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The “Tidewater Procedure” is what a VA appraiser follows when their opinion of value comes in below the home's contract sales price. Before finishing the report, the appraiser must notify the lender (or other parties in the transaction) and give them 2 business days to submit any additional comparable sales they'd like considered. If the lender submits data, the appraiser reviews it and notes in the report which sales were considered and why. If no data comes in within those 2 days, the appraiser notes that the Tidewater Procedure was followed and completes the report as-is. Either way, VA is clear this process is only for sharing market data — it's not an instruction to the appraiser to reach any particular value. It's named for the Tidewater region of Virginia, where VA first piloted it. Straight from VA Lenders Handbook (Pamphlet 26-7) — nothing added.

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© Copyright Notice: © Fannie Mae. UAD 3.6 / URAR reference materials shown for research and reference only. Full documents available at fanniemae.com/uad. Reproduction restricted per Fannie Mae copyright policy.

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#1 VA Lenders Handbook (Pamphlet 26-7) Page 348

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Appraisal Process 10-13 8. Market Data Submitted During the Appraisal Process Change Date March 11, 2019 • This chapter has been revised in its entirety. a. Notification from the…

VA Lenders Handbook (Pamphlet 26-7) · VA-Lender-Handbook.pdf · Page 348 · View at official source (VA.gov — Appraisers/Staff Appraisal Reviewer) →

Appraisal Process 10-13 8. Market Data Submitted During the Appraisal Process Change Date March 11, 2019 • This chapter has been revised in its entirety. a. Notification from the Appraiser During the appraisal process, fee appraisers are required to notify the requester before completing the appraisal when it appears that the estimated market value will be below the sales price. The appraiser will allow 2-business days for the requester, or any parties to the transaction contacted by the requester, to submit any additional sales data that they wish to have considered. This process is known as the “Tidewater Procedure” as VA first piloted this procedure in the Tidewater area of Virginia. b. Comparable Sales Data For each potential comparable sale submitted, the following information should be provided: • street address, • sales price, • date of sale, • gross living area, • if the property was listed, a copy of the listing with details about the property, and • any other information to assist the appraiser in determining whether the sale could be used as a comparable property. It is the responsibility of the requester to provide sufficient information for the appraiser to analyze. c. Notation in the Appraisal If market data is submitted, the appraiser will note in the appraisal that this procedure was followed and include the following information: • street address of each sale submitted, • whether or not each sale was considered and, if not, the reason, and • the effect of the data, if any, on the opinion of value. Continued on next page

#2 VA Lenders Handbook (Pamphlet 26-7) Page 349

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Appraisal Process 10-14 8. Market Data Submitted During the Appraisal Process, continued d. No Data Submitted If no market data is submitted, after 2-business days, the appraiser…

VA Lenders Handbook (Pamphlet 26-7) · VA-Lender-Handbook.pdf · Page 349 · View at official source (VA.gov — Appraisers/Staff Appraisal Reviewer) →

Appraisal Process 10-14 8. Market Data Submitted During the Appraisal Process, continued d. No Data Submitted If no market data is submitted, after 2-business days, the appraiser will note in the appraisal that the Tidewater Procedure was followed and complete the appraisal report. e. Process is for Sharing Market Data Only This process is in no way to be considered as instruction to the appraiser to meet any preset value.

#3 Clark County Title 30 Unified Development Code and Zoning Page 346

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Chapter 30.07 Rules of Construction & Definitions 30.07.02 Defined Terms J Designees Title 30: Unified Development Code 336 August 2023 A depressed portion of land or shallow…

Clark County Title 30 Unified Development Code and Zoning · OFFTitle30.EFF.03.05.26.pdf · Page 346

Chapter 30.07 Rules of Construction & Definitions 30.07.02 Defined Terms J Designees Title 30: Unified Development Code 336 August 2023 A depressed portion of land or shallow channel with gently sloping sides, either natural or human-made, that will carry runoff water from one point to another. Swimming Pool A permanent or temporary body of water in excess of 18 inches in depth, which includes all equipment necessary for its operation and use, used for swimming or recreational bathing including spas, hot tubs and above ground pools. T. Tandem Parking Parking spaces designed without the minimum required aisle necessary to back a vehicle out of the parking space without backing through another space. Taxidermy An establishment that prepares, stuffs, and mounts the skins of dead animals. Technical Impact Analysis Any geotechnical study, drainage impact analysis, traffic impact analysis or any other impact analysis acceptable to the Department of Public Works and as required by this Title, action of the Commission or action of the Board. Temporary Dwelling A temporary dwelling, including a manufactured or tiny home or recreational vehicle, used for a limited period such as during the construction of a dwelling or the reconstruction of a damaged or destroyed dwelling. Temporary Fence See “Fence.” Tenant A person, persons, or business, other than the owner who holds or occupies a dwelling, lot, or commercial/ industrial location. Tent An air-inflated, air-supported, cable or frame-covered structure, including temporary membrane structure as defined by Section 221-T of the Uniform Fire Code. Tiny Home A “tiny house” pursuant to NRS 278 that meets the International Residential Code (IRC) definition of a dwelling unit that is 400 sf or less in floor area, excluding lofts. Tour Guide or Transportation Service A business that provides for the delivery of passengers or goods such as couriers, limousines, taxis, ride-shares, tour guide services, Transportation Network Companies (TNCs), or other similar uses, excluding freight or passenger terminals. Town Board A Town Advisory Board or Citizens Advisory Council is a group whose members are elected or appointed by the Board to represent a specified geographic area within the County, and after review of proposals, to make recommendations on proposed development within their area to the Commission and the Board. Toxic Substances See “Hazardous Materials or Waste.” Tract 1. A subdivision; 2. A large unsubdivided parcel; or 3. A legal parcel of land identified by the results of an Independent Resurvey of

