A Loan Officer’s Ultimate Guide to Appraisal Modernization

We’re here to answer those questions, specifically with you in mind, LOs.

A look into GSE appraisal modernization efforts

The GSEs have each offered appraisal waivers on eligible loans for several years. Last year, Freddie Mac launched another solution that allows a trained property data collector to visit the home and gather images, measurements and property characteristics. More recently, Fannie Mae launched a similar solution.

The solutions, ACE+ PDR (automated collateral evaluation plus property data report) by Freddie Mac and Value Acceptance + Property Data by Fannie Mae, were designed to increase efficiencies for all stakeholders and lower costs in comparison to traditional appraisals, while maintaining the high-risk mitigation standards employed by the GSEs. The two solutions vary, so the following section is designed to be your primer on both: how they work, what property data collection is and the differences between the two solutions.