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.
Housing Wire
JANUARY 12, 2023
HUD’s in-development appraisal review process, which was announced on Thursday, is part of the Reconsideration of Value (ROV), the FHA policy that lenders must follow when a borrower raises concerns about unlawful discrimination in residential property valuations.
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Housing Wire
MAY 20, 2024
While there are dozens of changes published throughout the full document, Section II B that encompasses guidance for the HECM program received numerous updates on several different topics. An extensive update was published to general reconsideration of value (ROV) requirements.
Housing Wire
MARCH 26, 2024
Court documents filed on March 22 show that the lender and plaintiffs Nathan Connolly and Shani Mott — the latter a scholar of Black studies at Johns Hopkins University who died March 12 in Baltimore of adrenal cancer — agreed with a voluntary dismissal with prejudice.
Housing Wire
MARCH 9, 2021
The finance giant will also begin training home lending advisors and client care specialists in the reconsideration of value process and fair lending issues related to appraisals. Under the conciliation agreement , JPMorgan will pay the homeowner, a Black woman, $50,000.
Appraisal Buzz
JUNE 7, 2021
Buzz : How should AMCs handle a reconsideration of value (ROV)? Josh : If the AMC knows how to handle a revision request, they already know how to handle a reconsideration of value (ROV). That’s because a reconsideration of value is merely a specific type of revision request.
Housing Wire
MARCH 23, 2022
One challenge in assessing the scope of appraisal bias is rooted in the informal process of challenging an appraised value. HUD will now use the VA’s reconsideration of value process as a model and track reconsideration of value processes for Federal Housing Administration lenders.
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