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Waiver Stats

Are there any data sources for hybrids?
 
I think the incentive for hybrids is from the mortgage side that isn't a hard money lender. Give the borrower like 4-5 tries. Waiver fails, go to AVM, that failsgo to hybrid PDC+AVM, that fails to to PDC + appraiser, that fails go to full appraisal. Maybe they will get lucky on one of them if the contract is above market value.
 
NC Appraising said:
Are there any data sources for hybrids?
Click to expand...
I can't say...no more access to data than anyone else -.

But consider this - the new forms coming out are an umbrella type 1004 master UAD form with a check box as to whether the appraiser did not or did not inspect, the subject,

That check box, and (perhaps another lingo, idk) is what indicates whether the appraisal is a hybrid or not. This means the two are considered a 1004 form appraisal, making it unlikely that there will be a discourse or separation of data available as to which ones were which ones were appraisals where the appraiser did both parts of the whole.
 
alebrewer said:
And a good resource for appraisal/waiver related data.

Inspection based waivers in December highlight 66% growth last year

The number of inspection based appraisal waivers used by GSE sellers in 2024 was 40K (2.0%) compared to 24K (1.3%) in 2023, a jump of 66.4%.
mtgefi.com mtgefi.com
Click to expand...

alebrewer said:
And a good resource for appraisal/waiver related data.

Inspection based waivers in December highlight 66% growth last year

The number of inspection based appraisal waivers used by GSE sellers in 2024 was 40K (2.0%) compared to 24K (1.3%) in 2023, a jump of 66.4%.
mtgefi.com mtgefi.com
Click to expand...
alebrewer said:
And a good resource for appraisal/waiver related data.

Inspection based waivers in December highlight 66% growth last year

The number of inspection based appraisal waivers used by GSE sellers in 2024 was 40K (2.0%) compared to 24K (1.3%) in 2023, a jump of 66.4%.
mtgefi.com mtgefi.com
Click to expand...
Data appreciated. I'm curious: just in general, are loan terms affected in any way by the valuation source? And, is info available to describe waiver vs live appraisal vs AVM loan default rates?
 
ZZGAMAZZ said:
Data appreciated. I'm curious: just in general, are loan terms affected in any way by the valuation source?
Click to expand...
I think it may be the other way around if I'm understanding your statement correctly.

ZZGAMAZZ said:
And, is info available to describe waiver vs live appraisal vs AVM loan default rates?
Click to expand...
Haven't found that data yet...
 
I’d like to know why every client I have who spends their own money or their private investors money wants a full appraisal. Whereas the one who are backed by the US taxpayer don’t.

I’m hoping by the afternoon on the 20th things change. With any luck pink slips will be sent out that day.
:rof:

Glad this is only part time income for me now. Although I did get another weekly text from RSDS asking if I want to join them for 20/hr. :rof:

I’ll pass.

Finally got to doublecheck a Cuba Cosi sketch for the first time. A very simple rectangular two story single-family home. 2400 ft.². Cubicasi was 60 sf larger. 2-3% off. Better than I thought they’d be. Can’t imagine how wrong they are on larger homes with angles and brick/stone walls, etc. I even used to a tape measure instead of a laser to be sure I was accurate.

It’s amazing how the ignoramuses in suits high up in this profession just eat those sales pitches up from the tech bros.
 
DWiley said:
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Given that the WAIVER approval is based on limited to borrowers with a very strong credit rating and other borrower qualifications, then the default rate risk is based on that, rather than the valuations itself, it would seem. Also up until now higher downpayments or LTV was in play for WAIVERS - that will soon change, however if only the very strongest borrowers are approved it would still affect the default rate vs appraisals were C, B and D level borrowers can be in play -

The article is referenced predicting default based on borrower strength

Yet then the feedback is that WAIVERS have a lower default rate than appraisals - as if the valuation product itself was responsible
 
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