Appraisal Today
MAY 10, 2024
ROV (Reconsideration of Value) Changes – FHA and GSEs GSE Effective date is August 29, 2024 HUD Effective date is September 2, 2024 Editor’s note: This long section includes, In order: McKissock/Dave Bradley post with a good summary including links to HUD and GSE documents. For appraisers, Section II.D.2.
DataMaster
JUNE 2, 2023
Yes, we’re talking about reconsideration of value (ROVs) and revision requests. Be Thorough and Clear in Your Response If there’s anything you take away from this article, let it be this: Communicate clearly. In 2022, the administration launched the interagency task force on Property Appraisal and Valuation Equity (PAVE).
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DataMaster
JUNE 2, 2023
Yes, we’re talking about reconsideration of value (ROVs) and revision requests. Be Thorough and Clear in Your Response If there’s anything you take away from this article, let it be this: Communicate clearly. In 2022, the administration launched the interagency task force on Property Appraisal and Valuation Equity (PAVE).
McKissock
NOVEMBER 16, 2021
With rapid price growth and price bidding wars in hot real estate markets, an increase in appraisal appeal requests is likely. No matter how meticulous you are or how good your appraisal reports are, inevitably, you’ll receive complaints about some of your appraisals. Meet deadlines, if attainable. Take the ROV seriously.
Appraisal Buzz
OCTOBER 4, 2021
This article was originally published in the Fall 2021 Appraisal Buzz Magazine here. As a black appraiser responsible for collateral risk at a mortgage bank, racial bias in appraising claws at me from every direction. Nine years ago, my parents had their home appraised for a refinance transaction.
Appraisal Today
SEPTEMBER 9, 2022
Excerpts: Suggested protocols for responding to Reconsideration of Value requests. Appraisers are still required to comply with USPAP when responding to an ROV request, including the confidential nature of assignment results. My comments : ROVs are a PITA for many appraisers. Reconsideration of Appraised Value.
Appraiserblogs
MAY 3, 2024
Up until recently, there has never been a standardized policy for mortgage loan related Reconsideration of Value (ROV) requests after an appraisal has been submitted. However, these policies are in keeping with the new initiatives surrounding alleged and often unproved appraisal bias and discrimination claims.
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