Fannie, Freddie and FHA Announce New Appraisal Reporting Developments

Fannie Mae and Freddie Mac (the GSEs) recently introduced an overview for using the Uniform Appraisal Dataset (UAD) 3.6 and the Uniform Residential Appraisal Report (URAR) during a limited production period beginning September 8, 2025.  Separately, the FHA issued FHA Info 2025-42 announcing that FHA will begin its transition to UAD 3.6 and URAR in early Spring 2026.

URAR will replace the current multiple legacy appraisal forms with a single, dynamic report that adapts to different property types and valuation methods.  Replacing the free-form commentary in legacy forms, the new URAR utilizes new data fields and drop-down menus and checkboxes, resulting in more automatable data, improved quality control, and better integration with underwriting and processing systems.  

The GSEs report that UAD 3.6 aligns with MISMO v3.6, and therefore meets current mortgage industry standards for data exchange.  This will facilitate mortgage lenders as they ensure that their appraisal software and loan origination systems are updated to support the new UAD 3.6 data format and file types.  

Lenders may elect to participate in the GSEs’ limited production period, which extends from September 8, 20205, through January 25, 2026, by completing a questionnaire and receiving GSE approval.  Beginning January 26, 2026, through November 1, 2026, all GSE lenders can begin submitting UAD 3.6 appraisals without prior GSE approval.  During this period, both UAD 2.6 and UAD 3.6 will be acceptable.  Beginning November 2, 2026, UAD 3.6 becomes mandatory for all new appraisal submissions on GSE loans.

Similarly, FHA is expected to announce a detailed timeline and further guidance later this year, including specifics on the transition period, in which both UAD 2.6 and UAD 3.6 will be acceptable.