Uniform Appraisal Dataset FAQ

The UAD is a standardized industry dataset for appraisal information that is communicated electronically through the Uniform Collateral Data Portal^® (UCDP^®). At the direction of the Federal Housing Finance Agency (FHFA), Fannie Mae and Freddie Mac (GSEs) jointly developed the first UAD in 2010 using the Mortgage Industry Standards Maintenance Organization (MISMO^®) Reference Model 2.6, providing consistent data standards for the loans the GSEs purchase.

The dataset is being updated to reflect changes to the appraisal industry since the current version was adopted in 2010, address future appraisal needs, and facilitate ongoing digitization in the appraisal process and the mortgage industry.

An updated dataset will enable the retirement of the current appraisal forms, replacing them with a data-driven, flexible, and dynamic report that will still allow appraisers to provide comments in each section. The characteristics of the property will drive the sections of the report, providing clear-cut support for the appraisal’s final value conclusion and improved readability of the appraisal report for all audiences.

In addition, appraisal data is currently submitted to the GSEs using the MISMO Reference Model 2.6; this version is outdated and no longer supported by MISMO. As part of this update, the UAD will upgrade to the latest MISMO Reference Model (3.x).

Yes, the appraisal forms listed below will be retired and replaced with a data-driven, flexible, dynamic structure for appraisal reporting in the form of a redesigned URAR. This report will have a similar look and feel to the redesigned Uniform Residential Loan Application (URLA) and the Closing Disclosure (CD).

• Uniform Residential Appraisal Report Fannie Mae 1004/Freddie Mac Form 70
• Individual Condominium Unit Appraisal Report Fannie Mae 1073/Freddie Mac Form 465
• Exterior-Only Inspection Individual Condominium Unit Appraisal Report Fannie Mae 1075/Freddie Mac Form 466
• Exterior-Only Inspection Residential Appraisal Report Fannie Mae 2055/Freddie Mac Form 2055
• Manufactured Home Appraisal Report Fannie Mae 1004C/Freddie Mac 70B
• Individual Cooperative Interest Appraisal Report Fannie Mae 2090
• Exterior- Only Individual Cooperative Interest Appraisal Report Fannie Mae 2095
• Small Residential Income Property Appraisal Report Fannie Mae 1025/Freddie Mac 72
• Appraisal Updated and/or Completion Report Fannie Mae 1004D/Freddie Mac 442
• Single Family Comparable Rent Schedule Fannie Mae 1007/Freddie Mac 1000

The joint GSE UAD project team would very much like to hear from you! Please include both the Fannie Mae and Freddie Mac teams on your emails (unless your inquiry is policy-specific):

[email protected] and [email protected].

The new UAD will provide standardized data to define the property, helping lenders and other end users better understand the property’s characteristics. The improved dataset will make it easier for mortgage lenders to verify property eligibility and determine overall collateral risk.

Capturing more property and market information as objective data points, using less free-form commentary, will reduce subjectivity and thus lessen the risk of bias in the appraisal.

Yes. The new URAR has the flexibility to identify various scopes of work and assignment details.

Yes. The new UAD and URAR will provide additional clarity by allowing the appraiser the flexibility to dynamically include the property characteristics that best highlight how the comparable properties relate to the subject property. The new Sales Comparison Approach section of the URAR has significantly fewer abbreviations and will be easier to read.

Yes, the new UAD has updated quality and condition rating definitions that make the distinction between the ratings clearer. Further guidance will be provided with the ratings definitions to assist the appraiser in determining a more objective rating.

Yes. In addition to rating the overall property quality and condition, the appraiser will provide quality and condition ratings for both the interior and exterior of the property. These new ratings, along with factual details and a commentary section, allow the appraiser to provide more information about the elements that support the overall quality and condition ratings.

Yes. The new UAD will cover all residential property types, including: Single-Family, Condominium, Cooperative, Manufactured Home, and 2- to 4-Unit.

Property types will be identified using individual or groups of data elements from the new UAD.

• Condominium Indicator
• Cooperative Indicator
• Construction Method Type – This will indicate Manufactured Home or Site Built
• Number of Units – 1, 2, 3, or 4
• Land Owned in Common – This will indicate the land is owned either in common or separate (e.g., identifies “site condo” when applicable).

