Stewart Valuation Intelligence, LLC is Verified to Support Freddie Mac’s Property Data Report with VALIDITY Pro

Rhea-AI Summary

Stewart Information Services Corporation (NYSE:STC) announced that Stewart Valuation Intelligence, LLC (SVI) has been verified to support Freddie Mac’s new Property Data Report (PDR) using its VALIDITY Pro application. This application allows trained real estate brokers to conduct comprehensive property inspections required by Freddie Mac, enhancing reliability for clients. Starting July, Freddie Mac's transition to ACE+ PDR will facilitate appraisals for cash-out refinances without traditional field appraisals. This move aims to reduce risks while streamlining the mortgage process.

Positive

• Stewart Valuation Intelligence, LLC has been verified by Freddie Mac, enhancing credibility.
• VALIDITY Pro streamlines the data collection process for Property Data Reports.
• The transition to ACE+ PDR mitigates risks for lenders and borrowers.

Negative

• None.

HOUSTON--(BUSINESS WIRE)-- Stewart Information Services Corporation (NYSE:STC) today announced that Stewart Valuation Intelligence, LLC (SVI) has been verified to support Freddie Mac’s new Property Data Report (PDR) with VALIDITY Pro and its national panel of highly trained real estate brokers and agents.

VALIDITY is the company’s family of inspection applications, optimized for mobile phones or tablets. With VALIDITY Pro, an SVI broker or agent conducts a full property inspection to collect Freddie Mac’s required data for the PDR.

“Being an Appraisal Management Company (AMC) with the technology and dedicated broker network needed to complete the reports for our clients is a huge advantage,” said Aaron Fowler, President of Stewart Valuation Intelligence, LLC. “Our customers don’t have to rely on unknown third-party providers. All our PDRs are produced with our network partners using our Freddie Mac verified VALIDITY Pro application.”

Starting in July, Freddie Mac transitioned from offering automated collateral evaluation (ACE) appraisal waivers to offering ACE+ PDR for cash-out refinance and certain “no cash-out” refinance Mortgages. This change will allow Sellers and Borrowers to continue to benefit from loans originated without a traditional field appraisal while mitigating risks.

“In accordance with Freddie Mac’s requirements, VALIDITY collects all needed information and data including digital floor plans with dimensions and calculations, comprehensive sets of subject property photographs, property characteristics represented in the property data set, and adverse property conditions that require repairs, alterations, or an inspection by a trained professional,” added Fowler.

For more information about how Stewart Valuation Intelligence, LLC supports the GSEs and Appraisal Modernization, please visit valuationintelligence.io.

About Stewart

Stewart (NYSE:STC) is a global real estate services company, offering products and services through our direct operations, network of Stewart Trusted Providers™ and family of companies. From residential and commercial title insurance and closing and settlement services to specialized offerings for the mortgage industry, we offer the comprehensive service, deep expertise and solutions our customers need for any real estate transaction. At Stewart, we are dedicated to becoming the premier title services company and we are committed to doing so by partnering with our customers to create mutual success. Learn more at stewart.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220921005212/en/

John Chattaway, Stewart Media Relations

(713) 625-8180; mediarelations@stewart.com

Source: Stewart Information Services Corporation

FAQ

What is Stewart Information Services Corporation's role with Freddie Mac's Property Data Report (PDR)?

Stewart Information Services Corporation provides support for Freddie Mac's PDR through its Stewart Valuation Intelligence, LLC using the VALIDITY Pro application.

How does VALIDITY Pro enhance property inspection for Freddie Mac?

VALIDITY Pro allows trained brokers to conduct full property inspections and collect essential data required for Freddie Mac's PDR.

What changes did Freddie Mac implement regarding property appraisals?

Freddie Mac transitioned from automated collateral evaluation (ACE) appraisal waivers to ACE+ PDR for refinances, promoting a streamlined process without traditional appraisals.

When did Freddie Mac's new ACE+ PDR take effect?

The new ACE+ PDR took effect in July.