Fannie Mae announced changes to the eligibility requirements for its valuation modernization options, including Value Acceptance and Value Acceptance + Property Data. Value Acceptance was previously known as appraisal waivers, while Value Acceptance + Property Data is also known as inspection-based appraisal waivers.
These modifications are part of Fannie Mae's ongoing efforts to provide a balanced approach to property valuation. The company aims to offer a mix of traditional appraisals and alternative methods to confirm property values effectively.
The adjustments are designed to meet evolving market needs, potentially streamlining the mortgage process and reducing upfront costs for borrowers. This initiative supports Fannie Mae's mission to expand access to mortgage credit and enhance operational efficiency.
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