Yes. The new UAD and the new Uniform Residential Appraisal Report (URAR) are for mortgage purposes only. The legacy forms will be retired for Fannie Mae and Freddie Mac (the government-sponsored enterprises or GSEs) purposes.

No. While both the UAD and Forms Redesign initiative and the Appraisal Modernization initiative were undertaken at the direction of the FHFA, only the UAD and Forms Redesign initiative is a joint-GSE effort. Each GSE is developing its own Appraisal Modernization effort.

The updated UAD will contain more discrete data elements to support the broader scope of all property types listed above; however, the requirements are still being defined, so the number of final data elements is not yet known. The current legacy forms do not allow for expansion of information or commentary within the relevant section, which often results in large addenda. The UAD joint team has evaluated the type of information found in the addenda, converted some of it to discrete data elements, and will provide the ability to include commentary within each section of the URAR. The GSEs are taking particular care to evaluate each data element requirement to support consistent appraisal reporting for the appraiser and make it easier for lenders and borrowers to review and understand the data.

The GSEs will continue to use UCDP. Adopting an upgraded UAD Specification that reflects the latest MISMO Reference Model will require updates to the UCDP.

Yes. The GSEs are working together on the joint UAD Specification.

No. The GSEs do not currently accept paper forms and will not do so with the updated UAD. All appraisal reports must continue to be transmitted electronically through UCDP.

The new UAD lets the appraiser report the condition status at the room level – including extent and timeframe of any updates.

Information about ADUs will be captured the same way as it is for a 2- to 4-unit property, with a flag to indicate it’s an ADU. This provides consistent reporting of all additional units. If the appraiser indicates that the additional unit is an ADU, more information will be required concerning the rental legality and use of the unit.

No. In place of the general addendum, the new UAD provides a commentary field specific to each major section of the URAR, offering the appraiser ample room to provide additional information.

The appraiser will disclose this information in the Certification section of the URAR. The new UAD is designed to comply with the 2020-2021 Uniform Standards of Professional Appraisal Practice (USPAP) requirements utilizing specific data points and will no longer need to be provided as text in an addendum.

In the new URAR, the appraiser will provide an answer to each of the four highest and best use test questions and have dedicated space to provide any necessary commentary.

Determining the capability of prepopulating information is within the purview of the software vendors. The GSEs’ scope is to standardize the UAD data and design the new URAR report.

Yes. The GSEs are working closely with the government agencies – FHA, United States Department of Agriculture (USDA) Rural Development, and Veterans Affairs (VA) – to include their specific requirements in the updated UAD and URAR.

No, there will not be a 1004MC (Market Conditions Addendum). There will be a market section in the new URAR that enables appraisers to expand on the market conditions.

An updated UAD Specification timeline has not yet been determined. The GSEs are currently working through the MISMO Residential Appraisal Dataset Development Work Group (RADDWG) to vet the proposed Reference Model changes.

This is a multi-year initiative and the final timeline has not been established. There is a published, tentative timeline on both GSEs’ UAD websites (Fannie Mae UAD page) (Freddie Mac UAD page).

Yes. The GSEs plan to offer a limited production period for early adopters to use the new UAD and URAR in a controlled implementation. There will also be ample time for testing prior to broad adoption.

Yes. Like other Uniform Mortgage Data Program (UMDP) projects, there will be an introductory period during which both the legacy dataset and the new dataset are accepted by the GSEs.

A comprehensive implementation will be the most efficient approach. A phased approach is counterproductive from a cost, systems, and educational perspective.

The UAD and forms redesign provide a step forward to helping the mortgage industry achieve the efficiencies that come with full digitization. Adoption of the new UAD is expected to benefit all industry parties, including appraisers, appraisal management companies, and lenders. Technology updates will be required for the Uniform Collateral Data Portal^®, Collateral Underwriter^® and Loan Collateral Advisor^® and other systems, and industry loan origination systems (LOS). The new dataset will be based on a version of the Mortgage Industry Standards Maintenance Organization (MISMO) 3.x Schema structure that will replace the no-longer-supported version 2.6, which uses the outdated Document Type Definition (DTD) structure. Use of a common MISMO model can reduce both data quality issues and confusion resulting from mapping.

