For desktop appraisals, the appraiser relies on third-party data available from their desk rather than traveling to the home for an inspection and measurements.
Announcing the decision at the Mortgage Bankers Association Annual Convention and Expo in San Diego, FHFA’s acting director Sandra Thompson said that while the temporary rules allowing desktop appraisals expired several months ago, the agency plans to allow remote appraisals for purchase loans beginning early next year.