Real estate is moving toward more data privacy. Appraisers say UAD 3.6 is moving the other way

Monday marks the implementation date of UAD 3.6, which requires appraisers to select specific data points from dropdown menus for every feature of a property, as opposed to writing text descriptions of the home as they previously did, increasing the amount of detail included in appraisal reports delivered to Fannie Mae and Freddie Mac. Within UAD 3.6 is the new Certification 25, which has generated quite the buzz among appraisal professionals. Certification 25, which was established by the government sponsored entities (GSEs), expands the data reuse beyond the parameters set in UAD 2.6, which included Certification 21, which largely governed who could receive or distribute a physical appraisal report. Under Certification 25, entities that receive appraisal reports like lenders, GSEs, secondary market participants and data collection services to store, copy, reproduce, analyze, use and distribute all data within the report, including interior photos and property details, for internal or external purposes without needing the appraiser’s further consent. While the certification does state that the appraiser and supervisory appraiser bear no liability for any use of the report outside ...