What is a Uniform Appraisal Dataset (UAD)?

A Uniform Appraisal Dataset (UAD) is fundamentally a standardized set of data required for appraisal reports. It was developed to ensure consistency and accuracy in the information that appraisers provide across their reports, particularly in the context of federally-related transactions. The UAD sets forth specific fields and guidelines which help to unify appraisal reporting, making it easier for lenders, regulatory agencies, and appraisers to communicate effectively.

This standardized approach not only enhances the clarity of the appraisal documents but also helps in improving the underwriting process by ensuring that all necessary data is uniformly collected and presented. With a consistent dataset, it becomes easier to perform comparisons and analyses, facilitating more reliable appraisal practices across the industry.

In contrast, the other options do not align with the definition of UAD. While historical price data and regional databases may provide useful information for appraisals, they do not represent the standardization aspect that UAD embodies. Similarly, while digital property listings may convey essential property information, they do not serve the specific purpose of standardizing appraisal reports as the UAD does.