FAQ
Appraisal Waivers Explained: PIW and ACE for Conventional Loans
An appraisal waiver allows some conventional loans to close without a physical appraisal. Fannie Mae calls it a PIW (Property Inspection Waiver); Freddie Mac calls it an ACE (Automated Collateral Evaluation).
Details
The Full Answer
- Available on conventional loans only (not FHA, VA, or USDA)
- Determined by AUS at DU/LP submission — not guaranteed
- Property must have sufficient historical data in AVM models
- Typically available: primary residences, low-LTV refinances, strong credit files
- NOT available: investment properties, new construction, unique properties, high LTV
CTC's Role
How CTC Processing Handles This
CTC Processing checks for PIW/ACE eligibility on every conventional file at the time of DU/LP submission. If a waiver is available, it saves 10–21 days and $500–$1,000 in appraisal cost. CTC notifies the LO immediately when a waiver is available.
Have more questions?
CTC Processing works with Colorado loan officers. Call 970-222-2615 or email ctcprocessingllc@gmail.com.
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