The Selleck Group | KW City Views Realty
Scott Selleck · Broker Sales Associate · Request an appointment at meet.sellecksellsnj.com
Bergen County Seller and Buyer Insight
Serving Bergen & Hudson County · SRES®, e-PRO® · Licensed since 1993. Over 500 transactions closed.
The New Appraisal Report Mandate Starts Nov 2: What Bergen County Sellers and Buyers Should Know
Starting November 2, 2026, Fannie Mae and Freddie Mac require a redesigned appraisal format, UAD 3.6, for new appraisal reports submitted to their Uniform Collateral Data Portal on or after that date. In the new format, one Uniform Residential Appraisal Report replaces the old separate forms, including the separate condo and co-op forms. The appraiser still chooses the comparable sales and still forms the opinion of value. What changes is how the report is built and how much detail it records, so permits, a dated upgrade list and association documents are worth having ready. The date follows the report's first submission to the portal, not the loan application date or the appraisal's effective date. A lender that sells loans to Fannie Mae or Freddie Mac and obtains a temporary exception from each company it sells to can keep submitting new reports in the old format through May 19, 2027. FHA, VA and USDA loans follow each agency's own plan. The buyer's lender confirms which format a sale will get.
This article explains the change. It does not predict any appraised value and is not legal, lending or appraisal advice.
Key Takeaways
- The mandate date is November 2, 2026. The Fannie Mae and Freddie Mac UAD 3.6 FAQ says "UAD 3.6 becomes mandatory for all new appraisal reports submitted to UCDP on or after November 2, 2026," based on "the initial UCDP Submission Date of each report." The exception in the next point is the only way around it.
- Some lenders may keep the old format for a while. Under the joint temporary policy exception announcement of September 30, 2026, a lender that sells to Fannie Mae or Freddie Mac, requests and obtains an exception from each company it sells to, and commits to a plan to finish the switch can submit new UAD 2.6 reports through May 19, 2027. From March 1, 2027, those UAD 2.6 reports get reduced functionality in the companies' review tools. The exception "will not be extended."
- One report replaces the old forms, including the 1004 house form, the 1073 condo form, the 2090 co-op form and the 1025 two-to-four-unit form.
- The core comparable sales rules carry over.
- FHA, VA and USDA loans run on their own schedules. Ask the buyer's lender which format applies.
What Actually Changes in the Report
The Fannie Mae Uniform Appraisal Dataset page describes "a single data-driven, flexible, and dynamic appraisal report for any residential property type." Here is what a seller or buyer may notice when the lender shares the report.
No form numbers. The joint FAQ says the property data "drives the appraisal report, not a form type or number." A Fort Lee condo, an Englewood house and a Palisades Park two-unit house go into the same report, which shows only the sections that apply.
No general addendum. Comment fields sit inside each section instead of on a free-form page at the back.
More detail recorded as data. The joint Inspection and Reporting Tips document for appraisers lists new or expanded items, including:
- an estimate of when the roof was last replaced;
- update status, time frame and condition status for each kitchen and bathroom;
- disaster mitigation features, such as flood vents, impact resistant glass and storm shutters;
- solar and other renewable energy components, and whether they are leased or owned;
- defects, damages and deficiencies, each with location, whether it affects soundness or structural integrity, a recommended action, and photos of physical defects;
- known legal actions, when the property is in a project.
A defined market area. Fannie Mae's UAD 3.6 policy asks the appraiser to outline market area boundaries by north, south, east and west, and allows a map of active listings, pending sales and recent sales in the report.
Why Condo Comparable Selection Matters Here
In NJMLS closed sales from September 13 to October 13, 2026, Fort Lee had 26 condo, co-op and townhouse sales and 6 sales in the Residential (house) category, Cliffside Park had 16 and 4, and Edgewater had 7 and 2 (NJMLS Matrix, pulled October 13, 2026). Two units in one tower can differ in floor, exposure, view, renovation and parking. That is why comparable selection draws attention in Fort Lee, Cliffside Park and Edgewater.
The new format does not change who picks the comparables. Topic SB4-1.3-08 of Fannie Mae's Selling Guide Supplement: UAD 3.6 Policy, published September 2, 2026, says the appraiser is responsible for determining which comparables are most appropriate for the assignment, and that comparable sales "from within the same market area (including subdivision or project) as the subject property should be used when possible, and must be used in certain instances."
