GSE Waiver & Data Collection Data

[Mejappz]

George is cool, he’s reading the posts out of order.

The reason you have Fannie mouthpiece's on the forum is because they are in trouble big trouble.

 

[CGinMN]

As for the other poster you're mentioning, I'm a little surprised anyone from Fannie or Freddie would engage in a discussion about the business aspect of their programs on an open forum.

I'm not sure what you're seeing, I quoted Justinjla. Either way, I'm glad we're both a little perplexed that he's here.

Let’s not discourage him from being here, even if it is to engage in some chicanery.

 

[glenn walker]

Recognizing that Fannie offers waivers and hybrids to their lender clients doesn't mean someone is saying they agree with their policy. The messenger just reports the facts and has no input to Fannie or Freddie's policy making decisions.

Just like DW he works for Freddie Mac but has no direct control over what products are created or required.
Giving us information is a positive and even when we may hate the product don't shoot the messenger.

 

[CGinMN]

I like that DW and Justin are here engaging in these topics. That said I believe they definitely agree with the use of these products. The individuals working on them have many years invested in testing and implementation, and they very much want them to broadly succeed. They have input over what products are developed and they partner with AMCs to develop pilot programs most of us aren’t aware of, because (I assume) they’re using NDAs.

 

[OSU Beavers]

All those photos and ratings for only $45.

 

[Non Sequitur]

"Overall, inspection based waivers in March were 13.2% of the combined appraisal waiver (non-appraisal) solutions by loan balance, the same as last month. By number of loans delivered, inspection-based waivers were 18.7% of all waiver solutions.

Combined use of inspection based waivers and appraisal waivers in March was 15.5% by balance and 17.5% by loan count."

"Fannie Mae Valuation Acceptance + Property Data market share of inspection based waivers in March was unchanged at 74.7% on volume of $697MM, up 89.5% on February. There are 404 lenders who have delivered loans through Fannie Mae Valuation Acceptance + Property Data, including 218 independent mortgage companies and 115 banks and 72 credit unions. A total of 74 lenders issued loans using inspection based appraisal waivers in February with Valuation Acceptance + Property Data, up 19.4% on February.

Freddie Mac ACE+ PDR (Automated Collateral Evaluation plus Property Data Report) market share for inspection based waivers in March was 25.3% on volume of $235MM, up 4.8%. Freddie Mac participation is at 459 lenders, including 178 banks, 38 credit unions, and 241 non-banks. A total of 105 individual lenders issued loans using inspection based waivers with ACE+ PDR, down 4.5% on the prior month."

"For bank sellers, 69.0% have used appraisal waivers and 25.5% have used inspection based waivers to deliver loans to the GSEs in the past 2 years. In March 38.2% used appraisal waivers and 7.0% used inspection based waivers.

For credit union sellers, 72.6% have used appraisal waivers and 23.7% have used inspection based waivers to deliver loans to the GSEs, again in 2023 and 2024. In March 40.8% used appraisal waivers and 6.4% used inspection based waivers.

For nonbank sellers, 79.5% have used appraisal waivers and 45.9% have used inspection based waivers to deliver loans to the GSEs. In March 66.8% used appraisal waivers and 19.5% used inspection based appraisal waivers."

"Rocket Mortgage and UWM grew 101.5% and 69.6% respectively, consolidating their dominant use of these solutions, and suggesting high levels of automated acceptance of AUS offers during origination."

Inspection based appraisal waivers in March - up 57% on Rocket and UWM growth

Lenders delivered $931M (2.05%) with inspection based appraisal waivers in March, up 42.1% on last month and 36.2% on March 2024

mtgefi.com

 

[TC]

You think a 50% LTV loan, solid borrower, refinance transaction where we have a recent prior appraisal, robust market data, etc. needs a full appraisal?

Nope, never did even 30 years ago.

 

[Joe Flacco]

Inspection based waivers 18% of all waiver solutions and all waiver solutions being 17% of loan count means inspection based waivers is like 3% of total loan count.