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NAR members, including both appraisers and agents, were invited to participate in a stakeholder roundtable with Fannie Mae hosted by NAR in the NAR DC offices. Fannie Mae is in a multi-year project focused on the modernization of their appraisal processes, including review of valuation methods and use of new technology. Fannie Mae reached out for input from REALTORS® as they begin this review.
The roundtable focused on several issues involving the appraisal process, including areas that agents and appraisers see as pain points in the valuation process and how comfortable parties are with a bifurcated, or hybrid, appraisal process by which an appraiser reviews data provided through an outside party or resource. NAR will be working with Fannie Mae throughout this project.