#4 IAAO Standards Page 138

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THIRD EDITION Thence — “Thence” in a legal description means “from that place.” Theodolite — A precision surveying instrument for measuring horizontal and vertical angles. The…

IAAO Standards · IAAO-Glossary_3rd-Ed_final.pdf · Page 138

THIRD EDITION Thence — “Thence” in a legal description means “from that place.” Theodolite — A precision surveying instrument for measuring horizontal and vertical angles. The graduated circles are usually read by means of optical microscopes and are more precisely grad- uated than are the circles on a transit. Theory Z — A management theory that assumes workers can be trusted to do their jobs to their utmost ability as long as management can be trusted to support them and look out for their well-being. Thermal Infrared — Electromagnetic radiation emitted by any substance as a consequence of the thermal excitation of its molecules. Thermal radiation ranges in wavelength from the longest infrared radiation to the shortest ultraviolet radiation. Thread — A line midway between the sides of a road or Right-of-Way. “Thread of a stream” is the line midway between the banks. Three Approaches to Value — The cost approach, income approach, and sales comparison approach. Tidelands — Lands covered and uncovered by the ordinary tides. Tied — As used in surveying, monuments are tied together by measurements. A property corner is tied to offset monuments or to other property corners. Tier — The area included between two township lines. TIF — See Tax Increment Financing. Time-Adjusted Sale Price — A property’s sale price adjusted for changes in market conditions between the date of sale and the date of valuation. See Market Condition Adjustment. Time Series Analysis — A family of techniques that can be used to measure the cyclical move- ments, random variations, seasonal variations, and secular trends observed over a period of time. Time Value of Money — The principle that an amount of money anticipated as income in the future is always worth less than an equal amount in hand at the present time. Timeshare Unit — A residence, usually a condominium at a vacation or resort site, whose ownership is divided among the owners by weeks or months, giving each owner the right to occupancy for a specified time each year. Title — The union of all elements constituting proof of property ownership or the instrument that is evidence of ownership. Evidence of ownership and lawful possession of property. Title, Equitable — See Equitable Ownership. Title Examiner — A person who analyzes a chain of title to land and passes on validity of instru- ments and then renders his opinion.

#5 UAD 3.6 / URAR (FNMA) Page 236

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Sales Comparison Approach Appendix F-1: URAR Reference Guide Page 236 of 375 Version 1.3 Sales Comparison Approach: Water Frontage (For Each Body of Water With Private Access)…

UAD 3.6 / URAR (FNMA) · Appendix F-1 URAR Reference Guide v1.3.pdf · Page 236 · View at official source (fanniemae.com/uad) →

Sales Comparison Approach Appendix F-1: URAR Reference Guide Page 236 of 375 Version 1.3 Sales Comparison Approach: Water Frontage (For Each Body of Water With Private Access) Report Field ID Report Label When Row Displays When to Include for each Comparable Allowable Answers / Format Origin of Subject Property Information Adjustable Row Definition / Additional Guidance 22.04.01 22.04.06 Water Frontage When subject or any comparable has private access to one or more bodies of water If relevant for each body of water with private access Free-form Site • Body of Water Name 4.035 No 22.04.01 22.04.06 Water Frontage When subject or any comparable has private access to one or more bodies of water Required for each body of water with private access Choose an allowable answer from the Definition / Additional Guidance column Site • Access Depth 4.037 No • Deep Water • Non-Navigable • Shallow Water • Other (Describe)

#6 UAD 3.6 / URAR (FNMA) Page 68

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Site Appendix F-1: URAR Reference Guide Page 68 of 375 Version 1.3 Waterfront Access Rights (Choose one for each Body of Water with Private Access) Allowable Answer Definition /…

UAD 3.6 / URAR (FNMA) · Appendix F-1 URAR Reference Guide v1.3.pdf · Page 68 · View at official source (fanniemae.com/uad) →

