Recursion Releases Report on Property Inspection Waivers

​In March 2020, both Fannie Mae and Freddie Mac began to release information regarding “Property Valuation Method” in their loan-level data releases. Based on the availability of this flag, Recursion Co has developed the GSE Property Inspection Waiver Monthly Report to reflect mortgage underwriting trends in this area, beginning in early October.
 
Below are some sample contents of the report. Recursion has programmed the appraisal waiver eligibility guidelines for each GSE into its Cohort Analyzer. The following charts show the shares of PIW loans for each state by loan purpose. For GSE newly issued loans, the West Coast has an overall higher PIW share than the East Coast.

​The report also provides information about PIW usage. The onset of the Covid-19 pandemic has resulted in an accelerating trend for loans with appraisal waivers across all loan purposes.

​If you would like to learn more details about Recursion’s GSE Property Inspection Waiver Report, please contact inquiry@recursionco.com.