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Fannie Mae Adds Fuel to Appraisal Modernization’s Fire

Fannie Mae has provided details about its ongoing effort to modernize property valuation, with appraisals no longer necessarily the default option. So reports Mortgage Orb.

Fannie Mae2 150x150Fannie Mae and Freddie Mac are aiming to set up guidelines for using data and technology to speed up the process for valuing single-family properties to about two to three days.

Dean Kelker, chief risk officer at SingleSource Property Solutions, tells the news service that while the appraisal modernization process has been underway for about a decade, it’s starting to “gain momentum.”

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