BIG CHANGES ARE COMING TO APPRAISALS: IS YOUR BANK READY FOR UAD 3.6?
Fannie Mae and Freddie Mac are rolling out major updates to residential appraisal reporting. Community banks should begin preparing now.
The new Uniform Appraisal Dataset (UAD) 3.6 and Uniform Residential Appraisal Report (URAR) redesign represent the most significant modernization of appraisal reporting in years. The changes won’t be mandatory until late 2026. However, lenders that start planning early can help ensure a smoother transition and avoid potential processing delays.
One of the most notable updates is the redesigned URAR. Instead of relying on multiple legacy appraisal forms, appraisers will use a single, dynamic report that adjusts based on the characteristics of the property being evaluated. The new format is designed to reduce unnecessary fields, improve consistency, and support more efficient reporting through updated MISMO 3.6 data standards.
Important Dates to Know
- January 26, 2026 – October 30, 2026 Appraisers can continue submitting appraisals using the current UAD 2.6 format during this transition period while they complete software upgrades and training.
- November 2, 2026 All new appraisal XML files submitted through the Uniform Collateral Data Portal (UCDP) must comply with UAD 3.6 requirements.
What Community Banks Should Be Doing Now
Although the deadline may seem far away, now is the time to start conversations with your appraisal partners and appraisal management companies. Confirm they have a transition plan in place and are preparing for the necessary software updates, training, and operational changes.
Taking a proactive approach can help minimize underwriting disruptions and ensure your institution is ready when the new requirements take effect.
Learn More
Both Fannie Mae and Freddie Mac offer resources to help lenders and appraisers understand the transition and prepare for implementation: