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MtgeFi Blog
Amarillo National Bank now Top Texas Community Bank in 2024
Amarillo National Bank is the top Texas community bank, with assets of $9.56BN. Texas ranks first in the US with a total of 313 banks and $295BN (8.4%) in total assets, with Illinois second and California third by total assets.
Inspection based appraisal waivers in March – up 57% on Rocket and UWM growth
Lenders delivered $931M (2.05%) with inspection based appraisal waivers in March, up 42.1% on February. This is the first month where inspection based appraisal waivers have surpassed 2% of loans delivered since the program started.
Byline Bank is the Top Illinois Community Bank in 2024
Byline Bank is the top Illinois community bank, with assets of $9.48BN, up 6.85% Year-on-Year (YoY) from $8.87BN in December 2023, and 0.74% Qtr-on-Qtr (QoQ) from $9.41BN in September 2024.
Over 2,500 lenders ready to use hybrid appraisals now
Agency and non-agency lenders are utilizing hybrid appraisals immediately, with 585 GSE direct sellers and 2070 correspondents already enabled. Lenders are using and implementing hybrid appraisals to tackle slower turn times and higher fees that exist today in certain markets.
The US home equity TAM now projected at 2.15 million loans in 2025
The US single family home equity TAM for originations, including 2nd mortgages and home equity lines of credit (HELOCs) is projected to be 2.2 million loans in 2025.
Inspection based appraisal waivers in February – down 11.8% from a year ago
For February 2025, GSE issuance totaled $41.6BN, down 29.8% on January, but up 9.0% on February 2024. For property valuations, $35.4BN (85.1%) closed using appraisals, down 29.6%, and $5.6BN (13.5%) closed utilizing appraisal waivers, down 31.5% on the prior month. Lenders delivered $592M (1.42%) with inspection based waivers in February, down 30.8% on January. Overall,…