For Fannie and Freddie, Appraisals Are Not Always Necessary
Washington Post, June 21, 2017–Kenneth R. Harney
Do we always need an appraiser to tell us what a house is worth? The country’s two biggest sources of mortgage financing–Freddie Mac and Fannie Mae–think not. “If there is a way to use technology to streamline or automate the process while ensuring the same standards of accuracy are met, it would benefit both lenders and consumers and should be pursued,” said Pete Mills, senior vice president with the Mortgage Bankers Association.
