Daily Archives: November 29, 2011

Illinois Appraisal Board sends letter FHFA about the Uniform Appraisal Dataset (UAD)

The Illinois Real Estate Appraisal Administration and Disciplinary Board is greatly concerned over the September 1, 2011 implementation of the Uniform Appraisal Dataset (UAD) by the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) under the direction of the Federal Housing Finance Agency (FHFA). Conforming to the UAD significantly compromises the appraiser’s ability to comply with theUniform Standards of Professional Appraisal Practice (USPAP) and with Illinois Law.

Click on link to read letter:

http://www.icapweb.com/upload/Letter%20to%20FHFA%20from%20Board%20-%2011-17-2011.pdf

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