Fannie Lowering Waiver Requirements

[Tim Hicks (Texas)]

I posted this on another topic, but it probably belongs here.

I was wondering what the racial makeup is of these "appraisal waivers." Can there be perceived bias if a disproportionate amount of waivers are only given to certain races?

This goose thinks the gander should answer to the same preposterous rules.

 

[Non Sequitur]

Phil's latest podcast is an interview with Dr. Mark Calabria. If anyone is still interested, he talks about waivers, and from the horse's mouth "None of this was meant to be permanent. It was meant to be a response to a public health crisis." The discussion about waivers starts around the 10:30 mark"

 

[Non Sequitur]

If anyone is interested, Dr. Calabria's book is quoted in the podcast around the 14:11 mark: "Although it is too early to know for sure, I do remain concerned that the appraisal flexibilities we implemented during the pandemic contributed to the record home price increases. I still believe the tradeoffs were worth it but there were significant risks in reducing the use of full appraisals. That is why we limited appraisal waivers to loans already guaranteed by Fannie Mae and Freddie Mac and to loans with significant homeowner equity, usually 30% or more."