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Industry Relations Episode 67: What’s Behind the Desktop Appraisal Option—with Nick Conteduca

by Greg Robertson on February 2nd, 2022

On January 19, 2022, Fannie Mae announced a desktop appraisal option that goes live in Desktop Underwriter in March, making it possible to do an appraisal without a physical inspection.

So, what motivated this change in the rules? Why is it important? 

What does a desktop appraisal option mean for appraisers? And how will it impact the real estate industry in general?

NIck Conteduca is the Senior Vice President of Tech Innovation and Subject Matter Expert at Opteon, a global real estate appraisal firm working toward the bold vision of same-day turn times. 

On this episode of Industry Relations, Nick joins Rob and Greg to discuss Fannie Mae’s announcement, explaining what a desktop appraisal entails and the rules around who (or what) provides the information.

Nick weighs in on why there are only 75,000 appraisers in the US, describing how challenging it is to become a licensed appraiser and why the appraisal industry has a love-hate relationship with the new rules.

Listen in to understand why it’s unlikely that lenders will start using AVMs over appraisers and learn how the appraisal industry is evolving—and what technology can do to support appraisers, not replace them.

What‘s Discussed: 

What motivated Fannie Mae’s new desktop appraisal option and why it’s a big deal

What a desktop appraisal entails and the rules re: who provides the information

How information for a desktop appraisal can be verified through virtual inspection technology

Why there are only 75,000 appraisers in the US and how they’re compensated

The appraisal industry’s love-hate relationship with the new desktop appraisal option

Why it’s unlikely that lenders will start using AVMs instead of appraisers

Why real estate data in public records and on the MLS is so inaccurate (and how appraisers correct the data in Fannie Mae’s Uniform Appraisal Dataset)

How challenging it is to become a certified appraiser as opposed to a licensed REALTOR 

The relationships among appraisers, REALTORS and home inspectors

How the appraisal industry is evolving and how tech improvements might affect it

Connect with Nick:


Nick on LinkedIn

Connect with Rob & Greg:

Rob’s Website

Greg’s Website


Fannie Mae’s Desktop Appraisal Option Announcement

Fannie Mae’s Desktop Underwriter

Fannie Mae’s Desktop Appraisal FAQ’s

CubiCasa Floor Plan Software

Fannie Mae’s Uniform Appraisal Dataset

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