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Axis and Zaio are now working together to expand delivery of the 1004 URAR and Z-VAL products into five additional states serviced by its network in the first quarter of 2013.
Software companies that automate the process of generating and filling URAR forms have made significant gains during the past several years, as the process of completing appraisal forms became easier and more efficient.
On the second page of the URAR, the sales comparison approach section has three line items that may require adjustments in the valuation of the high performance home: Quality of Construction, Heating/ Cooling, and Energy-Efficient Items (Figure 2).
As the first major formfilling software upgrade to be released since the debut of the new Fannie Mae forms, Aurora gives its users a leg up with the new URAR and 2055.
It really more closely resembles a full-fledged URAR, but without the interior inspection rather than an improved BPO.
The intended use of the URAR form "is for the lender/client to evaluate the property that is the subject of this appraisal for a mortgage finance transaction.
Fannie's URAR form was revised and released in November 2005.
The appraiser prepared file first two pages of the URAR and was fairly confident that the value was $200,000.
Our role as appraisers--whether it's through a form report like the URAR or a highly individualized 250-page plus narrative report--is to serve as the only unbiased party to a real estate transaction.
If the selected AVM does not meet the value or other criteria of the customer, customers can then step up to a BPO, drive-by or full URAR.
In this way, the recent changes to USPAP echo the intent of the revisions to the URAR and other appraisal report forms.