Knowledge Base

What do I need to know about UAD?

Fannie Mae and Freddie Mac are implementing a new Uniform Mortgage Data Program (UMPD), which changes the minimum requirements for appraisals used in the loan process.

SFREP has been working closely with Fannie Mae and Freddie Mac since the beginning of last year, when the program first began. There have been many changes, revisions, and refinements made to the program over the last year, which resulted in several delays. However, final specifications for the program were published in December 2010. (More information about the program can be found on Fannie Mae's website here.)

Since then, our programmers have been working non-stop to ensure you are able to meet these new requirements using your SFREP software package, and an Appraise-It update is now available which enables you to complete your appraisals in compliance with the Uniform Appraisal Dataset (UAD) specification.

Below are more details about the new specification. Check back often, as this page will be updated as new information is available.

Important Dates
There are two important dates to keep in mind: September 1st, 2011 and December 1st, 2011.

September 1st: All appraisers must begin completing the appropriate appraisal forms in compliance with the UAD, if they are not doing so already. We anticipate many AMCs and other clients will begin asking for compliance far ahead of this deadline.

December 1st: Lenders must begin collecting the new Uniform Loan Data Delivery (ULDD) data points required for the first phase of implementation, as well as the UAD standardized appraisal data for new loan applications. Lenders must submit an electronic appraisal report before delivery to Fannie Mae or Freddie Mac if the loan application date is on or after December 1st.

The time between these dates ensures all loans initiated on or after September 1st will be compliant with UAD and ULDD requirements, since there is usually a 90-day lag between the time a loan is initiated and the time it reaches Fannie or Freddie.

Important Appraisal Report Changes
The biggest changes as a result of the Uniform Mortgage Data Program involve the data you gather and how you enter it on forms.

  • There is more data to gather
  • The data you gather is now standardized
  • There are rules regarding how the data is placed on the form
  • There are rules regarding abbreviations (in some cases, data must be abbreviated)
  • There are rules regarding how different pieces of data are separated within a field (i.e. using semi-colons)

There are also changes to the meaning of the data you collect. For example, in the sales grid, Condition and Quality were entered relative to the subject. This is no longer the case; a ranking will now be entered relative to the comp property itself.

Use the links below to learn about the new requirements and how to meet them in your appraisals.

What are the UAD Condition rankings?
What are the UAD Quality rankings?


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Last Updated
February 10, 2011