Hybrid Appraisals, also referred to as Bifurcated Appraisals, are valuations completed by a Licensed/Certified appraiser that is similar to a desktop appraisal. It is a shorter appraisal form than the traditional appraisal and combines the ease of desktop valuations with the precision of property data reports. This approach offers lenders thorough insights while maintaining compliance.

Supported by Fannie Mae and Freddie Mac (the government-sponsored enterprises or GSEs), a third-party property data collector (PDC) or appraiser performs an on-site inspection of both the interior and exterior of the subject property. Appraisers then evaluate a recent property data report and other trusted data sources, to provide a comprehensive analysis without requiring a personal inspection.

For a traditional appraisal, the appraiser completes both the field inspection and market data analysis. By outsourcing the fieldwork for a hybrid appraisal, appraisers can focus on analyzing the local market and comparable sales instead of multitasking homeowner appointments and extensive time driving to assigned properties.

Hybrid Workflow: 

Appraisal orders for the 1004 Desktop can be assigned to an appraiser, and once accepted, the same order can then be assigned to a PDC. The PDC goes onsite and walks through the property to gather data and images required. The PDC creates a detailed interior floor sketch of the subject property. Once complete, the data and images are returned to the appraiser, who then completes their report. It’s simple, secure, and reliable.  

Hybrid Appraisal order is created 
Order sent to Appraiser and Property Data Collector (PDC) 
PDC sends a report to Appraiser 
Appraiser completes Appraisal

Maximizing the Benefits of Hybrid Appraisals:

Streamline appraisal processes which saves time and resources for lenders. Help overcome appraiser shortages in rural and high-volume areas that cause delays. Combining physical inspections and property data reports, provide a more well-rounded analysis.

Virtual inspections offer flexibility and convenience without compromising accuracy. Submit orders seamlessly through the UCDP portal. Quicker to complete and less expensive than a traditional appraisal Excellent opportunity for supervisory appraisers to advance a trainee’s experience on completing inspections. Some appraisers may prefer to perform field work, while others prefer the analysis part of the appraisal process. Helpful for appraisers who have mobility or health concerns, or those who want to semi-retire and complete appraisals without having to complete inspections. This solution offers a streamlined, accurate, and compliant appraisal process while decreasing underwriting revision rates and reconsidering value requests for lenders and appraisal management companies. 