Yes. Educational training and materials will be provided by the GSEs to appraisers and lenders prior to the adoption of the updated UAD.

Software vendors will still provide appraisal software for the appraiser to collect, analyze, and report data related to the collateral and render the URAR. Where the data resides is not part of the scope for the UAD and URAR redesign initiative.

The GSEs would like for appraisers to have the ability to use their legacy data to assist in the completion of future appraisals; however, the ability to do so will depend on the functionality of the software used by the appraiser.

The Uniform Appraisal Dataset (UAD) defines all fields required for an appraisal submission for specific appraisal forms and standardizes definitions and responses for a key subset of fields.

All fields necessary to comply with all GSE, client-specific, and Uniform Standards of Professional Appraiser Practice (USPAP) requirements must be completed. Certain fields may be required on some reports and not others depending on the nature of the assignment and the type of the property.

Many appraisal forms software providers have integrated the UAD Technical Specification within their products to help facilitate this process. For fields that require a standardized response, appraisers should become familiar with the Field-Specific Standardization Requirement to have a full understanding of the standardized responses and associated definitions.

Ultimately, lenders are responsible for reviewing the appraisal report and ensuring that the appraiser has provided all required data. When the lender uploads the electronic appraisal data to the Uniform Collateral Data Portal^® (UCDP^®), the portal performs checks to validate that certain data is in compliance with the UAD requirements and when applicable, the portal will return error messages if the data does not conform.

These terms represent the conditionality of a UAD data point and can be found in Appendix A and B: Appraisal Forms Mapping. Appraisal software, vendor, and lender systems generating the electronic appraisal data file for uploading to the UCDP must support all of the data points defined in Appendix A: Appraisal Forms Mapping. The conditionality column will contain one of the three indicators:

• Required (R): The data point must be included in the appraisal XML file.
• Conditionally Required (CR): The data point must be included in the appraisal XML file when a defined business condition exists. The conditionally required parameters are provided in the Conditionality Description column.
• Transmit (T): The data point must be supported. If populated by the appraiser, then the value must be included in the appraisal XML file.

These requirements translate into 209 required or conditionally required data points on Fannie Mae Form 1004/Freddie Mac Form 70 (91 required, 118 conditionally required). For this key subset of fields, we are providing field-specific standardized definitions and responses.

If data fields are not applicable because of conditions set forth in the appraisal then those fields should be left blank. Examples of fields that can be left blank when they are not applicable may include contract-related questions for appraisals where the assignment type is a refinance. All necessary research must be conducted to prepare an accurate and complete appraisal report, which would include all required and applicable conditionally required fields.

All necessary research must be conducted to prepare an accurate and complete appraisal report, which would include all required and applicable conditionally required fields.

No. The UAD does not standardize the data contained in the addenda. In fact, an appendix or an addendum is the preferred sections in which to include additional data, such as the legal property address, if it is different from the USPS standardized address.

No. The gray space on the appraisal report form must be left blank. There is no data mapping for the gray spaces in the UAD Specification, therefore any data placed in these spaces will not be recognized in the electronic appraisal file.

These labels are important for lenders to note when they are submitting electronic appraisal data to the UCDP because the labels can assist lenders in clearing edits received from the portal. For form fields labeled as a "requirement," UCDP will validate the data and will return an error message if the data does not conform to the defined reporting format as listed in Appendices A, B, and D. For form fields labeled as an "instruction," the UCDP will not validate the reporting format, but the data must be transmitted if populated by the appraiser.

The Condition and Quality rating that most closely fits the property must be selected. Comments and any additional pertinent information that will provide greater clarity around the choice of the condition and quality ratings must be provided.

No. The GSEs do not certify or approve vendors that are in compliance.

The GSEs continuously evaluate the need to revise the specification to align with the industry standard. In 2018, the GSEs launched a multi-year initiative to update the UAD and align it with the industry-standard MISMO® Reference Model Version available at the time.

Yes. Standardized UAD responses are case sensitive. Any changes in case to the standardized allowable values may cause errors. Thus, UAD appraisal reports should not utilize "ALL CAPS".

