New Listings...

[Mark K]

Your comment is very succient and easy to understand....but would you be so kind as to elaborate ;just a bit please...e.g., were wavers actually inflated, and if so why? Does a waiver typically require a "holding period" that prevents a buyer to refrain from selling for xxxx months/years into the future? What is the typical borrower status that warrants a waver rather than an appraisal? Are default rates of waver- versus full-blown appraisal-based loans tracked? ect., etc.? [Sorry if my questions are too generic]

More than likely the owners bought during the high times and they had sufficient down payment, credit score, and income that the lender decided to make a loan based on the borrower, not on the house. They over paid, didn't know it (no appraisal) and now they want to get out while the getting is good.