Valuation Modernization
Navigating Valuation Modernization with Ease
As the Government-Sponsored Enterprises (GSEs) modernize the appraisal process following the direction of the Federal Housing Finance Authority (FHFA), our industry needs to understand and adapt to these new valuation changes.
With Valuation Modernization, Cotality is here to help you prepare for new appraisal methods, including updates to technology, integrations, datasets, and changes in documentation and home value reporting.
Modernized Appraisal
Ordering Process
These updates considerably improve productivity, standardization, and compliance, including enhancing the appraisal process, individual workflows, and data collection.
Complete UAD Coverage for Every Property Type
The GSE-led update of the Uniform Appraisal Dataset (UAD) expands the scope of coverage for all property types, including Accessory Dwelling Units (ADUs).
Redesigned to Improve Workflow Productivity
The expanded UAD dataset and the redesign of associated forms enable data standardization, helping simplify appraisal management across the industry.
Valuation Modernization Resource Hub
As the industry embraces the changes brought by the GSE appraisal modernization initiative, Cotality is providing go-to support for lenders, integration partners, and appraisers.
Here you will find essential information, tools, and guidance to help navigate the evolving landscape of property evaluation with confidence and ease.
New Forms Redesign
The GSEs are moving to a single, dynamic, and data-driven form redesign to eliminate the need for multiple forms and addendums.
This form redesign greatly improves documentation processes, data decisioning, and information management.
Standardization of Data Capture
The GSE-led forms redesign standardizes how data and images are captured in the reporting, making it far easier to review, ensure data compliance, and remove subjectivity from everyday processes.
Expanded Scope of UAD
(Uniform Appraisal Dataset)
The GSE-led forms redesign standardizes how data and images are captured in the reporting, making it far easier to review, ensure data compliance, and remove subjectivity from everyday processes. The expansion of the UAD scope delivers compliance with MISMO 3.6, removing a great deal of previous appraisal subjectivity by providing specific data fields rather than free-hand text fields. The expanded UAD also provides coverage for all property types, delivering improved property valuation and data collection.
In addition to the standardization brought by the expanded UAD and new forms redesign, the modernization of appraisal ordering delivers standardization driving enhanced productivity throughout the appraisal workflow.