No. The appraisal report must provide any and all information that is necessary to communicate an appraisal in a manner that is not misleading and contains sufficient information to enable the intended users of the appraisal to understand the report properly. There are limitations as to what can be reported within the body of the standard appraisal report forms based on space constraints and data readability. However, the appraiser is expected to continue to provide all necessary additional information and clarifications within the report through the addition of a text addendum, photo addenda, maps, sketches, and any other additional information necessary to produce a credible and understandable report.

Question: Some users and readers of appraisal reports (such as borrowers) may not understand some of the standardized responses and abbreviations mandated by the UAD. Do appraisal reports that are completed using the UAD abbreviations conform to the Uniform Standards of Professional Appraiser Practice (USPAP)?

Answer: Appraisers can include the UAD definitions and abbreviations from the Field-Specific Standardization Requirements as an addendum to the appraisal report so that users and readers of appraisal reports are able to understand the UAD required standardized responses and definitions. Appraisers remain responsible for ensuring compliance with USPAP requirements. When appropriate, an appraiser must supplement the information provided in any appraisal report form being used in order to comply with the appraisal reporting requirements of USPAP.

For the purposes of the UAD, a first-generation PDF is a PDF file of the appraisal report that is produced and embedded within the XML by the appraiser's forms software before the appraisal is transmitted by the appraiser.

Fannie Mae and Freddie Mac have jointly developed the UAD and implemented the UAD for conventional loans sold to either GSE. Questions pertaining to FHA and VA requirements should be addressed to those organizations directly.

Question: If the subject property and a comparable property have features represented on the Sales Comparison Approach Grid identically, but which merit an adjustment, is an adjustment permitted? For example, both the subject property and a comparable property feature a view that is rated as Beneficial; Water View (B;Wtr), yet the water view from the subject property is recognized in the market as being superior (or inferior) to the water view from the comparable property.

Answer: Both properties can be rated as having beneficial water views, but the market can recognize a difference in the quality of the views. These differences must be adjusted for in the Sales Comparison Approach Grid and an explanation must be provided in the sales comparison approach comment field or in an addendum.

The condition of the property should be determined holistically, and the best definition should be applied as the overall rating. However, the C6 rating is an exception because it indicates that the property suffers from trait(s) that negatively affect the safety, soundness or structural integrity of the improvements. As a result, if any portion of the dwelling is rated a C6, the whole dwelling must be rated a C6.

Question: The UAD requires the appraisal to indicate whether the subject property's bathrooms have been "not updated," "updated," or "remodeled" within the past 15 years. What if there is a subject property in which there are multiple bathrooms and some, but not all, bathrooms have been updated or remodeled, while the other bathrooms have not been updated or remodeled?

Answer: If there are multiple bathrooms and only some, but not all, are updated or remodeled, the level of improvement provided should be "updated" or "remodeled." Appropriate explanation and commentary describing this situation must be included in the property condition comment field and/or an addendum.

The categories for Quality are somewhat generic in nature, as they need to be applied across a wide range of different housing designs, styles, and types. Not every feature listed in a definition for each Quality rating may apply to a particular property. The appraiser should report their best estimate of the subject's overall quality using the given Q1 through Q6 Quality ratings and definitions. The Quality ratings chosen for each property should be explained, as necessary, in the appraisal report. Additional commentary, as well as other exhibits including photos, are helpful in this regard.

No. The existing standards to rate the quality and condition of manufactured housing must be used.

The UAD sale type list is a waterfall. Start at the top of the list and select the first sale type that applies. The description may be expanded and additional information about the sale type may be provided elsewhere in the report, if necessary.

It is expected that an appraiser will determine and perform the scope of work necessary to complete the appraisal assignment, which would include attempting to obtain such information as is available in the normal course of business.

It is expected that appraisers will attempt to obtain as much information as possible in the normal course of business. This may include contacting listing agents, selling agents, buyers, sellers, or in some cases, making an inquiry to the occupants of a property. This is no different than what should be done today, when necessary. In some cases, it is recognized that the best information that an appraiser can obtain in the normal course of business is an estimate of the area of the basement or the finished area. In such cases, the estimates for the total and finished square footage for these areas must be provided. The appraisal report must include an explanation that the figure(s) provided are estimates and must describe the source for the estimate(s).

