Posts

12 Day Close With Appraisal Waiver; CHECK ADDRESS PRIOR TO OFFERS!

We can close conforming (Fannie/Freddie) loans in 12 CALENDAR days – easily – IF we get a “Property Inspection Waiver,” aka PIW aka Appraisal Waiver. Savvy agents know this – so they often ask us to run “DU” (Fannie Mae’s automated underwriter) with the property address before they make an offer. If DU gives us […]Read More

Appraisal Waivers; Appraisal Contingency Waivers; & DANGER!

Many lenders are again touting “Appraisal Waivers” as something unique that only they offer. Appraisal or “Property Inspection Waivers” are, however, available to every borrower obtaining a “conforming” loan (that conforms to Fannie Mae and Freddie Mac guidelines). Fannie and Freddie simply use an algorithm that decides when to grant appraisal waivers. If we get […]Read More

Appraisal Waivers – Much Ado About Very Little, So Far

APPRAISAL WAIVERS – FEW AND FAR BETWEEN Appraisal Waivers or “Property Inspection Waivers” (or PIWs) are popping up more often nowadays. This is a good thing b/c they speed up transactions and save borrowers $500 or more. BUT – they are not surfacing so often that we have reason to celebrate. Some lenders are actually […]Read More