It has been 7 months since Freddie Mac’s rollout of ACE+ PDR (automated collateral evaluation plus property data report). It’s the newest addition to a growing number of collateral valuation options being driven by appraisal modernization efforts.
Join Eric Tsai, CEO of Asteroom, and Scott Reuter, Director of Valuation and Single-Family Chief Appraiser at Freddie Mac, as they discuss how ACE+ PDR works and the value it can bring to the industry. They’ll focus on addressing common misconceptions and questions lenders have raised since its rollout, as well as provide some guidance on adopting technology, setting up processes and implementing training to take advantage of the efficiency and affordability of ACE+ PDR.
Don't miss this opportunity to hear from Eric Tsai and Scott Reuter and gain valuable insights on how to navigate the changing landscape of appraisal modernization. Scott will also shed light on potential use cases of PDR in other products Freddie Mac is researching and testing.
Why did Freddie Mac develop the current PDR dataset?
How is ACE+ PDR (waiver + inspection) different from the traditional ACE offering (waiver without inspection)?
What are lenders’ responsibilities in reviewing and ensuring the quality of the PDR?
What types of training and technology may help ensure the quality of the PDR and enable a smoother review process?
Is Freddie Mac considering the use of the PDR for future appraisal modernization efforts?
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Co-founder and CEO of Asteroom
Eric Tsai is the co-founder and CEO of Asteroom, the industry’s first and only 3D tour solution created for real estate agents to use with their smartphones. Prior to starting Asteroom, Eric was a Data Scientist for Meta Platforms (Facebook). In 2019, he left Facebook to found Asteroom after learning the needs of the real estate agents for an inexpensive, easy-to-use, and high-quality 3D tour creation platform. In the past 3 years while the US was going through the development of COVID 19, Eric and Asteroom have partnered with MLS and Realtor.com to help over 25,000 real estate agents create 3D tours and floor plans and publish them online in lieu of open houses. Since the beginning of 2022, Eric has recruited over 5000 realtors who have been creating 3D tours and floor plans on Asteroom and are eager to participate in the newest ACE + PDR offering as data collectors. Asteroom is trusted by 50+ industry-leading AMCs such as Opteon, Appraisal Nation, and more.
Director of Valuation for Freddie Mac
Scott Reuter is the Chief Appraiser and Director of Valuation for Freddie Mac in McLean, Virginia. He is a State Certified-General Appraiser, and has over 30 years of experience in valuation, appraisal and collateral risk management concerns. Scott holds a B.A. from The Ohio State University (June 1982), and has completed the Executive Leadership program at Cornell University, Johnson School of Business (Dec 2007). His previous management experience includes positions with Goldman Sachs, Bank of America and General Electric, prior to being recruited to Freddie Mac in 2016. His team at Freddie leads the effort for ongoing development and refinement of property valuation risk management strategies; underwriting products, and establishing and maintaining a credible quality assurance process across multiple lines of business support. Scott and his team interact with both sellers/clients as well as stakeholders across the appraisal industry to reinforce Freddie’s appraisal quality requirements.