No. The single answer that best applies to each attribute must be determined.

The date may be provided in mm/yyyy format if the specific day is not available.

Yes. For example, if the appraiser lists a condo fee on page 1 of the appraisal report as an annual figure, and it is not equally divisible into whole dollars for the monthly requirement on the Sales Comparison Approach Grid, the rounded approximation is acceptable.

Yes. The XML file must include all data included within the embedded PDF of the appraisal report. Data may not be truncated within the XML file. The field length requirements in the UAD Technical Specification must be enforced for both the XML file and the PDF. XML appraisal files that do not include all data entered in each field of the PDF version of the appraisal report are not acceptable to the GSEs because they do not meet the UAD Technical Specification.

Outbuildings are to be treated separately and should not be considered in the rating of the primary residence. The contributory value of any outbuilding(s) should take into account the condition, quality, and utility of the structure(s) and be reported elsewhere on the form.

The Location rating is for the location of the subject and comparable properties within the neighborhood or market area and is not a rating for the overall neighborhood or market area.

Question: Prior to the introduction of the UAD, many appraisers used the "Location" field to report the neighborhood(s) or market area(s) in which the subject property and comparable properties are located and to make adjustments based on the market reaction for differences, if any, between the neighborhoods. Can the "Location" field in the still be utilized for this purpose in a UAD appraisal report?

Answer: No. The "Location" field in a UAD appraisal report is for rating and describing the location of the subject and comparable properties within the neighborhood or market area. In those instances where it is necessary to use one or more comparable properties that are located in a different neighborhood or market area than the subject property, the appraiser can report this information by using one of the three "blank" fields located at the bottom of the form and, if necessary, make appropriate adjustments.

No. For appraisals in territories where the metric system is widely accepted, such as Puerto Rico, square meters can be reported on the form by "sqm" in place of "sf" or "ac" to denote the lot size.

An appraiser must do all necessary research in the normal course of business to determine the date, and amount of any prior sale or transfer of the subject or comparable properties relevant to the analysis conducted in the appraisal. If the prior sale amount is not available in the normal course of business, the appraiser must leave the field blank, and explain in the prior sale comment field or the addendum all known information about the prior sale or transfer.

The UAD does not reflect specific laws, regulations or requirements that may apply in each geographic region. Therefore, warning messages in the UCDP may not be applicable if the UAD requirement differs from the requirement for that geographic region. To accommodate these circumstances, these warning messages will not transition to hard stops.

Question: If the condition of the property requires the appraisal be made "subject to" repairs, alterations, or inspections, what rating should the appraiser put in the condition field on page one in the improvements, or unit description section of the appraisal report?

Answer: The appraiser must provide the rating based on the condition of the property as it will be after the completion of the "subject to" items in the improvements or unit description section. The same rating must be used in the sales comparison approach grid. The appraiser must also describe the current condition of the subject property including the "as-is" condition rating in the condition comment field and/or in an addendum if necessary. Lastly, the comments must also include a breakdown of the necessary repairs and/or alterations which will be required to be repaired.

No. The Q and C ratings only apply to the overall condition and quality of the subject property. Appraisers should complete the exterior and interior descriptions as they do today.

No. If the assignment type is anything but a purchase, the contract section of the appraisal must be left blank.

No. Lenders may upload an appraisal to the UCDP and elect to submit it to either or both GSEs. However, lenders must successfully submit an appraisal to the appropriate GSE prior to delivering the related loan to that GSE.

The data submitted to the UCDP does not import into the GSEs' respective loan delivery systems. The data should be resubmitted to the applicable GSE.

The XML file may have missing, truncated, or incorrect information even when the data within the embedded PDF of the appraisal appears correct. This could occur when data in the appraisal was created using older or not updated versions of forms software, or in other rare instances where there may be an XML compiling or generation error. If errors persist please consult your technology vendor for assistance.

Users are advised to submit UAD appraisals in the MISMO^® 2.6 Errata 1 GSE Extended format to help ensure a successful submission.

An addendum to the report should be provided and/or information can be included in the additional comments sections.

