On September 30, Fannie Mae and Freddie Mac (the “government-sponsored enterprises” or “GSEs”) announced a one-time temporary policy exception, issued at the direction of the FHFA, for sellers unable to meet the November 2 Uniform Appraisal Dataset (UAD) 3.6 mandate (previously covered by InfoBytes here). Under the exception, sellers that obtain approval may continue submitting UAD 2.6 appraisal reports through the Uniform Collateral Data Portal from November 2 through May 19, 2027. The GSEs stated that the November 2 mandate itself is not changing, and sellers that have successfully implemented UAD 3.6 do not need to take any action. To obtain the exception, an authorized representative of each seller must complete an online request form for each GSE, acknowledge the seller’s inability to meet the mandate, and commit to a final implementation plan to fully transition to UAD 3.6 by the expiration of the exception period.

The GSEs noted that beginning March 1, 2027, sellers still submitting UAD 2.6 appraisal reports will experience reduced functionality, including collateral risk scores of 999 in Fannie Mae’s Collateral Underwriter and 99 in Freddie Mac’s Loan Collateral Advisor, and loans delivered with UAD 2.6 appraisals during this period will not be eligible for collateral representation and warranty relief for value. UAD 3.6 becomes mandatory on May 20, 2027, with UAD 2.6 accepted only for resubmissions of previously submitted reports through June 27, 2027, after which UAD 2.6 will be retired. The GSEs stated that the exception is a one-time accommodation that will not be extended.