Glossary of Terms
The Uniform Property Dataset standardizes the information gathered during a property data collection, an observation of a property's physical characteristics used in certain appraisal waiver and hybrid valuation processes. It covers required, conditionally required and optional data elements and supports interior and exterior collections, including images and a floor plan of the subject property.
The UPD replaced each GSE's separate property data collection format, including Fannie Mae's property data collection and Freddie Mac's property data report, which had been similar but not identical.
It remains separate from the Uniform Appraisal Dataset, although some data elements and response options align between them.
The distinction is important: a property data collection is not an appraisal because it contains no opinion of value and may be completed by a trained and vetted data collector rather than an appraiser. The GSEs have also published the Uniform Property Data Report to standardize how collected data is presented.