Appraisers across the state of Illinois probably thought they still were dreaming when they awoke earlier this month to find that more than 70 of the state’s appraisal management companies were on the verge of getting their licenses revoked for failure meet the state’s bonding requirements. However, despite reports of the contrary, the state ultimately decided not to suspend the licenses at the 23rd hour. Keep reading for the details.
From Forms to Reports: A Look at the UAD Overhaul
By now, most appraisers are aware that Fannie Mae and Freddie Mac (GSEs) have embarked on a complete overhaul of the Uniform Appraisal Dataset (UAD).