Remove Business Remove Lending Remove Reconsideration of Value Remove Valuation
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The appraisal industry’s governance problem

Housing Wire

The appraisal industry’s “byzantine regulation structure,” according to the report’s authors — experts in fair housing, fair lending and valuation — has stunted the appraisal industry’s understanding of fair housing risk. If you make appraisers mad, it impacts your ability to be able to do business.”.

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New appraisal bias protections apply to reverse mortgage program: FHA

Housing Wire

An announcement on Thursday from HUD and a new Mortgagee Letter (ML) published Wednesday by the FHA clarifies that the policy applies to all Title II single-family programs, including the Home Equity Conversion Mortgage (HECM) reverse lending program.

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How to Respond to a Reconsideration of Value Request

McKissock

To help you out, we’ve put together some practical information to strengthen your responses to a mortgage lender’s appraisal appeal, called a reconsideration of value (ROV). If the error does impact on your opinion of value, acknowledge and revise your appraisal accordingly, as you want your appraisal to be credible.

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Challenging a mortgage appraisal

Annarbor Appraisal

The appraisal is for their benefit, but at the same time, the appraiser needs to complete a fair and supportable valuation. There should never be any bias in favor of any party, or value. When a sale is involved, the valuation may be lower than contracted price. Lenders offer a formal “Reconsideration of Value” (ROV) process.

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Practical Tips for Working With AMCs

Appraisal Today

In my opinion, that’s good business. It can help you get more business from AMCs (and other lender clients). Reconsideration of value and Appraisers. Appraisal Business Tips . Mortgage Lending You decide. Excerpts: Accurate appraisals are essential to the integrity of mortgage lending.

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How to Find Comps With Few Sales

Appraisal Today

I do a lot of estate appraisals, which are not current value. Appraisal Business Tips Humor for Appraisers Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news!! My job was to equalize values so taxpayers had their “fair share” Definitely the best experience I ever had.

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2022 Appraisal Outlook: Appraisers Cast Optimistic Eye On Coming Year

McKissock

Appraisers recently contacted by McKissock tend to agree that the profession will go generally well in 2022, with no major changes to the real estate market and no events on the horizon that could seriously upset appraisers’ business. The top ones are reconsideration of values, and growing prevalence of desktop appraisals.