Reggora receives GSE verification for UAD 3.6 appraisal forms platform

Reggora has received verification from Fannie Mae and Freddie Mac for its Reggora Forms software under the Uniform Appraisal Dataset (UAD) 3.6 specification.

The platform can now be used during the government-sponsored enterprises’ Broad Production Period ahead of a looming compliance deadline.

Beginning Nov. 2, appraisal reports submitted to Fannie Mae and Freddie Mac must comply with the UAD 3.6 standard, replacing legacy appraisal forms with the new Uniform Residential Appraisal Report built on MISMO v3.6 standards.

Reggora said its browser-based platform will support both the new UAD 3.6 format and the existing UAD 2.6 forms, including General Purpose reports, allowing appraisers to complete both appraisal types from the same application.

“Appraisers have been forced to juggle three to five applications to complete a single report: a form filler, a data tool, MLS platforms, and standalone analytics. Every switch costs them time, context, accuracy and money,” said Brian Zitin, CEO of Reggora. “Now an appraiser will be able to do everything they need in one place, including searching MLS and public records, at no cost.

According to the company, the platform includes integrated access to MLS data, public records, comparable property research, market condition analytics, cost approach calculations and automated time adjustments based on Federal Housing Finance Agency home price index data.

It also provides side-by-side support for both UAD 2.6 and UAD 3.6 appraisal reports.

The Broad Production Period for UAD 3.6 began Jan. 26, giving lenders and appraisers time to transition before the mandatory implementation date later this year.

“A clean break on November 2 is not a real transition plan,” said Harrison Kennedy, product manager for Reggora Forms. “Appraisers need months of reps in the new workflow before it becomes a habit, and they should not have to pay for a second piece of software to get them. The result is a platform that does not just check the compliance box. It makes appraisers genuinely faster.”

Reggora Forms is available immediately to residential appraisers at no cost and operates entirely through a web browser without software installation or per-report licensing fees.

This article was generated using HousingWire Automation and reviewed by a HousingWire editor before publication.