Freddie Mac (Federal Home Loan Mortgage Corporation)
A government-sponsored enterprise (GSE) that purchases and securitizes residential mortgages. Together with Fannie Mae, Freddie Mac sets appraisal standards for the conventional mortgage market.
Freddie Mac's Single-Family Seller/Servicer Guide contains appraisal requirements that largely mirror Fannie Mae's but with some differences in form designations and specific guidelines. Freddie Mac operates the EAD portal for electronic appraisal delivery. The two GSEs coordinate on major initiatives such as UAD, ensuring consistent standards across the conventional market. Freddie Mac form numbers differ from Fannie Mae's (e.g., Form 70 vs. Form 1004) but the actual form content is identical.
Related Terms
Fannie Mae (Federal National Mortgage Association)
FNMAA government-sponsored enterprise (GSE) that purchases and securitizes residential mortgages, setting appraisal standards and form requirements that apply to the majority of conventional mortgage loans in the United States..
Electronic Appraisal Delivery (EAD)
EADFreddie Mac's portal for electronic submission and quality review of appraisal reports.
Uniform Appraisal Dataset (UAD)
UADA standardized data specification developed by Fannie Mae and Freddie Mac that defines how appraisal data fields must be completed, ensuring consistency and enabling automated analysis of appraisal reports..
Uniform Residential Appraisal Report (URAR)
URARThe standard appraisal report form (Fannie Mae Form 1004 / Freddie Mac Form 70) used for most single-family residential mortgage appraisals.
More in UAD & GSE Standards
View allUAD Condition Ratings (C1–C6)
A standardized six-level scale for rating the physical condition of a property's improvements, ranging from C1 (new or recently constructed) to C6 (in need of substantial repairs and rehabilitation)..
UAD Quality Ratings (Q1–Q6)
Q1-Q6A standardized six-level scale for rating the quality of a property's construction, ranging from Q1 (highest quality, custom-built luxury) to Q6 (basic or substandard quality construction)..
Uniform Collateral Data Portal (UCDP)
UCDPA web-based portal operated by Fannie Mae and Freddie Mac where appraisal reports are electronically submitted and checked for UAD compliance, data quality, and potential red flags before delivery to lenders..
MISMO (Mortgage Industry Standards Maintenance Organization)
MISMOThe standards body that develops and maintains the XML data formats used for electronic exchange of mortgage industry data, including appraisal reports.