Valuation modernization is clearly a priority for Fannie Mae who is, “on a journey of continuous improvement to make the home valuation process more efficient and accurate.” Here at Loanlogics we agree!
Loanlogics is committed to ensuring efficiency and accuracy through the enhancements we make to our LoanHD® audit platform. We continually update our Appraisal Audit test set to keep in step with Fannie Mae requirements.
When Fannie Mae published their updated Taxonomy in November 2022, our LoanLogics team quickly took action updating our Master Findings Library to ensure compliance and adding some of the new categories such as, Desktop Appraisal, Appraisal Misleading, and Appraisal Flexibilities. Loanlogics understands the importance of helping our clients conduct compliant and effective reviews. We support this through our alignment with any changes implemented by Fannie Mae, which we communicate to clients as they occur.
Another step we took last year in support of valuation modernization was to add the Collateral Risk Assessment questionnaire as a tool in the LoanHD platform. This tool conforms with the Fannie Mae Collateral Underwriter® (CU®) 1033 Form. It facilitates the ease of completing the Collateral Risk Assessment, documenting deficiencies and automating reporting to streamline the audit process while delivering quality results.