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.

 

[Airstream]

So who is doing the inspection on hybrids? And who is doing the analysis? I’ve yet to be asked to do a hybrid.

 

[shrubberyvaluation]

So who is doing the inspection on hybrids? And who is doing the analysis? I’ve yet to be asked to do a hybrid.

Same, I imagine none of my clients use them.

 

[NC Appraising]

So who is doing the inspection on hybrids? And who is doing the analysis? I’ve yet to be asked to do a hybrid.

My direct client uses a round robin for traditional appraisals. No AMC.

They use two AMCs for hybrids.

This is a large regional bank.



Due to the logistics, I hear this is how many lenders do it.

Big mortgage bankers....rocket and UWM. They have select appraisers or companies for hybrids

As for now, its either you do traditional or hybrids. As always....I bet there are exceptions.

I've been asked to do two. Crazy waterfront property. The other one was a overimprovement with a yurt. There go to companies declined the hell out of them.

The one with the yurt was upgraded to a full traditional a week later. I just ignored the email.

 

[Justinjla]

If you cherry pick 10 refi loans, you may see 100% waiver offer rate. In aggregate, I can guarentee the offer rate is no where near 50% in any market in the US. Don't let facts get in the way of a good message board rant though.

 

[Terrel L. Shields]

the Permian Basin in Texas,

When the merry go round stops, a lot of folks will lose their home. I saw it in 1982-4 when a buddy of mine who was from Elk City told me his brother living there bought a 2-year-old house for $8,000. The auction was like 40 homes that one bank owned. Midland was the same way. Banks took so many it folded more than one bank including First National bank- one of the state's largest and thought to be a most stable bank.

 

[chad hampton]

The only number that matters is what percentage is a 1004 ordered on for typical LTVs.

 

[alebrewer]

When the merry go round stops, a lot of folks will lose their home. I saw it in 1982-4 when a buddy of mine who was from Elk City told me his brother living there bought a 2-year-old house for $8,000. The auction was like 40 homes that one bank owned. Midland was the same way. Banks took so many it folded more than one bank including First National bank- one of the state's largest and thought to be a most stable bank.

Yeah, last time I was out there (maybe 2018 or so?) Odessa was really looking stressed - even in the midst of the boom. Crazy how different those two towns are. Landman gives ya a good feel for the vibe in those towns.

 

[PhillyNJ]

I’ve have very limited conventional orders…it’s gonna be a problem very shortly.

 

[NC Appraising]

I’ve have very limited conventional orders…it’s gonna be a problem very shshortly.y

You are close to DC. Stop by and lobby Pulte to decrease the LTV to atleast 80/20...for waivers and hybrids.

Then stop by Fannie and Freddie and ask them nicely to adjust the dail on hybrids and waivers. I hear its round and looks like a thermostat.

Fwiw, the Lil mini refi boom is over. Mortgage apps have been down for the past 3 weeks.