In Fannie Mae’s recent “Q1 2025 Fannie Mae Appraiser Update,” appraisers were alerted that going forward, there will be one dynamic URAR (Uniform Residential Appraisal Report) for all residential property types, including single family, 2- to 4- unit, condo, manufactured, and co-op properties.

“Soon the mortgage industry will migrate to the new URAR and the updated Uniform Appraisal Dataset (UAD 3.6). This is a pivotal time in our appraisal modernization journey,” the Fannie Mae Collateral Policy team said. “The new process will accommodate traditional, exterior only, desktop, and hybrid appraisal assignments when applicable. Even those additional client requests, such as limited marketing or exposure time values, cost to repair, and government agency requirements are now part of this single reporting process.”

Fannie Mae also noted that the best part is the adaptive nature of the report. Conditionality drives what sections and information appear in the final output, eliminating the need for multiple forms. The final report will only display what is relevant to your appraisal assignment and show the actions you have taken to develop the appraisal, the Fannie Mae team stated. The result will be a uniquely designed report for each subject property that best communicates its characteristics, and the work performed.

And appraisers will recognize that no two reports will look the same.