Waivers 50%. Hybrids 30%.

[Sadie]

It's always been corrupt. I was a "loan originator" for a national co. back in 1986. We got to pick which appraiser would be assigned. That was it, no quality control or oversite. Most of the employees were aluminum siding and car sales trained.

They weren't that bad back in the bad old days. But there were a certain sub set that could always hit the number no matter what it was. And we all know who they were.

 

[djd09]

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.

just keep letting the mortgage brokers estimate value...what could go wrong

 

[Justinjla]

just keep letting the mortgage brokers estimate value...what could go wrong

Our AVM value determines the decision, not the value entered by the lender. While a lender can input any value, if it falls outside a defined tolerance range from our model value, the offer will not be made. This applies only after all other loan parameters have been satisfied.

 

[Surf Cat]

Our AVM value determines the decision, not the value entered by the lender. While a lender can input any value, if it falls outside a defined tolerance range from our model value, the offer will not be made. This applies only after all other loan parameters have been satisfied.

Okay Robot dude.....I'm fixing your quote to align with Justin's answer....

just keep letting the AVM estimate value...what could go wrong

 

[NC Appraising]

I was just asked to appraise this. I guess it did not qualify for a waiver. Lol

4721 Morehead Rd APT 409, Concord, NC 28027 | MLS #4182202 | Zillow

This 1129 square feet Condo home has 2 bedrooms and 2 bathrooms. It is located at 4721 Morehead Rd APT 409, Concord, NC.

www.zillow.com

This is the crap that I get. Either waivers and hybrids are getting the easy ones or the staff appraisers are getting them.

It ant me.

 

[George Hatch]

According to the AEI summary, their usage of waivers ends at 90% for purchases and at 90% for the no-cash-out refis where they already own the loan (and presumably have a prior appraisal on file).

Their use of waivers ends at 70% LTVs for the cash-out refis.

Prevalence of GSE Appraisal Waivers

The use of appraisal waivers at the GSEs has exploded in recent months and now accounts for over 40% of all valuations.

www.aei.org

 

[NC Appraising]

According to the AEI summary, their usage of waivers ends at 90% for purchases and at 90% for the no-cash-out refis where they already own the loan (and presumably have a prior appraisal on file).

Their use of waivers ends at 70% LTVs for the cash-out refis.

Prevalence of GSE Appraisal Waivers

The use of appraisal waivers at the GSEs has exploded in recent months and now accounts for over 40% of all valuations.

www.aei.org

Now accounts for over 40% of all valuations.

Where did that number come from? Are they saying that in recent months, 40% were waivers?

 

[Mike Ault]

I was just asked to appraise this. I guess it did not qualify for a waiver. Lol

4721 Morehead Rd APT 409, Concord, NC 28027 | MLS #4182202 | Zillow

This 1129 square feet Condo home has 2 bedrooms and 2 bathrooms. It is located at 4721 Morehead Rd APT 409, Concord, NC.

www.zillow.com

This is the crap that I get. Either waivers and hybrids are getting the easy ones or the staff appraisers are getting them.

It ant me.

That assignment might take me a whole racing season.

 

[NC Appraising]

That assignment might take me a whole racing season.

I gave them your name. I said Mike does them all day long for the grand fee of $400.

 

[Mike Ault]

I gave them your name. I said Mike does them all day long for the grand fee of $400.

Heck yes! I'll just sign "Fernando".