ROV (Reconsideration of Value) Changes – FHA and GSEs
Appraisal Today
MAY 10, 2024
This is the statement in the HUD/FHA ML-2024-07: “This included guidance to improve the established process by which FHA program participants may request an ROV if the initial valuation is lower than expected.” OK, so who exactly decided the value should be HIGHER than what the appraiser reported, before an appraisal was ordered?
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