The Appraisal Institute announced that Fannie Mae launched a website focused on its new Appraiser Quality Monitoring process, which evaluates appraisals for data accuracy and consistency. The site gives lenders access to a list of appraisers whose reports will be subject to 100 percent review or no longer accepted by Fannie. Sellers and servicers approved by the government-sponsored enterprise can access the review list of appraisers through the website’s Technology Manager.
Fannie will offer a formal rebuttal process for appraisers whose work has been identified on the review list and who wish to dispute their listing. Appraisers who are sent letters for reports that exhibit a pattern of minor inconsistencies, inaccuracies or data anomalies will not have a formal rebuttal process because the letter is intended for instructional purposes to provide them with an opportunity to improve their work; appraisers can, however, respond to the letter.