Waivers 50%. Hybrids 30%.

[NC Appraising]

I will just leave this for anyone who wants to see actual data.

https://www.aei.org/wp-content/uploads/2025/09/GSE-Appraisal-Waiver-Infographic-July-2025-FINAL.pdf?x85095

Keep in mind
1. Refis only
2. The mini refi boom we had time frame.
3. My market area. Cookie cutterville. 30% are paying cash for homes and are putting down over 20%. Therefore most would qualify for a waiver.
4. It was a off the hip rough estimate.