Home Appraisal Changes Coming November 2: What Mississippi Buyers and Sellers Should Know

Home appraisals are getting a major reporting update. Beginning November 2, 2026, Fannie Mae and Freddie Mac plan to require the new Uniform Appraisal Dataset, called UAD 3.6, for new appraisal reports submitted through the Uniform Collateral Data Portal. The updated dataset works with a redesigned Uniform Residential Appraisal Report, or URAR.

This is primarily a change to how appraisers collect, organize and communicate property information for many conventional mortgage loans. It does not automatically raise or lower a home's value, eliminate an appraiser's independent judgment, or turn an appraisal into a home inspection.

For Mississippi buyers and sellers, the practical lesson is simple: expect a different-looking report, provide accurate property information early, and leave enough time to review and correct any material errors.

What is changing in the new appraisal report?

The current residential appraisal system relies on several familiar form numbers, including the 1004 for many single-family homes and the 1073 for many condominiums. UAD 3.6 replaces those legacy forms with a dynamic report that changes according to the property and assignment.

According to Freddie Mac's UAD 3.6 FAQ, the redesigned report supports traditional, desktop, hybrid and exterior-only appraisal assignments. It also provides more detailed, standardized fields for property characteristics and directs explanations to the section where they belong instead of relying on a general addendum.

Examples of the changes include:

• One flexible reporting framework instead of multiple property-specific legacy forms
• More structured data about the subject property and comparable sales
• Clearer reporting about interior and exterior condition
• More detail about accessory dwelling units, including location, size, rooms and condition
• Updated definitions and instructions, while retaining the familiar condition and quality rating scales
• Report sections that appear when relevant to the property or assignment

When does UAD 3.6 become mandatory?

Fannie Mae's published implementation timeline and Freddie Mac's guidance identify November 2, 2026, as the mandate date for new appraisal reports submitted through the Uniform Collateral Data Portal. During the transition, lenders have been able to use either the legacy UAD 2.6 format or UAD 3.6.

Fannie Mae also announced a temporary policy-exception process on September 30, 2026, for lenders unable to meet the mandate. That does not create a borrower election between report formats. The lender and applicable government-sponsored enterprise determine the accepted submission path for a specific loan.

The November 2 mandate is most directly relevant to appraisals delivered to Fannie Mae or Freddie Mac. The redesigned data can support certain government-loan requirements, but buyers using FHA, VA or USDA financing should ask their lender how the applicable agency is implementing the change.

What buyers should expect

The appraisal is usually ordered through the lender, and the buyer should not attempt to select or influence the appraiser. You can still take several practical steps to protect your purchase and keep the loan moving.

1. Ask which report format and timeline will apply. Your lender can explain whether the assignment will use UAD 3.6 and whether the transition affects the expected appraisal delivery date.
2. Budget for the actual appraisal fee. Do not assume the reporting change will increase or decrease the fee. Obtain the charge and any revision or reinspection terms from your lender.
3. Keep financing and appraisal deadlines visible. Order the appraisal promptly when instructed, especially if the contract has a short financing period or the property is unusual.
4. Read the report. The Consumer Financial Protection Bureau explains that a borrower is generally entitled to a copy of an appraisal for a first-lien mortgage, usually no later than three days before closing.
5. Check facts, not just the value conclusion. Review the address, site, room count, living area, condition, improvements, accessory units and comparable-sale information.
6. Raise material errors through the lender. If the report contains incorrect or missing information that may affect the analysis, ask the lender about its reconsideration-of-value process and provide concise, verifiable documentation.

A buyer may disagree with the value and still have no factual basis for a revision. A strong request identifies a specific error or relevant evidence; it does not pressure the appraiser to reach the contract price.

What sellers can do before the appraiser arrives

The new report's more structured fields make accurate property information especially important. Sellers should prepare a simple documentation package before listing or as soon as the home goes under contract.

• Create a dated list of renovations and major repairs
• Gather permits, paid invoices, warranties and contractor records when available
• Document roof, HVAC, electrical and plumbing updates accurately
• Provide reliable information about additions, finished areas and accessory dwelling units
• Make every area of the property reasonably accessible for the scheduled assignment
• Correct inaccurate listing details promptly
• Leave market advocacy and comparable-sale information to the real estate professional, using facts rather than demands

Documentation does not guarantee that an improvement will contribute dollar-for-dollar to value. It helps the appraiser understand what exists, when work was completed and whether the information can be verified.

Accessory dwelling units will receive more attention

Homes with a guest house, garage apartment, in-law suite or other potential accessory dwelling unit deserve extra preparation. The redesigned report captures more information about an ADU's location, size, room count, condition, utilities and relationship to the main dwelling.

Owners should not label a space as an ADU based only on how it is used. Zoning, permits, access, utilities and the physical characteristics of the space may matter. Gather reliable records and allow the appraiser, lender and local authorities to apply their respective requirements.

Appraisal and inspection still answer different questions

An appraisal primarily helps a lender evaluate the property as collateral and supports an opinion of market value. A buyer's home inspection examines accessible systems and components to help the buyer understand condition, maintenance needs and possible defects.

Even if the new appraisal contains more property data, it does not replace a comprehensive inspection, specialized evaluations or the buyer's own due diligence. Read our guide to home inspections versus appraisals for a fuller comparison.

What happens if the appraisal comes in below the contract price?

The redesigned report does not change the need to follow the purchase contract and loan requirements. Depending on the contract, financing and the parties' decisions, the buyer and seller may consider:

• Reviewing the report for factual errors or overlooked relevant evidence
• Requesting a reconsideration of value through the lender
• Renegotiating the purchase price or other terms
• Changing the buyer's cash contribution, if financially appropriate and approved by the lender
• Using any applicable appraisal or financing rights in the contract

The available choices depend on the exact contract language, deadlines, loan program and financial circumstances. Buyers and sellers should get advice before waiving a contingency, contributing additional cash or terminating a contract.

A calm plan for the transition

New appraisal software and lender workflows may look unfamiliar during the transition, but the fundamentals remain steady. Price the property from current market evidence, disclose known material facts, provide accurate documentation, respect the appraiser's independence, and review the completed report carefully.

HomesRX helps buyers and sellers across Central Mississippi and the Mississippi Gulf Coast prepare for appraisal issues before they become closing problems. If you are planning a move, we can help you build a realistic pricing, contract and due-diligence strategy around your specific property.

This article is for general educational purposes and is not legal, appraisal, lending, tax or financial advice. Appraisal requirements, lender procedures, government-loan implementation, fees, timing, property eligibility and contract rights vary and may change. Buyers and sellers should obtain guidance from their lender, licensed appraiser, real estate professional, attorney and other qualified advisers for the specific property and transaction. HomesRX does not determine appraisal values or guarantee loan approval, report timing or transaction results.