RC_LP_U_301.2 Property Valuation for Fannie Mae Loans

Fannie Mae’s automated underwriting system, Desktop Underwriter (DU), integrates with Collateral Underwriter (CU) to provide lenders with automated property valuation feedback. These systems offer lenders a comprehensive appraisal review process and feature streamlined property valuation and reporting processes that expedite underwriting. Fannie Mae's proprietary risk assessment models provide feedback on the appropriate level of fieldwork required to perform collateral evaluation, including situations in which the appraisal might be waived altogether. Although there are several specific systems in the integrated suite of products that support automated underwriting at Fannie Mae, such as CU, this course will generally refer to the "top-level" system, Desktop Underwriter (DU), to encompass them.

Property Valuation for Fannie Mae Loans explores the property valuation and reporting processes available from Fannie Mae. The course begins with a review of appraisal report types and discusses age of appraisal and completion report requirements. Next, it explains the required exhibits for streamlined appraisals. The course concludes by summarizing condominium and planned unit development (PUD) project types and review requirements.

This is a single-family/residential course.

Topics:

• Appraisal Reports
• Data Requirements for Streamlined Appraisals
• Required Exhibits for Fannie Mae Appraisals
• Project Types and Requirements

Seat time approximately 1 hour.

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