Site Appendix F-1: URAR Reference Guide Page 68 of 375 Version 1.3 Waterfront Access Rights (Choose one for each Body of Water with Private Access) Allowable Answer Definition / Additional Guidance By Permit Temporary permissible use of the waterfront access granted by a recognized authority. Deeded Access Legally permissible use of the waterfront access written in the deed. Privately Owned Waterfront access as granted through private ownership of the water frontage. Other (Describe) Select Other to enter an answer that is not in the above list. Access Depth (Choose one for each Body of Water with Private Access) Allowable Answer Definition / Additional Guidance Deep Water Water is four feet or deeper and can handle most types of recreational watercraft. Non-Navigable Water is less than two feet deep and does not provide consistent ingress and egress for any watercraft. Shallow Water Water is two to four feet deep and can handle most recreational watercraft. Other (Describe) Select Other to enter an answer that is not in the above list. Water Frontage Commentary Site: Information for Each Body of Water with Private Access Report Field ID Report Label When to Include Allowable Answers / Format Definition / Additional Guidance 4.038 Water Frontage Commentary If relevant Free-form Overall commentary for all water frontage, which could include information that is not captured in the discrete data, or additional details to support the discrete data that is provided. View and Impact to Value / Marketability A key component of a property’s location is the view. This subsection contains information about the views associated with the subject property, the range and breadth of those views, and the overall impact the views have on the subject’s value and marketability.

#7 Fannie Mae Selling Guide Page 777

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B5-4.2-01, Native American Conventional Lending Initiative (NACLI) (06/26/2012) Introduction This topic contains information on Native American Conventional Lending Initiative…

Fannie Mae Selling Guide · Selling Guide - 06-03-2026.pdf · Page 777 · View at official source (selling-guide.fanniemae.com) →

B5-4.2-01, Native American Conventional Lending Initiative (NACLI) (06/26/2012) Introduction This topic contains information on Native American Conventional Lending Initiative (NACLI), including: Overview Lender Eligibility Eligibility Requirements Special Feature Codes Overview As part of Fannie Mae’s commitment to offering conventional loan products to address special housing needs of the underserved, Fannie Mae developed its set of Native American conventional Housing Initiatives. Through these initiatives, Fannie Mae purchases conventional mortgages that are made to Native Americans. Lender Eligibility Any lender that is interested in participating in NACLI must obtain separate approval from Fannie Mae. Upon approval, the lender will obtain the applicable set of terms and conditions that may vary for the specific tribal community. Eligibility Requirements Tribes that have jurisdiction over lands restricted to tribal members are eligible. Before any lending may take place, a tribe’s ordinances must be reviewed to ensure that there is appropriate support for mortgage lending. This includes Fannie Mae’s confirmation that the tribe has appropriate ordinances involving such issues as the recording of mortgages, resale, lien priority, foreclosure, and eviction. Special Feature Codes A lender must report SFC 221 for a mortgage originated under NACLI when it delivers a mortgage originated under Fannie Mae’s Native American Housing Initiatives. In addition, the lender should report all other applicable special feature codes that are needed to describe other special mortgage characteristics. Recent Related Announcements

#8 IAAO Standards Page 141

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THIRD EDITION Transverse Mercator Coordinates — Geographic coordinates based on a transverse Mercator projection and usually expressed in meters. Treasury Bills — Short-term debt…

IAAO Standards · IAAO-Glossary_3rd-Ed_final.pdf · Page 141

THIRD EDITION Transverse Mercator Coordinates — Geographic coordinates based on a transverse Mercator projection and usually expressed in meters. Treasury Bills — Short-term debt obligations of the United States Treasury. Treatment, Storage, and Disposal Facility (TSDF) — Business that treats, stores, and disposes of hazardous waste. Regulated by the Resource Conservation and Recovery Act (RCRA). Trended Cost — The historical cost adjusted to current price levels by price indexes or composite multipliers. The trended cost should closely approximate the reproduction cost if price indexes are appropriately selected and properly constructed. Trended Historical Cost — 1) The cost of constructing an improvement at a particular time, adjusted to reflect inflation and deflation, as well as changes in construction costs, between that time and the appraisal date; and 2) Method of cost estimating that obtains an estimate of the reproduction cost of a structure by adjusting its original, or historical, cost with a factor from an appropriate construction cost index. Trending — Adjusting the values of a variable for the effects of time. Usually used to refer to adjust- ments of assessments intended to reflect the effects of inflation and deflation and sometimes also, but not necessarily, the effects of changes in the demand for micro-locational goods and services. Trending Factor — A figure representing the increase in cost or selling price over a period of time. Trending accounts for the relative difference in the value of a dollar between two periods. Triangular-Lot Table — A schedule of adjustments used to appraise a lot having a triangular shape, in whole or in part, by comparison with a base lot or a given unit of comparison factor, such as a front-foot rate. Trier of Fact — Any person(s) with the authority to determine the outcome of a legal contest, i.e. a judge, jury, or magistrate. Trimmed Mean — The mean of a data set calculated after removing a specific percentage of the smallest and largest values from the data set. Trust — An agreement whereby the owner of property (the settlor) transfers legal title to a second party (the trustee), such property to be held, managed, or disposed of for the benefit of a third party (the beneficiary) or the settlor, or both, as set forth in the trust agreement. Trust, Investment — See Investment Trust. Trust, Revocable — See Revocable Trust. Trust Deed — 1) Broadly, a deed by which title to

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