Property Data Report (PDR) Update

Written by on June 24, 2022

Recently, Freddie Mac announced that starting July 17, 2022, they’ll transition from offering automated collateral evaluation (ACE) appraisal waivers to offering ACE+ PDR (property data report) for cash-out refinance and certain no cash-out refinance mortgages. 

You can see the full announcement from FreddieMac on 6/15/22 here:  

You can also view the original announcement from 3/16/22 here:  

Some appraisers have said they don’t plan on performing these PDRs, while others have told us it might be something they could have a trainee do, or possibly pick a few up for additional income.  

As with all these initiatives, time will tell how prevalent this becomes. And whatever your plans are, as your appraisal software provider, we’re committed to making sure you have the tools, training, and support you need to do your work efficiently.  

To start, we’re working on adding the PDR option to TOTAL for Mobile to allow you to quickly and easily complete an entire PDR on your mobile device in the field. Initially this will be available for iOS only. Once appraisers are actually completing these, we’ll incorporate your feedback into additional enhancements to support you even better. 

As we approach July 17th, we’ll keep you in the loop on these updates, and we even plan to share some appraiser-generated ideas on how to best use this new option to your advantage. So, keep an eye out for more information, and let us know your thoughts, ideas, or suggestions. 

We’ll also have a live webinar with Joel Baker and Shawn Telford to discuss the PDR and answer questions. Make sure to follow our Facebook page to be notified. 

You can also check out our PDR FAQ for more information.