Question: If the site size of the subject property and some of the comparables is less than one acre, and the site size of other comparables is greater than one acre, is the appraiser required to report the subject property and the comparable sales that are less than one acre in square feet, and the comparable sales with site sizes greater than one acre, in acres, or can the appraiser choose to report the site size of all of the properties using the same unit of measure?

Answer: The UAD requires the site size for all properties that are less than one acre to be reported in square feet and the site size of all properties that are one acre or greater be reported in acres.

No. The UAD specification does not standardize any of the data fields contained in the Market Conditions Addendum.

The year built/age of the original part of the structure should be entered.

Yes. Narrative descriptions are required in order to comply with GSE guidelines and USPAP reporting requirements. For instance, this may include providing a narrative explanation as to how and/or why an appraiser assigned a particular Condition rating (C1, C2, C3, C4, C5, or C6) to the subject property and comparable sales.

The Quality ratings in the UAD were developed independently and are proprietary to Fannie Mae and Freddie Mac. Fannie Mae and Freddie Mac have designed the Condition and Quality ratings to eliminate the ambiguity within existing appraisal reports around these key fields.

The UAD requires only the actual age to be entered in the "Actual Age" field on the Sales Comparison Approach Grid for the subject property and comparable properties. However, there are three additional fields located at the bottom of the Sales Comparison Approach Grid that can be utilized to report any additional data about the subject property and comparable sales that an appraiser feels is appropriate.

The physical address of the property should be provided. If the property is new construction and an address has not been assigned, the appraisal should provide as much information as possible to allow for the identification of the location of the property. This field may not be left blank.

The physical address of the property should be provided in the property address field. If necessary, any additional information or explanation about the property address may be included in an addendum to the appraisal report.

Question: The UAD requires that the appraisal report contain the physical property address which must be entered in a format that conforms to USPS address standards. Where should the legal, or other address of the property be included if the lender requires that information?

Answer: In cases where the lender provided address is not the physical address and/or does not conform to UAD requirements, this address of the property may be included in an addendum.

The actual physical address of the subject property should be provided. If necessary, any additional information or explanation regarding the property address may be included in an addendum to the appraisal report.

Yes. The UAD specifications may be applied to the other GSE appraisal forms, where applicable, if required by the client. However, an explanation of any standardized ratings/definitions, abbreviations, and formatting must be included in the appraisal report or an addendum.

The AMC name must be reported on Page 6 of the appraisal report in the "Name" field under "Lender/Client." The "Lender/Client" field on Page 1 of the appraisal report should be used for the lender only.

Yes. If "None" is indicated, then "0" must be entered for the number of cars for the driveway, garage and carport.

Question: The UAD requires the distance between the subject property and the comparable properties to be reported in miles with a directional indicator. How does this apply to properties that are located in the same building or in very close proximity to each other (i.e., the subject and the comparable property are condominium units located within the same building)?

Answer: In cases where the subject property and comparable property are located in the same building, the distance is to be reported in miles. However, in such cases, a directional indicator is not required. For example, for condominium units located in the same building, the required distance for this field could be reported as "0 miles", "0.0 miles" or "0.00 miles." For properties that are located in very close proximity to each other, but not in the same building (such as adjoining properties or properties located across the street from each other), the distance is reported in miles with a directional indicator. For adjoining properties, a correct entry for the required distance and a directional indicator could be similar to the following examples: "0.01 miles W" or "0.04 miles NE."

Yes. The latitude and longitude data fields for subject and comparable properties have been added to the UAD specifications. The latitude and longitude data fields are existing MISMO fields that are captured by the UCDP, if the data fields are present in the XML file. No UAD edits will be issued for these fields at this time.

"Other" must be chosen and a free form description of the property's view or location should be provided. A more detailed description may be provided in the sales comparison approach comment or in the addendum, if necessary.

When there are more than two views to be identified, the appraiser may select one view from the list that appears and then select "other" and indicate the additional views. If none of the views are on the UAD view factor list, the appraiser may simply select "other" and indicate the multiple views. If space is limited, the appraiser may provide abbreviations or a short description and then provide more detail in the comments section or an addendum including an explanation of any abbreviation(s) used.