Waivers 50%. Hybrids 30%.

[George Hatch]

Bad bankers. Disavow.

 

[djd09]

That's obviously the plan. The avg degree of difficulty has already been on the rise for some time now.

why would i want that appraisal...send it to your AMC/gse/AQB buddy

 

[Terrel L. Shields]

Even at 50% waivers, it was taking 2 months to get appraisals from markets with sparse appraiser populations.

Where? N. Dallas? We used to give 2 weeks to do a report, then they demanded 72 hours but in either case, they didn't close the loan for a month, and your check arrived some days or weeks later.

 

[NC Appraising]

Homebuyers sue D.R. Horton for alleged deceptive lending

Plaintiffs aim to stop what they describe as a scheme that encouraged homebuyers to purchase more expensive homes with larger mortgages.

www.housingwire.com

Builder owned or preferred lenders. Lol

 

[alebrewer]

Where? N. Dallas? We used to give 2 weeks to do a report, then they demanded 72 hours but in either case, they didn't close the loan for a month, and your check arrived some days or weeks later.

Several parts of the country actually. The valley in Texas, the Permian Basin in Texas, the hill country in Texas, anywhere in OR, WA, ND, SD, MT, ME, NH, VT, UT, or ID. 4+ weeks in almost ALL markets. Not with the same company I was then, but we were paying $1k (plus normal fee) for rushes (which, at that time was 2 weeks).

 

[djd09]

Appraisal Waivers Explained – Tips On How to Get One​

An appraisal waiver is like manna from heaven, finding money in your coat pocket, and winning the lottery – all combined. But you need to know what you’re doing to get them. I’m going to give you the inside scoop on appraisal waivers, so stay tuned.

What we’re going to talk about:

• What is an appraisal waiver?
• Who gives them out?
• How do you get an appraisal waiver?
• Strategies to increase your chances of getting one
• But my lender guaranteed I wouldn’t need an appraisal

What is an Appraisal Waiver and Who Gives Them Out?​

tell them jesse...

 

[shrubberyvaluation]

Its not capitalism. It may be "crony capitalism" or worse yet corrupt quasi-government bureaucratic meddling (think 'FANNIE'). Do you really think that if a change as radical and onerous as "The UAD 3.6 Abomination" had been floated as a proposal in a true private enterprise it would have "passed muster"? BS. It would have come back with red ink all over it and the command to - SIMPLIFY IT.

I guess it depends if they felt they had a market to sell information we gather.

 

[Tim Hicks (Texas)]

Per the owner of a mortgage company. I asked him to give me a rough estimate of the amount of waivers and hybrids at my appointment today.

For the mini refi boom we had, he said 50% waiver, 30% hybrids.

Those numbers are for his firm and market....may not represent all markets.

He actually said that waivers, in his opinion we're crazy. He has been in the business for 30 years. I said yeah, it's the big lenders that are pushing them. He agreed.

As for AMCs, he said that the AMCs are screwing the borrowers.

He pondered why the AMCs can charge $800 for a given price range for a home and then $1,000 for a higher price range for a home, but then be able to pocket the difference if they could find an appraiser willing to do it at the lower price?

I said they are thieves. They need to give the overages back to the borrower.

I said dunno, needs to be a class action lawsuit....borrowers suing lenders and AMCs.

Did this client allow appraiser trainees to inspect? If they did not, why would they accept a hybrid?

 

[shrubberyvaluation]

Did this client allow appraiser trainees to inspect? If they did not, why would they accept a hybrid?

The excuse I hear is they are lower risk, if so why not allow a trainee for a lower risk appraisal instead?

If there is a lower risk medical operation, do they pull some random new pharmacy tech to prep the operation and diagnose the patient that will do it the cheapest? I mean they are in the medical field kinda and they can just give them a list. Oh yea and make sure the surgeon can't question any of it.

 

[chad hampton]

Did this client allow appraiser trainees to inspect? If they did not, why would they accept a hybrid?

Funny how that works.