Fannie, appraisers move to the back of the bus.

[Sadie]

I've gotten refi- quotes with two lenders....one quoted $1000 for the appraisal and the other $850. LTV on the property is 30%. I'm guessing "Hybrid" in lender speak means "High Junk Fee."

Ask for your waiver!

 

[Elliott]

AI:
"Core Eligibility Criteria (2025)
• Property Type: Only single-unit (one-family) properties and condos are eligible. Multi-unit homes, manufactured homes, co-ops, and properties with resale restrictions do not qualify.
• Loan Type and Transaction: Eligible for most purchase, limited cash-out refinance, and certain cash-out refinance loans. Construction loans and properties over $1 million are not eligible.
• LTV Ratio: As of 2025, purchase and limited cash-out refinances for primary and secondary residences may qualify up to 90% loan-to-value (LTV). Some programs for “inspection-based” waivers allow up to 97% LTV. Investment properties typically have stricter LTV limits or may be ineligible.
• Borrower Credit: A strong credit profile is required; typically only well-qualified borrowers are eligible.
• Property Data: The property address must have enough recent and high-quality data in Fannie Mae’s database (such as previous appraisals or reliable property records) for an automated valuation to be accepted.
• Recent Appraisals: Sometimes, a prior appraisal on file is required for a waiver offer on a refinance."

I'm still rate shopping.

 

[chad hampton]

Ask for your waiver!

A waiver is probably 350.

 

[Airstream]

My son bought a house. Paid 25,000 over asking. I asked if he got an appraisal. Nope. He got a waiver. I was stunned.

 

[Non Sequitur]

My son bought a house. Paid 25,000 over asking. I asked if he got an appraisal. Nope. He got a waiver. I was stunned.

Not me. This is the perfect example of data cancer that Phil has been exposing for years.

 

[Tom D]

My son bought a house. Paid 25,000 over asking. I asked if he got an appraisal. Nope. He got a waiver. I was stunned.

He will be stunned too, when he tries to refi. Better the waiver than me saying it ain't there to an angry everybody.

 

[Non Sequitur]

He will be stunned too, when he tries to refi. Better the waiver than me saying it ain't there to an angry everybody.

What happens if he gets another waiver?

 

[chad hampton]

Not me. This is the perfect example of data cancer that Phil has been exposing for years.

Me either, I’ve seen it way too many times. It’s a shame folks at the GSEs and others in positions of authority are covering it up like they are. If it were up to me, they’d all go to prison once it’s exposed. But no one will ever be held accountable. No one ever is when it’s a poor old homeowner that gets financially crushed.

If only there were regulatory bodies that were tasked with protecting the public trust.

 

[DWiley]

My neighbor two doors down paid $50,000 over list. No appraisal. No waiver. Just good ole cash Is that also "data cancer"??

 

[Non Sequitur]

My neighbor two doors down paid $50,000 over list. No appraisal. No waiver. Just good ole cash Is that also "data cancer"??

No, that's caveat emptor. Paying over list price, with an appraisal waiver, using a taxpayer backed mortgage is cancer.