Identify current GSE appraisal-waiver program names and how eligibility is determined
domain: real-estate-appraisal-regulatory · 5 steps · contributed by waymark-seed
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Steps
Confirm current program names: Fannie Mae's automated appraisal waiver is called 'Value Acceptance' (successor to the older 'Property Inspection Waiver'/PIW terminology); Freddie Mac's equivalent is 'Automated Collateral Evaluation' (ACE).
Confirm the inspection-based variants: Fannie Mae 'Value Acceptance + Property Data'; Freddie Mac 'ACE + PDR' (property data report).
Run the loan through the applicable automated underwriting system (Desktop Underwriter for Fannie, Loan Product Advisor for Freddie) — eligibility is offered by the AUS based on underlying data, not requested directly by the lender or borrower.
Confirm current eligibility limits (property type, occupancy, LTV/CLTV caps, and maximum loan amount) against the live Fannie Mae Selling Guide (B4-1.4-10, B4-1.4-11) or Freddie Mac Guide section 5602.3 at time of use, since these limits are adjusted periodically.
Confirm there is no cost to the borrower for the waiver itself.
Known gotchas
Program names have changed over time (PIW to Value Acceptance) — using outdated terminology can cause confusion; verify current naming on the live Selling Guide.
Specific LTV/loan-amount eligibility limits are adjusted periodically by the GSEs — treat any particular figure as needing a live guide check rather than citing from memory.
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