J Grant
Elite Member
- Joined
- Dec 9, 2003
- Professional Status
- Certified Residential Appraiser
- State
- Florida
AI- An appraisal waiver, or value acceptance, allows lenders to skip a traditional appraisal and rely on a lender's estimated value, potentially relieving them of certain representations and warranties related to the property's value, condition, and marketability.
Here's a more detailed explanation:
What is an Appraisal Waiver (Value Acceptance)?
Here's a more detailed explanation:
What is an Appraisal Waiver (Value Acceptance)?
- Definition:
An appraisal waiver, also known as value acceptance, is a program offered by Fannie Mae and Freddie Mac that allows lenders to skip a traditional appraisal for certain eligible loans.
- How it works:
Instead of a traditional appraisal, the lender's estimated property value is used, and the lender receives relief from certain representations and warranties related to the property's value, condition, and marketability.