Stewart Information Services Corp.’s Stewart Valuation Intelligence LLC (SVI) has been verified to support Freddie Mac’s new Property Data Report (PDR) with VALIDITY Pro and its national panel of highly trained real estate brokers and agents.
VALIDITY is the company’s family of inspection applications, optimized for mobile phones or tablets. With VALIDITY Pro, an SVI broker or agent conducts a full property inspection to collect Freddie Mac’s required data for the PDR.
“Being an appraisal management company (AMC) with the technology and dedicated broker network needed to complete the reports for our clients is a huge advantage,” states Aaron Fowler, president of SVI. “Our customers don’t have to rely on unknown third-party providers. All our PDRs are produced with our network partners using our Freddie Mac verified VALIDITY Pro application.”
Starting in July, Freddie Mac transitioned from offering automated collateral evaluation (ACE) appraisal waivers to offering ACE+ PDR for cash-out refinance and certain “no cash-out” refinance mortgages. This change will allow sellers and borrowers to continue to benefit from loans originated without a traditional field appraisal while mitigating risks.
“In accordance with Freddie Mac’s requirements, VALIDITY collects all needed information and data including digital floor plans with dimensions and calculations, comprehensive sets of subject property photographs, property characteristics represented in the property data set, and adverse property conditions that require repairs, alterations, or an inspection by a trained professional,” adds Fowler.
Image: Roger Starnes Sr on Unsplash
