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UAAR 2005 Update 2a includes all of the changes in UAAR 2005 Update 1 plus the additional changes listed below. You do not need to install Update 1 before installing Update 2a.
| Archived Form Name | New Form Name |
|---|---|
| Fema Flood 10-02 | FEMA Flood 12-05 |
| UAAR Restricted Use Report | USPAP '06 Restricted Use (Use together with an Executive Summary page.) |
| USPAP and Organizational Reqmts | USPAP '06 |
| Limiting Conditions | Limiting Conditions '06 |
| FTF Summary of Appraisal 1027A | FTF Summary 1027A 6-06 |
| FAMC Limiting Conditions | FAMC Limiting Conditions v3.2 |
| n/a | Rural Executive Summary |
| n/a | Fed. Rural Executive Summary |
The UAAR Template, FAMC UAAR Template, and the Rural Res-PTF Template have been updated to use the new forms.
Old Form: FEMA Flood 10-02
New Form: FEMA Flood 12-05
Location in Forms Library: UAAR Forms Library\FEMA Forms
What Changed: The new form has an updated expiration date of October 21, 2008.
The following quote was taken from the FEMA Webpage for Form 81-93.
FEMA Form 81-93, Standard Flood Hazard Determination Form (SFHDF) has a revised expiration date of October 31, 2008 and was approved for use, effective December, 2005. There were no changes to the format or content of the Form.
To allow users of the Form time to update their systems to the new version, the effective date for mandatory use of the new Form is July 1, 2006. Although the old version (expiration date October 31, 2005) of the Form is no longer available for distribution, existing copies may be used until June 30, 2006. SFHDF's completed on or after July 1, 2006, must be completed using the new Form, for compliance purposes.
Old Form: UAAR Restricted Use Report
New Form: Executive Summary + USPAP '06 Restricted Use
Location in Forms Library: UAAR Forms Library\Summary Appraisal
What Changed: This form has been archived. A new form similar to page two
named
"USPAP '06 Restricted Use" has been added. This new form has the section dealing with Departures removed. The comments
for Extent of Process/Scope has been expanded to allow more room. The new form is located in the forms library under
"UAAR Forms Library\UAAR-Report\UAAR Forms\Report Intro".
When replacing an existing "UAAR Restricted Use Report" form you will need to add
two forms to your container. To replace the first page use an "UAAR Executive Summary" or "Rural Executive Summary" . Then add the new "USPAP '06 Restricted Use" form
to replace the current second page.
Old Form: USPAP and Organizational Reqmts
New Form: USPAP '06
Location in Forms Library: UAAR Forms Library\UAAR-Report\UAAR Forms\Report Intro
What Changed: The italic explanation after "Approaches to Value" has been changed to remove the text "USPAP Departure(s)".
In addition, the text for "Exposure/Marketing Time" has been changed to read "Market Conditions".
This change allows the form to be used in appraisals where exposure/marketing time is not used such as UASFLA
(Yellow Book) appraisals.
The new form name is "USPAP '06".
Old Form: Limiting Conditions
New Form: Limiting Conditions '06
Location in Forms Library: UAAR Forms Library\UAAR-Report\UAAR Forms\Assumptions - LC
What Changed:
Item 11 was changed to remove the second sentence that starts
with "This report was prepared for the client's use...".
Item 15, the Departure Rule, was replaced with the new scope of work rule.
The new text reads "SCOPE OF WORK RULE. The scope of work was developed based
on information from the client. This appraisal and report was prepared for the
client, at their sole discretion, within the framework of the intended use.
The use of this appraisal or report for any other purpose, or use by any party
not identified as an intended user, is beyond the scope of work contemplated in
the appraisal, and does not create an obligation for the Appraiser."
Old Form: FTF Summary of Appraisal 1027A
New Form: FTF Summary 1027A 6-06
Location in Forms Library: UAAR Forms Library\FAMC Forms
What Changed: Item Number 5 "Scope of Work" was changed to replace the text "<Complete>
<Limited> Appraisal" with references to the FAMC CV Supplement Chapters.
