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FNMA Property Data Collectors Program Violates WV Law

Appraiserblogs

The Fannie Mae Property Data Collectors program seems to have run afoul of West Virginia law. The act specifically states that only a casual or drive-by inspection can be performed when it comes to consumer loans secured by real estate, and no opinion can be rendered as to its value nor any fee charged for such an inspection.

Law 146
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2024 USPAP For Appraisers

Appraisal Today

I always thought the accused could face their accuser in a court of law in America. As this property data collector thing moves along, there continues to be no legitimate reason for Fannie Mae’s motivation to push this so hard other than they want the valuation process fully automated and can pay $25 for an untrained inspector to view a home.