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Richey May Advisory provides the full spectrum of transformative solutions for your business. From Technology and Risk Management to Specialty Audit Services and more, Richey May Advisory has the solutions you need to find and focus on your competitive advantage.

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Richey May Advisory

Richey May Advisory provides the full spectrum of transformative solutions for your business. From Technology and Risk Management to Specialty Audit Services and more, Richey May Advisory has the solutions you need to find and focus on your competitive advantage.

Learn More

Contact Us

Richey May Headquarters
9780 S Meridian Blvd., Suite 500
Englewood, CO 80112
Directions
303-721-6232

Question or comments?  Click here to fill out our inquiry form.

Richey May Advisory

Richey May Advisory provides the full spectrum of transformative solutions for your business. From Technology and Risk Management to Specialty Audit Services and more, Richey May Advisory has the solutions you need to find and focus on your competitive advantage.

Learn More

Richey May Advisory

Richey May Advisory provides the full spectrum of transformative solutions for your business. From Technology and Risk Management to Specialty Audit Services and more, Richey May Advisory has the solutions you need to find and focus on your competitive advantage.

Learn More

Contact Us

Richey May Headquarters
9780 S Meridian Blvd., Suite 500
Englewood, CO 80112
Directions
303-721-6232

Question or comments?  Click here to fill out our inquiry form.

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Richey May Headquarters
9780 S Meridian Blvd., Suite 500
Englewood, CO 80112
Directions
303-721-6232
Mortgage

Freddie Mac Begins Using Automated Collateral Evaluation for Purchase Transactions

Articles by: Richey May, Aug 23, 2017

August 2017

Effective September 1, 2017, Freddie Mac will begin using automated collateral evaluation (ACE) to determine whether an appraisal is required for a purchase transaction. Freddie Mac previously used ACE only for refinances, but this rollout to purchases as well could create benefits for both borrowers and lenders. Borrowers could see less money required to close a loan and closing speeds improved by 7-10 days. As for lenders, with shorter lock dates, the period subject to market movement is also shorter, therefore allowing adjustments to hedging strategies based on the duration/period of exposure. And with less cost to close for the borrower, could that also mean an increase in origination fees? Time will tell.

 

Read more about Freddie Mac and their use of ACE.