Fannie Mae Launches Pilot to Speed up Mortgage Process with Hybrid Appraisals

Fannie Mae is testing a new program which would have appraisers assess a property without physically visiting it; appraisers will rely on local market data along with details about the specific property which would include details from the home inspection; the result would be what is being called a hybrid appraisal; Fannie Mae didn’t comment on the program but if it is successful it would speed up the mortgage process while also reducing costs. Source