Appraisal readiness steps highlight staff training and quality control 

Expanded rules for appraisal waivers take effect on purchase transactions starting the first quarter of 2025. Announcements were made on October 28, 2024 by Fannie Mae and Freddie Mac, as well as the Federal Housing Finance Agency (FHFA) who stated the policy action “builds upon the long-running success of appraisal waivers, which have helped more borrowers—particularly first-time and low-to-moderate income borrowers—benefit from cost savings and reduced closing times.”