For Fannie and Freddie, appraisals are not always necessary

(RECAP: Do we always need an appraiser to tell us what a house is worth? The country’s two biggest sources of mortgage financing — Freddie Mac and Fannie Mae — think not. With no formal public announcement, Freddie Mac on June 19 began phasing in its plan to transition to appraisal-free mortgages for certain loan applications.)