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Appraiser direct engagement is where lenders or authorized third-party entities work directly with licensed appraisers to perform property appraisals for mortgage transactions.
The number of inspection based appraisal waivers used by GSE sellers in 2024 was 40K (2.0%) compared to 24K (1.3%) in 2023, a jump of 66.4%.
Fannie Mae and MBA forecast refinance activity 30-40% higher and purchase loans 5-8% higher in 2025, compared to 2024.
Lenders delivered $1.12BN (1.65%) with inspection based waivers in November, up 2.7% on October, and surpassing $1BN in monthly issuance for the second consecutive month.
In October, Fannie Mae and MBA increased 2025 estimates by ~600,000 loans. With the November release, these increases have effectively been reversed.
Lenders delivered $1.09BN (1.64%) with inspection based waivers in October, up 32.1% on September, and surpassing $1BN in monthly issuance for the first time.