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 More Common Now; Here’s Why

Prior to 2016, every mortgage required an appraisal.  That changed, however, in 2016 when Fannie Mae started to offer “Property Inspection Waivers” or “PIWs.” In 2017, both Fannie and Freddie started to offer PIWs for both refi’s and purchases. I blogged about this in early 2018, pointing out two things: PIWs are less common than […]Read More