Freddie Mac’s ACE + PDR has come into effect – how will appraisers be affected? Join us for a free webinar on July 28thth 2:00 pm (Eastern Time), “ACE + PDR: What does this mean for you and what is the future of assessment data collection?With host industry analyst and consultant Joshua Walitt and Asteroom co-founder Eric Tsai, we’ll learn all about this new GSE change. I sat down with my hosts Joshua Walitt and Eric Tsai to get inside information for this next webinar.
Buzz: What is your background in the industry?
Josh Walitt: I am the Chief Consultant for Walitt Solutions. I provide short-term and long-term consulting services related to evaluation, education, reviews and research. With over 20 years of experience, I am SRA and AI-RRS designated by the Association of Appraisers, a member of the National Association of Appraisers (MNAA), and a Certified Distance Education Instructor (CDEI) certificate. I am. I’m AQB. He is a Certified USPAP Instructor, an Appraisal Institute Approved Instructor, and a member of the Colorado Real Estate Appraisal Commission.
Eric Tsai: In 2019, I left my previous role on Facebook to join the real estate industry by establishing the industry’s first and only 3D tour creation platform designed for realtors. Over the last three years, Asteroom and I have helped more than 25,000 realtors create 3D tours and floor plans on their smartphones while the United States is experiencing blockades and COVID19. Since 2022, I have hired more than 5,000 agents at Asteroom as a data collector after learning about the challenges of appraiser shortages and the GSE initiative on appraisal modernization.
Buzz: What is Freddie Mac’s ACE + PDR?
Josh: ACE + PDR is a Freddie Mac offering for specific refinancing transactions, combining Real Estate Data Reports (PDR) with Automatic Collateral Valuation (ACE). The PDR reflects the data physically collected by an appraiser or another data collector.
Buzz: What are the potential impacts of an appraiser?
Eric Tsai: The purpose of modernizing the appraisal is not to replace the appraiser, so that the appraiser can spend more time analyzing the property using the collected data rather than collecting the data himself. Is to do. In the near future, appraisers may spend a significant portion of their time in front of their home computer or wherever they want to go. The appraiser may be able to complete more assessments and earn more per day without having to drive a car to collect data. However, appraisers need to be accustomed to working with different types of data and must address the fact that not all data collection technologies and operators are on the norm.
Buzz: How are new technologies impacting the future of the appraisal industry with respect to this new process?
Josh: Several developers have created an inspection app that scans properties and produces a 3D representation of floor plans and improvements. Beyond hybrid and desktop scenarios, some appraisers have already tested these apps and used them for complete evaluation to compare and contrast the results with traditional tape or laser measurements. The characteristics and scanned representations available in a consistent dataset allow appraisers, lenders, and other participants to digest and use the data more efficiently.
Buzz: Why do appraisers need to attend a webinar?
Josh: If the data collectors are not appraisers, how can they know what they know to identify and report during a real estate inspection? Freddie Mac and individual lenders require data collectors to be trained in asset characteristics, materials, components, and issues or concerns that need to be identified when visiting the asset. Proper training will help you collect property data and ensure report consistency.
Eric Tsai: In this webinar, you’ll learn about my story of working with a realtor to create an Asteroom and hire it as a real estate data collector. Learn how 3D tours can provide you with superior quality real estate data and present it as if you were in real estate. Similar to how Asteroom’s 3D tours are used to validate report data, Asteroom also has an extensive quality assurance process that examines 3D tours and validates data collector inputs before passing the data to you and your creditors. I have.
Join us for the webinar on July 28th.th 2:00 pm (Eastern Time), “ACE + PDR: What does this mean for you and what is the future of assessment data collection?Can’t you make that time? Sign up to receive your recordings directly in your inbox.