Those instances are new or recently converted condo projects, subdivisions and planned unit developments. The appraisal must include at least one settled sale from the subject project and at least one from outside it, and the third can come from either. If the unit is one of the first to sell and there are no settled sales inside, the appraiser may use two pending sales from the project in place of one settled sale, and must also use at least three settled sales from outside the project. Separate rules cover new projects of 2 to 20 units with no settled or pending sales.
What Sellers Can Prepare Before the Appraiser Arrives
Fannie Mae's policy says the lender must give the appraiser "a copy of the complete, ratified sales contract and all addenda," along with financing terms and sales concessions. The seller's part is the property facts:
- Permits and approvals. Closed permits for a finished basement, roof, added bathroom, kitchen or layout change. Your town's construction office keeps the records. If a permit is still open, talk with your real estate attorney before listing.
- A dated upgrade list. What was done and the year: roof, windows, kitchen, each bathroom, heating and cooling equipment, flooring. The new report records update status and time frame room by room, so dates matter more than adjectives.
- Equipment papers. Solar lease or ownership documents, and radon mitigation or sump pump records, if they apply.
- Condo or co-op association documents. Monthly charges, any special assessment, the master insurance certificate, the budget and the management contact, so the lender can request the project information it needs.
- Access. Keys or codes for storage, the garage space, the roof deck, the mechanical room and any outbuilding.
Give facts, not opinions of value. Fannie Mae lists as an unacceptable appraisal practice the "use of data, particularly comparable sales data, provided by parties that have a financial interest in the sale or in the financing of the subject property without the appraiser's verification of the information from a disinterested source."
For condo buyers, one caution applies. Warrantability has not been verified for any building in this article. Financing eligibility depends on the association's current reserves, litigation, occupancy and insurance status, and only your lender can tell you which loan a specific building qualifies for.
What Does Not Change
- The purpose. "The purpose of the URAR has not changed," the joint FAQ says. It is a report for a mortgage finance transaction.
- The core comparable rules. At least three closed comparable sales (with set exceptions for some new projects), a preference for sales closed within the last 12 months, and a preference for sales from the same market area or project.
- The contract. On a purchase, the lender must still give the appraiser the complete, ratified contract and all addenda.
- Your options if the number surprises you. Our posts on what to do if your home appraises low when selling in New Jersey and understanding the appraisal process in Bergen County still apply. Buyers weighing an appraisal contingency can read about losing bids in Leonia and Fort Lee and whether to waive the appraisal.
FHA, VA and USDA Loans
The November 2 mandate is a Fannie Mae and Freddie Mac rule. The two companies say in the joint FAQ that they worked with FHA, VA and USDA to include those programs' requirements in UAD 3.6, and add: "Contact each agency for their implementation plans." For FHA, FHA INFO 2026-23 (October 1, 2026) opened an optional period: lenders in FHA's forward mortgage and HECM programs may submit appraisals in UAD 3.6 or keep using UAD 2.6, every appraisal submission on one FHA case must use the format of the first submission, and FHA has not yet announced a mandatory date. HUD's Electronic Appraisal Delivery page says its portal "will continue to support UAD 2.6 and UAD 3.6 formats until UAD 2.6 is retired." For an FHA, VA or USDA loan, the lender will say which format applies.
On my financed listings this fall, I ask the buyer's lender early which report format it is ordering, and I have the permit and upgrade packet ready before the appraiser calls.
The Three Pillars Behind Every Good Decision
Every real estate decision sits where timing, lifestyle, and finances meet. Start with the first and work through all three.
Timing & Strategy
For a loan going to Fannie Mae or Freddie Mac, the format depends on when the report is first submitted to their portal, not when the appraisal is ordered. From November 2, 2026, a new report must use UAD 3.6 unless the lender has an approved exception. FHA, VA and USDA loans follow each agency's own plan. Ask the lender once the contract is signed, and have your packet ready before the appointment.
Lifestyle & Location Fit
Describe the unit and building accurately: floor plan, exposure, parking, storage and association rules. Compare towns with the Fort Lee town guide, Cliffside Park town guide, Edgewater town guide, Leonia town guide, Englewood town guide and Palisades Park town guide.
