GSE Waiver & Data Collection Data

[CGinMN]

Just gonna dump some stuff here. Not a ton of surprises. Data collection still represents a small % of waivers.

 

[CGinMN]

This is property data collection as a percentage of the total loan volume, by GSE.

 

[swandel1]

This info is still a bit out of date. They were supposed to ramp up the waiver in March, which we are only half way thru. I think April will be the month to measure as some lendersw ill still be ramping up in March.

 

[CGinMN]

Total number of data collection reports delivered to the GSE is under 5,000 reports per month.

 

[CGinMN]

 

[CGinMN]

This info is still a bit out of date. They were supposed to ramp up the waiver in March, which we are only half way thru. I think April will be the month to measure as some lendersw ill still be ramping up in March.

The latest data I have is from January 2025. Yes, this sets a benchmark for future analysis.

 

[CGinMN]

 

[Joe Flacco]

View attachment 97893

Waiving 40% of appraisals all of a sudden out of the need for turn time just seems so reckless to me.

 

[CGinMN]

It's interesting because we had a refi boom in 2019 when rates went from 5 to 3.5 and you can see waivers spiked to 20%, not even out of volume concerns just because they could. Then yeah the 40% is a combination of 15% purchase, 70% no cash out, and 40% cash out. The cash out refis sounds reckless, but they were done a 70% LTV and under.

 

[CGinMN]

I am more interested in watching the data collection to see if they can scale it. Fannie is now allowing hybrids on 90% of 1004 and 1073s, so it will be interesting to see what happens to the numbers.