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Automated collateral evaluation (ACE)
Automated collateral evaluation (ACE) leverages proprietary models along with historical data and public records to allow lenders to originate certain loans without an appraisal. It’s a contactless option that helps Freddie Mac effectively manage collateral risk while savings lenders and borrowers time and money.
Product Fast Facts:
#1
ACE leverages proprietary models along with historical data and public records to allow lenders to originate certain loans without an appraisal.
#2
ACE can save borrowers on average $500 on appraisal costs.
#3
ACE can help lenders close loans 11-13 days faster on average.