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GSEs Appraisal-Free Purchase Mortgages

Published Friday, September 1, 2017

On August 18, 2017, both Freddie Mac and Fannie Mae, collectively the Government Sponsored Entities (GSEs), announced they would allow for the use of their proprietary automated valuation tools in lieu of traditional appraisals for some purchase loan transactions.

Freddie Mac will utilize their automated collateral evaluation (ACE) to determine home value by using data from multiple listing services and public records as well as their own data of historical home values to determine collateral risks. Homes must have an 80% or lower loan to value, be a one unit single-family... Read More

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