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.
Appraisal Today
SEPTEMBER 9, 2022
Excerpts: Suggested protocols for responding to Reconsideration of Value requests. Click here to listen to Tim Andersen, MAI’s podcast, “Reconsiderations of Value: Satan’s Own Seed, Right?” The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 5.94
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Appraisal Buzz
JUNE 7, 2021
Josh : The course is taken by staff of lending institutions and appraisal management companies and centers on the need for companies to meet or exceed clients’ and regulators’ minimum training requirements. Buzz : How should AMCs handle a reconsideration of value (ROV)?
Cleveland Appraisal Blog
MARCH 30, 2021
Within the past couple of weeks, I have appraised several properties for purchases, where my opinion of the market value of these homes was significantly below the contract price. When an appraiser’s opinion of value is below the contract price, that’s when the carping begins. But they didn’t.
Housing Wire
APRIL 6, 2021
How hybrid title and valuations help increase lending efficiency. I disputed the appraisal with three more comps along with receipts of all the upgrades over $25,000 and he still refused to adjust the value,” she said. She recently had a deal fall apart due to appraisal. Streamline by combining services. Presented by: Altisource. “I
Birmingham Appraisal
JUNE 13, 2023
Multiple offers do not guarantee that the property will appraise for the contract price Even if the seller accepts the highest offer, there is no guarantee that it will be supported by the market. If there are no comparable sales that support the contract price, this may result in a lower appraised value.
Annarbor Appraisal
SEPTEMBER 6, 2020
When a sale is involved, the valuation may be lower than contracted price. Lenders offer a formal “Reconsideration of Value” (ROV) process. Sometimes there are sales that were showing as under contract as of the effective date of the appraisal that had closed. Sometimes errors occur since humans are human.
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