MtgeFi Blog
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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…
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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,…
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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…
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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…
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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…
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GSE appraisal alternatives growing at banks in 2024
This article reviews adoption of GSE appraisal alternatives in 2023 by banks who originate & aggregated loans directly for their balance sheet, and for issuance with the agencies. This is for 1st lien closed-end 1-4 family residential mortgages. Bank agency and portfolio lending For the full year there were 775 banks delivering to the agencies…
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Fannie Mae Valuation Acceptance + Property Data activates 40% of lenders in 2023
The Fannie Mae Valuation Acceptance + Property Data (VA+PD) program finished 2023 with 371 lenders activated. They purchased 12,547 loans with this program representing 52.8% of the 23,751 GSE loans originated with inspection-based waivers. For January 2024, GSE issuance totaled $40.1BN, down 10.7% on the prior month. For property valuations, $35.3BN (88.1%) closed using appraisals,…
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Using housing finance forecasts for 2024-2025 budgeting
HMDA is a great source of data for mortgage originations but has significant limitations if you are trying to build annual budget, such as delayed release, missing institutions and partial reporting. MtgeFi’s new originations model closes these gaps by aligning with agency, bank and credit union quarterly loan volumes to trusted industry housing finance forecasts,…
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HMDA data for budgeting & forecasting – the pros and cons
HMDA is a great source of data for mortgage originations but has significant limitations if you are trying to build annual budget, such as delayed release, missing institutions and partial reporting. MtgeFi’s new originations model closes these gaps by aligning with agency, bank and credit union quarterly loan volumes to trusted industry housing finance forecasts,…
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Freddie Mac ACE+ PDR solutions finish the year higher
For the full year of 2023, 476 lenders have directly delivered loans using the Freddie Mac ACE+ PDR (Automated Collateral Evaluation plus Property Data Report) and Fannie Mae Value Acceptance and Property Data (VA+PD) solutions. This represents 26.0% of the total of 1,833 active GSE sellers in the year. For December 2023, GSE originations totaled…