Glossary of Terms
The Uniform Residential Appraisal Report (URAR) is the legacy standardized appraisal report used by Fannie Mae and Freddie Mac for many one-unit residential assignments. It was traditionally associated with Fannie Mae Form 1004 and Freddie Mac Form 70 and organized appraisal information into standardized sections.
Those sections cover subject identification, neighborhood characteristics and trends, site, improvements, the sales comparison approach and the appraiser's certification. Cost and income approaches may also be included when applicable. The standardized structure made it easier for lenders and underwriters to locate and review key information.
The legacy form also had limitations. Information that did not fit its predefined fields often appeared in free-form commentary, making the data harder to analyze systematically. The GSEs are replacing the URAR and other residential appraisal forms with a dynamic appraisal report under UAD 3.6, required for new UCDP submissions beginning November 2, 2026.