New Appraisal Form UAD 3.6

What the New Appraisal Format Means for Your Transactions

A new appraisal reporting format,UAD 3.6, is coming for Fannie Mae and Freddie Mac loans, with required use for appraisal deliveries beginning November 2.

What does this mean for your transactions?

The new format requires appraisers to provide more specific information about the property, including upgrades and improvements by room. While the goal is to create clearer, more consistent appraisal reports, the transition could initially mean longer turn times and higher appraisal fees as appraisers adjust to the new system.

This could be particularly important when appraisals are ordered close to closing or when a rate lock is approaching expiration. Build a little extra time into your transaction when possible and communicate with your lender early.

How Realtors Can Make the Most of These Changes

Listing agents should provide the appraiser with a detailed list of property improvements and upgrades, and highlight them in the MLS and listing comments. The more information the appraiser has, the less they have to rely on assumptions when evaluating the property and comparable sales.

Benefits of the New Format

• More consistent reportswith required fields and standardized information

• Clearer, easier-to-read appraisals

• Fewer missed detailsbecause the system requires specific information

• Better quality controlfor lenders

• More specific documentation of improvements, allowing appraisers to call out individual upgrades and provide comments

• Potentially fewer revisionsas the new software and workflow improve

For Realtors, the biggest things to watch are appraisal timing, fees and documentation of improvements. A little preparation on the front end can help keep the transaction moving smoothly.