Xactus, a verification provider for the mortgage industry, reported that Appraisal FirewallX has met the requirements and is capable of fulfilling Fannie Mae property data collection orders. It is connecting mortgage lenders with vetted and trained property data collectors to deliver the value acceptance + property data and hybrid appraisal solutions. The company also supports Freddie Mac’s ACE + PDR initiative.
“At Xactus, we are focused on advancing the modern mortgage and prepared for the future of appraisals,” said Shelley Leonard, President of Xactus. “We believe that Fannie Mae’s value acceptance + property data initiative as well as Freddie Mac’s ACE + PDR program will produce a better, more streamlined process for lenders and consumers.”
Fannie Mae’s appraisal modernization program is part of its ongoing efforts to modernize the mortgage industry. Upon submitting a subject property to Desktop Underwriterâ, the lender will receive a notification indicating the process for which the property qualifies.
Xactus Appraisal FirewallX valuation solutions can assist with the following:
- Value acceptance + property data – This new process extends an appraisal waiver as long as property data is gathered by a vetted and trained third party and a floor plan is delivered to DU. Xactus Appraisal FirewallX provides this data.
- Hybrid appraisals – This new process requires a vetted and trained third party to inspect the property and gather data, including a floor plan, and deliver it to a licensed appraiser for a desktop appraisal. Xactus Appraisal FirewallX provides this data.
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