Desktop Appraisals Becoming Acceptable!
Great News! Fannie Mae announced this week that effective March 19th, 2022, they will allow desktop appraisals on certain transactions. The option will allow valuations based on tax records and property listing information. FHFA allowed them as a “flexibility” for a period of time due to the pandemic, but now they are looking to make this a permanent part of the origination process.
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Desktop appraisals can streamline the process and potentially allow for quicker closings.