Financing & Cash-Flow
The lender uses the appraisal, along with the contract price, to decide the loan it will approve. The appraisal does not change the contract price by itself. Before listing, ask for a home valuation based on recent sales. A market estimate is not an appraisal.
Frequently Asked Questions
Whether the new report will change my home's value
No one can say that, and this article does not predict any value. The appraiser still selects the comparable sales and forms the opinion of value. The new format changes how the report is organized and what it records.
Whether every appraisal after November 2 uses the new report
Not necessarily. A lender that sells loans to Fannie Mae or Freddie Mac and obtains a temporary exception from each company it sells to can submit new reports in the old format through May 19, 2027. A revision of a report first submitted in the old format can be resubmitted in that format through June 27, 2027, under the companies' joint timeline. From June 28, 2027, the companies' portal no longer accepts any report in the old format, new or revised. That cutoff applies to submitting the report to the portal, and the companies say it does not by itself prevent the sale of a loan that already has an old-format report. FHA, VA and USDA loans follow each agency's own plan, and a loan that will not be delivered to Fannie Mae or Freddie Mac follows the rules of the lender and its investors. Ask the buyer's lender.
What a condo seller should have ready
Closed permits, a dated upgrade list by room, current association charges and any special assessment, the management contact, and access to storage and parking. Confirm the lender's project questions with your attorney and the management office.
If you are selling or buying with a mortgage in Fort Lee, Cliffside Park or nearby towns this fall, take the Seven-Question Assessment, or request an appointment and we will put your appraisal packet together before the appraiser calls.
For more on each town, see the Community Guides and the full library at SelleckSellsNJ.com.
Have a quick question first? Ask my AI assistant on Delphi. It is an AI trained on my material, not a person.
Scott Selleck
Broker Sales Associate | The Selleck Group | KW City Views Realty
Seniors Real Estate Specialist® (SRES®) | e-PRO® | Licensed since 1993. Over 500 transactions closed.
NJ Real Estate Broker Sales Associate License #9236275.
2200 Fletcher Avenue, Suite 502, Fort Lee, NJ 07024
Cell: (201) 970-3960 | Office: (201) 592-8900
Email: [email protected]
Website: SelleckSellsNJ.com
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NJ Real Estate Broker Sales Associate License #9236275. Licensure does not imply endorsement. Keller Williams City Views Realty. Each office is independently owned and operated. Broker compensation in New Jersey is fully negotiable and is not set by law or by any board or association of REALTORS®. This article is general information only and is not legal, tax, or financial advice. Confirm your own costs with your real estate attorney, tax advisor, or lender. Equal Housing Opportunity.
Fannie Mae, Freddie Mac and HUD materials are quoted as published on the dates shown and can change; the buyer's lender applies the rules in effect for the loan. This article is not legal, lending or appraisal advice. Talk with your lender, the appraiser (through the lender) and your real estate attorney about your own sale. Any market estimate is not an appraisal, and nothing here is a prediction of any appraised value or outcome.
Top 5 Sources
- Fannie Mae and Freddie Mac, Uniform Appraisal Dataset (UAD) 3.6 Frequently Asked Questions (FAQ 2 updated September 30, 2026), read October 16, 2026 at singlefamily.fanniemae.com.
- Fannie Mae and Freddie Mac, Temporary Policy Exception for Sellers Unable to Meet UAD 3.6 Mandate, September 30, 2026, and the joint UAD and Forms Redesign Timeline. Freddie Mac Single-Family Seller/Servicer Guide Bulletin 2026-J, September 30, 2026.
- Fannie Mae Selling Guide Supplement: Uniform Appraisal Dataset (UAD) 3.6 Policy, published September 2, 2026: SB4-1.1-04, SB4-1.1-05, SB4-1.3-03 and SB4-1.3-08.
- Fannie Mae and Freddie Mac, UAD Inspection and Reporting Tips for Appraisers, version 1.0, October 21, 2025, from the Freddie Mac UAD page.
- U.S. Department of Housing and Urban Development, FHA INFO 2026-23, October 1, 2026, and Electronic Appraisal Delivery Portal page, read October 16, 2026.
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