.The structure has been well maintained.

C4 - The improvements feature some minor deferredmaintenance and physical deterioration due to normalwear and tear. The dwelling has been adequatelymaintained and requires only minimal repairs to buildingcomponents/mechanical systems and cosmetic repairs.All major building components have been adequatelymaintained and are functionally adequate.

Quality Ratings and Defnitions

Q1 - Dwellings with this quality rating are usuallyunique structures that are individually designed by anarchitect for a specified user. Such residences typicallyare constructed from detailed architectural plans andspecifications and feature an exceptionally high level ofworkmanship and exceptionally high-grade materialsthroughout the interior and exterior of the structure.The design features exceptionally high-quality exteriorrefinements and ornamentation, and exceptionallyhigh-quality interior refinements. The workmanship,

materials, and finishes throughout the dwelling are ofexceptionally high quality.

Q2 - Dwellings with this quality rating are oftencustom designed for construction on an individualproperty owners site. However, dwellings in this qualitygrade are also found in high-quality tract developmentsfeaturing residences constructed from individual plansor from highly modified or upgraded plans. The designfeatures detailed, high-quality exterior ornamentation,high-quality interior refinements, and detail. Theworkmanship, materials, and finishes throughout thedwelling are generally of high or very high quality.

Q3 - Dwellings with this quality rating are residences ofhigher quality built from individual or readily availabledesigner plans in above-standard residential tractdevelopments or on an individual property owners site.The design includes significant exterior ornamentationand interiors that are well finished. The workmanshipexceeds acceptable standards and many materials andfinishes throughout the dwelling have been upgradedfrom stock standards.

Q4 - Dwellings with this quality rating meet or exceedthe requirements of applicable building codes. Standardor modified standard building plans are utilized and thedesign includes adequate fenestration and some exteriorornamentation and interior refinements. Materials,workmanship, finish, and equipment are of stock orbuilder grade and may feature some upgrades.

Q5 - Dwellings with t his quality rating feature economyof construction and basic functionality as mainconsiderations. Such dwellings feature a plain designusing readily available or basic floor plans featuringminimal fenestration and basic finishes with minimalexterior ornamentation and limited interior detail.These dwellings meet minimum building codes andare constructed with inexpensive, stock materials withlimited refinements and upgrades.

Improvements Ratings and

Defnitions

Not Updated - Little or no updating or modernization.This description includes, but is not limited to, newhomes. Residential properties of fifteen years of age orless often reflect an original condition with no updating,if no major components have been replaced or updated.Those over fifteen years of age are also considerednot updated if the appliances, fixtures, and finishes arepredominantly dated. An area that is Not Updated maystill be well maintained and fully functional, and thisrating does not necessarily imply deferred maintenance

or physical/functional deterioration.

Updated - The area of the home has been modified tomeet current market expectations. These modificationsare limited in terms of both scope and cost. An updatedarea of the home should have an improved look and feel,or functional utility. Changes that constitute updatesinclude refurbishment and/or replacing componentsto meet existing market expectations. Updates do notinclude significant alterations to t he existing structure.

Remodeled- Significant finish and/or structural changeshave been made that increase utility and appeal throughcomplete replacement and/or expansion. A remodeledarea reflects fundamental changes that include multiplealterations. These alterations may include some or allof the following: replacement of a major component(cabinet(s), bathtub, or bathroom tile), relocation ofplumbing/gas fixtures/appliances, significant structuralalterations (relocating walls, and/or the addition ofsquare footage). This would include a complete guttingand rebuild.

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Q6 - Dwellings with this quality rating are of basicquality and lower cost; some may not be suitable for year-round occupancy. Such dwellings are often built withsimple plans or without plans, often utilizing the lowestquality building materials. Such dwellings are often builtor expanded by persons who are professionally unskilledor possess only minimal construction skills. Electrical,plumbing, and other mechanical systems and equipmentmay be minimal or non-existent. Older dwellings mayfeature one or more substandard or non-conformingadditions to the original structure.

C5 - The improvements feature obvious deferredmaintenance and are in need of some significant repairs.Some building components need repairs, rehabilitation orupdating. The functional utility and overall livability issomewhat diminished due to condition, but the dwellingremains usable and functional as a residence.

C6 - The improvements have substantial damage ordeferred maintenance with deficiencies or defects that aresevere enough to affect the safety, soundness, or structuralintegrity of the improvements. The improvements are in

need of substantial repairs and rehabilitation, includingmany or most major components.

AppraisalTek is a full service appralocated in and servicing MaricopaPima Counties of Arizona. Apprare also available Nationwide. has a long standing reputation oquality appraisal reports includinof: luxury homes, FHA, Conventioproperties, estate, trust, vacant land, anegotiations. Please contact us for dwww.AppraisalTek.com to place an or

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