Best Practices for PIWs and Pricing – NEW Download LOX
Check for PIW and Compare Price on All Loans with these Best Practice Tips – NEW download PIW Letter of Explanation (a completed LOX will be required by UW)
Check for Property Inspection Waiver (PIW)
It is always a best practice to run your AUS through DU AND LPA to determine if your borrower is eligible for a Property Inspection Waiver (PIW) from DU or an Automated Collateral Evaluation (ACE) from LPA.
The engines do vary so you can reduce the total number of appraisals needed if you always run both!
REMINDER: if you receive a waiver from either Fannie or Freddie, in order to utilize that waiver your loan must be locked with that same agencies program!
Compare the Price of Both Programs on Every Loan – it is as easy as two clicks!
When running pricing scenario thru Optimal Blue, you can quickly and easily see the difference in pricing by updating the AUS and clicking “Re-Submit”. You can toggle the AUS back and forth between DU and LP without leaving the page!
Download PIW Letter of Explanation