Dart Appraisal Now Supports Fannie Mae's Value Acceptance + Property Data Service Offering
TROY, Mich., April 2, 2024 (Newswire.com) - Dart Appraisal, an independent, nationwide appraisal management company (AMC), is happy to announce that they join a small handful of AMCs capable of fulfilling Fannie Mae property data collection orders for lenders. Value Acceptance + Property Data extends appraisal waiver benefits to more borrowers while identifying current subject property characteristics, including condition.
According to Fannie Mae, there are several benefits to lenders including:
- Reduces origination time and borrower costs.
- Promotes safety and soundness by obtaining a current observation of the subject property.
- Provides operational simplicity and certainty at the time of application.
Fannie Mae estimates that, in the years 2020-2022, borrowers saved $2.1B as a result of lenders utilizing appraisal waivers. In a time of higher rates and high home prices, these savings represent a bit of relief to borrowers.
Dart believes that the best way to get the most accurate valuation of a property is through a skilled, licensed appraiser. But we also know that, for reasons of cost and circumstance, a full appraisal is not always possible or required. So, if you are a lender who currently uses alternative valuation methods, or believes you may be able to save your borrowers' money by doing so, Dart would be happy to discuss the opportunity with you and help you decide which of your originations qualify and, if they do, which alternative means of valuation is most appropriate. If you have questions or would like to learn more, please contact us at info@dartappraisal.com.
Source: Dart Appraisal
