For those keeping score at home, the US Department of Veterans Affairs (VA) announced that it will not require Uniform Appraisal Dataset (UAD) compliance for appraisal reports on VA backed loans. VA will accept appraisal reports that are in compliance with UAD and is preparing a circular with more detailed information for a future release.
Give it a few more years and the VA will be right there requiring UAD compliance!
VA Circular 26-11-14
Dated: September 26, 20011:
Paragraph 2 ” Effective Date. Effective immediately, VA fee appraisers may, as an option, use UAD compliant versions of the forms. Effective January 1, 2012, VA appraisal reports utilizing FAnnie Mae Forms 1004, 1073, 1075 or 2055
MUST BE UAD-COMPLIANT.
Didn’t take long. They are following FHA