Item Number 8 replaced
the Cost Approach text referring to a Complete Appraisal with the following text
"if the subjects improvements contribute over 10% to total property value, a cost approach is required.
Item Number 12 was changed under Statement of Assumptions to remove text about the statement of departures.
The form's revision has been updated to 06-06.
Old Form: FAMC Limiting Conditions
New Form: FAMC Limiting Conditions v3.2
Location in Forms Library: UAAR Forms Library\FAMC Forms
What Changed: Item Number 13 was changed to remove the second sentence that
starts with "This report was prepared for the client's use...".
Item Number 16 was changed from the Departure rule to the scope of work rule with
the following text: "SCOPE OF WORK RULE. The appraisal reflects a scope of work that
is based on information from the client and this appraisal and report was prepared
for the client's use and for use by Farmer Mac at their sole discretion within the
framework of the intended use stated in the report. The use of this appraisal or
report for any other purpose or use by any party not identified as an intended user
of this report is beyond the scope of work contemplated in the appraisal, and without
creating an obligation of the Appraiser."
The form's version has been updated to version 3.2.
The 2006 USPAP eliminates the existing Departure rule and replaces it with a new Scope of Work Rule. The text below is quoted from the ASB 2006 USPAP & Scope of Work Q&A found on the Appraisal Foundation's website.
The 2006 Edition of USPAP reflects extensive changes resulting from the Appraisal Standards Board (ASB) examination of the proper role of the scope of work and departure concepts in the appraisal process.
19. Is it a violation of USPAP to continue to use the labels “Complete” and “Limited” in the report?
No. It is not a violation to use labels or terms that are not included in USPAP. Since the concept of departure will not exist after 2006 USPAP is effective, the report would probably be clearer if those labels were replaced with an explanation of the scope of work applied. However, if the report clearly communicates the scope of work, use of the labels would not violate USPAP.23. Does the SCOPE OF WORK RULE introduce any new reporting requirements?
No. The SCOPE OF WORK RULE does emphasize that the appraiser must report the scope of work performed in the assignment, but this requirement has been in USPAP for many years.25. Is a separate section in the report needed for the scope of work description?
No. USPAP does not dictate where information must be included in reports. The scope of work performed may be described in one section or throughout the report.27. Have the reporting labels been deleted from USPAP?
No. The report types identified in USPAP have not changed. Self-Contained Report, Summary Report and Restricted Use Appraisal Report are still the report options for real and personal property appraisals.
Form: Review Checklist
Location in Forms Library: UASFLA Yellow Book
What Changed: Line 5 on Page 7 of the check list was changed from "10-Year Sale History" to "3-Year Sale History".
No archive of this form was created. When you open old appraisals that contain
this form they will be updated.
Form: FSA Environmental Inspection
Location in Forms Library: UAAR Forms Library\FSA Forms
What Changed: On page two under the category "Residences", "Portable" was changed to the correct word Potable.
No archive of this form was created. When you open old appraisals that contain
this form they will be updated.
Form: Rural Executive Summary
Location in Forms Library: UAAR Forms Library\Summary Appraisal
What Changed: This new executive summary option is based on the current
UAAR Executive Summary. The Rural Executive Summary has been updated to provide more flexibility
for reports that are not production based. Fields such as Livestock Capacity,
Leased AUMs, Crop Yield, and Avg. P.I. have been removed and replaced with open cells that allow you to display information
that is important to
your summary. Similar changes have been made in other sections of this form.
Form: Fed Rural Executive Summary
Location in Forms Library: UAAR Forms Library\
What Changed: This form is identical to the Rural Executive Summary with the exception of the Exposure
and Marketing Time fields. These two fields are not present on the Fed Rural Executive Summary form.
This form can be used, for example in UASFLA (Yellow Book) appraisals, where
Exposure and Marketing time cannot be included.
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