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Automated Collateral Evaluation (ACE) - Freddie Mac
ACE is a Loan Product Advisor capability that leverages proprietary models, 40-years of historical data, and public records to allow lenders to underwrite certain loans without a traditional appraisal See how our research shows loans originated with ACE have lower delinquency rates compared to otherwise similar loans
Section 5602. 3 - Freddie Mac
ACE overview For certain Loan Product Advisor ® Mortgages, the Seller may receive the option to accept an appraisal waiver and originate the Mortgage without an appraisal If the Seller accepts the appraisal waiver option, Freddie Mac will: Accept the value of the Mortgaged Premises as:
ACE-ing the Credit Risk Test - Capital Markets - Freddie Mac
ACE leverages Freddie Mac models like Home Value Explorer (HVE) and our condition model, algorithms and a wealth of data to assess a property’s market value and condition When ACE is offered on a loan, it allows a lender to accept ACE in lieu of an appraisal
Valuation Options for ACE + PDR Freddie Mac Eligible Loans
What is an ACE + PDR Freddie Mac Eligible Loan? An ACE + PDR Freddie Mac Eligible Loan is a type of loan that is eligible for Freddie Mac’s ACE + PDR program ACE + PDR stands for Affordable Conventional Enhanced + PDR, which provides financing options for affordable housing properties with rent restrictions and other affordability requirements
ACE+ PDR - Freddie Mac Single-Family
ACE+ PDR (automated collateral evaluation plus property data report) is one of our collateral valuation offerings that allows lenders to originate eligible loans without an appraisal Additional property information is physically collected on-site by trained data collectors using the Freddie Mac PDR dataset, in lieu of a traditional appraisal
Guide Home - Freddie Mac
If the Seller accepts the ACE+ PDR option, Freddie Mac will: Accept as the value of the Mortgaged Premises: The purchase price of the Mortgaged Premises, for purchase transactions, or; The estimated value of the Mortgaged Premises, for refinance transactions
Freddie Mac outlines specifics of ACE+ PDR loans
Freddie Mac Single-Family Chief Appraiser Scott Reuter shared information about the government-sponsored enterprises’ (GSE) ACE+ PDR (automated collateral evaluation plus property data report) offering, which was effective July 2022
Lowering Credit Risk: The Case for ACE - Freddie Mac
benefits of the ACE program include cost savings on appraisals for borrowers and reduced credit losses for Freddie Mac, investors, and mortgage insurers The results of this study are specific to the ACE decision logic for granting collateral waivers
Freddie Mac Bulletin 2022-13: Automated Collateral Evaluation (ACE)…
ACES | Freddie Mac Bulletin 2022-13: Automated Collateral Evaluation… Freddie Mac has updated certain requirements related to ACE+ PDR requirements, superseding and replacing those announced in Bulletin 2022-6 and effective for Loan Product Advisor submissions on or after July 17, 2022 View Article Source →
ACE+ PDR – General FAQ - Freddie Mac Single-Family
A PDR provides important information about the condition of the subject property; ACE+ PDR (automated collateral evaluation plus PDR) allows Sellers to benefit from originating loans without an appraisal report, while ensuring the loans Freddie Mac purchases are secured by properties in acceptable condition