September 25, 2017

Your Congressional Representative needs to hear from you!

Freddie Mac and Fannie Mae have put in place programs that waive appraisal requirements in first purchase and refinance transactions using proprietary models and data from MLS services and public records for the collateral risk decision making process.

According to FNMA and FHLMC this is being done to lower costs and shorten closing times for consumers.  While FNMA has indicated the “appraisal waivers” will represent only a small percentage of their loan portfolio, FHLMC has thus far been unwilling to provide estimates, which could indicate a much larger estimate may be offered these appraisal waivers.  These programs are being described as “for the consumers benefit”.  They could create unnecessary and unacceptable risks for taxpayers and homeowners, and they come at a time when risk mitigation is increasingly important.

Your action is needed.  Please contact Congress about FNMA/FHLMC’s risky Appraisal Waiver Program!  Talking points for the Issue, the Concern, and the Action requested is in the right sidebar and can also be downloaded using the link below. It can be copied and pasted in an email or discussed with your Washington’s Senators and Representative if you prefer to call.

Please use the district finder at to locate your Congressional Representatives.  We recommend a vigorous email campaign to both Senators and Representatives to express concerns with policies that allow for waiver of appraisals.

Additional references for related letters of concern can be found at:  The Appraisal Foundation, The Appraisal Institute and National Association of Realtors websites.

This Alert will also be posted on the ACOW website at

Important Issues are Happening……………………

Our State Appraisal Organization is following these issues so we can support the appraisers in Washington State.  We need to hear from you to know what you are thinking.   Please Join ACOW Today and consider volunteering your concerns and ideas to our cause.  The yearly dues are only $60 which provide benefits of membership including positive and meaningful change in this State.

Click Here to Download Talking Points

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