Your cart is currently empty!
MtgeFi Blog
Over 492 Top Mortgage Correspondents Now Using Inspection-based Waivers
This article quantifies the number of top mortgage correspondents using appraisal alternatives in 2023. We publish monthly updates on the actual use of inspection-based waivers by GSE issuers, but to-date had only provided estimates of the utilization by mortgage correspondents. The most recent article for GSE issuers is available Select lenders maximizing inspection-based waivers in…
Select lenders maximizing inspection-based waivers in March 2024
For March 2024, GSE issuance totaled $46.1N, up 24.1% on February. For property valuations, $40.3BN (87.5%) closed using appraisals, up 24.0%, and $5.05BN (11.0%) closed utilizing appraisal waivers, up 28.6% on the prior month. Lenders closed $700MM (1.52%) with inspection-based waivers, up 6.2% on February 2024. Overall, inspection-based waivers were 12.2% of the combined appraisal…
Housing Finance Forecasts now available for March 2024
Fannie Mae and MBA published their housing finance forecast for March 2024 this week. These are estimates of the quarterly purchase and refinance origination volumes for 1st lien, closed-end, single family mortgages in 2024 and 2025. This article provides a brief review of these latest forecasts and highlights the major changes in projected loan originations,…
Inspection based waivers for credit unions are growing in 2024
This article looks at GSE inspection based waivers for credit unions who originate & aggregated loans directly for their balance sheet in 2023, and for issuance with the agencies. This is for 1st lien closed-end 1-4 family residential mortgages. Credit union agency and portfolio lending For the full year there were 388 credit unions delivering…
Inspection-based waivers saved borrowers an estimated $10.8 million in the past 12 months
Inspection-based waivers saved borrowers an average of $375 per loan, and $10.8M in total in the past 12 months. This is based on 28,745 inspection-based waivers being used on loans, and an average borrower fee of $600 for a 1004 single-family residential appraisal, and $225 for an inspection. Inspection-based waivers are being used as an…
Housing Finance Forecast for February 2024
Fannie Mae and MBA published their monthly housing finance forecast for February 2024 last week. Currently these forecasts provide estimates of the quarterly purchase and refinance origination volumes for 1st lien, closed-end, single family mortgages in 2024 and 2025. This article provides a brief review of these latest forecasts and highlights the major changes in…