04/14/2023
Pennymac is pleased to align with Fannie Mae’s Valuation Modernization option.
As background, Fannie Mae introduced new terms and a range of appraisal alternatives in Fannie Mae SEL 2023-02. These new alternatives include:
- Use of Value Acceptance – being used in conjunction with the term “Appraisal Waiver”
- Value Acceptance + Property Data – a new option that utilizes property data collection by a third party who conducts interior and exterior data collection on the subject property.
- Hybrid Appraisals – based on interior and exterior property data collection by a third party that is provided to an appraiser to inform the appraisal.
Fannie Mae DU is being updated on the weekend of 4/15/2023 to support these updates. Fannie Mae DU loans using any new appraisal alternatives will be eligible for Non-delegated submission to Pennymac effective Monday, May 1, 2023.
Please contact your Account Executive with any questions and to learn more about these options.