ACE+ PDR is one of five collateral valuation offerings that allows lenders to originate eligible loans without an appraisal. Additional property information is physically collected on-site by trained data collectors using the proprietary Freddie Mac PDR dataset, in lieu of an appraisal.
ACE+ PDR Expands Eligibility
Effective August 2, 2023, this collateral valuation option will expand to include eligible purchase transactions with an LTV up to 80%. For eligible loans, lenders can skip the appraisal.
Why use ACE+ PDR?
Alleviate Appraiser Capacity Concerns
Receive Value Rep and Warranty Relief
Decrease Borrower Costs and Turn-Times
How ACE+ PDR Works
- Step 1: Submit loan to Loan Product Advisor® (LPASM) before ordering an appraisal.
- Step 2: Review the LPA Feedback Certificate to see whether the loan is eligible for ACE+ PDR.
- Step 3: If eligible, order a PDR.
For each loan using ACE+ PDR, you must obtain a PDR that includes all the data listed in the Freddie Mac PDR dataset and the language included in the PDR Modified Certifications and Assumptions and Limiting Conditions.