ACE

[djd09]

How ACE Works​

Step 1:​

Submit loans to Loan Product Advisor® before you get an appraisal

Step 2:​

Provide an estimated value of property (for refinances) or purchase price (for purchase).

Step 3:​

Review the Loan Product Advisor Feedback Certificate to see if the loan is eligible for ACE.

Automated Collateral Evaluation (ACE)

Loan Product Advisor® ACE leverages our proprietary models, along with historical data and public records to let you to originate Freddie Mac-eligible loans without a traditional appraisal.

sf.freddiemac.com

unlicensed appraisal activity...hip hip hooray mortgage brokers

 

[Jayjay25]

Why not just add in the stated income again and might as well use a stated credit score too

 

[djd09]

i am estimating 75% of the homes bought or refi since the scamdemic are under water...they are concocking new propaganda to blame the appraisers for what waivers have done

 

[Mejappz]

How ACE Works​

Step 1:​

Submit loans to Loan Product Advisor® before you get an appraisal

Step 2:​

Provide an estimated value of property (for refinances) or purchase price (for purchase).

Step 3:​

Review the Loan Product Advisor Feedback Certificate to see if the loan is eligible for ACE.

Automated Collateral Evaluation (ACE)

Loan Product Advisor® ACE leverages our proprietary models, along with historical data and public records to let you to originate Freddie Mac-eligible loans without a traditional appraisal.

sf.freddiemac.com

unlicensed appraisal activity...hip hip hooray mortgage brokers

Mortgage brokers and GSEs are unregulated and not held accountable for performing appraisals nationwide. Meanwhile, USPAP restricts your professional freedom and keeps you enslaved on their plantation.

Post in thread 'USPAP the Fallacies, Foibles, and Violations'

Sunday at 2:26 PM

Part 2 of USPAPs failures and foibles.

The second of our “foibles” in USPAP may be from that same paragraph on page (ii), noted last week. This paragraph effectively sets the mission statement for the Appraisal Foundation.

The paragraph is titled: “ABOUT THE APPRAISAL FOUNDATION.” It states the AF provides “guidance on recognized valuation methods and techniques for all valuation professionals.” [Emphases added].

So what’s the problem? There may be two in one sentence . . .

The world continues to change​

Those recognized...

• Mejappz

• 

 

[George Hatch]

​

Step 3:​

Review the Loan Product Advisor Feedback Certificate to see if the loan is eligible for ACE.

Automated Collateral Evaluation (ACE)

Loan Product Advisor® ACE leverages our proprietary models, along with historical data and public records to let you to originate Freddie Mac-eligible loans without a traditional appraisal.

sf.freddiemac.com

unlicensed appraisal activity...hip hip hooray mortgage brokers

You always gaslight the GSEs process for issuing that certificate. That's because their process doesn't support your talking point.

That "to see IF the loan is eligible for ACE." demonstrates that Fannie is telling these brokers that some of these applications may not be approved.

 

[djd09]

​

You always gaslight the GSEs process for issuing that certificate. That's because their process doesn't support your talking point.

That "to see IF the loan is eligible for ACE." demonstrates that Fannie is telling these brokers that some of these applications may not be approved.

oh i know they are denying waivers...probably too risky...like the houses in marin city or east cleveland

 

[djd09]

Mortgage brokers and GSEs are unregulated and not held accountable for performing appraisals nationwide. Meanwhile, USPAP restricts your professional freedom and keeps you enslaved on their plantation.

Post in thread 'USPAP the Fallacies, Foibles, and Violations'

Sunday at 2:26 PM

Part 2 of USPAPs failures and foibles.

The second of our “foibles” in USPAP may be from that same paragraph on page (ii), noted last week. This paragraph effectively sets the mission statement for the Appraisal Foundation.

The paragraph is titled: “ABOUT THE APPRAISAL FOUNDATION.” It states the AF provides “guidance on recognized valuation methods and techniques for all valuation professionals.” [Emphases added].

So what’s the problem? There may be two in one sentence . . .

The world continues to change​

Those recognized...

• Mejappz

• 

the gse's have become the largest appraisal firm in the history of the world...quasi appraisal standard writers and competitors at the same time....that aint right

 

[Mejappz]

the gse's have become the largest appraisal firm in the history of the world...quasi appraisal standard writers and competitors at the same time....that aint right

Why do the GSEs and TAF hate the independent appraiser so much?

 

[DWiley]

For anyone who wants to see how ACE performs, as compared to appraisals, here is a link to some actual data and analysis.
https://capitalmarkets.freddiemac.com/crt/docs/pdfs/SF_CS_ACEResearchNote.pdf

 

[DWiley]

Why do the GSEs and TAF hate the independent appraiser so much?

When you switched to digital photography, did you do that because you hated the local one hour photo shop?
Or, did you do that because you found something that was just as good (at least for your purpose), more efficient and less costly?

The performance of ACE is evaluated in comparison to the performance of appraisals (see attached document referenced earlier). So, if appraisers want to influence waiver use, then the best thing they can do is provide good appraisals - appraisals with supported adjustments (including market condition adjustments when warranted) and appraisals that are made subject to repair and subject to inspection, when warranted.