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ROV (Reconsideration of Value) Changes – FHA and GSEs

Appraisal Today

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.

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Free Webinar: Components of AMC Training by Josh Walitt

Appraisal Buzz

Depending on the client’s needs, my work includes coaching, customized training, quality assurance, continuing education, disciplinary action assistance, internal audit, and other customized projects. In 2015, I designed the Market Machine, a technological tool used by appraisers and other valuation professionals.

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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). USPAP prohibits an appraiser from discussing the results of an appraisal with anyone other than the client or parties designated by the client.

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Practical Tips for Working With AMCs

Appraisal Today

It can help you get more business from AMCs (and other lender clients). I keep my advertising clients and this newsletter’s content separate. Reconsideration of value and Appraisers. Architect James Kluttz designed the place for himself and his family in 1987. Mortgage Lending You decide.

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How to Find Comps With Few Sales

Appraisal Today

Take Note of GSE Requirements To read more, Click Here My comment: If you do residential lending appraisals, read this article! Allow the appraisers to speak directly to the lender/client, instead of going through the third-party agent. This will save time, especially when consumers request a Reconsideration of Value.

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Reconsideration of Value and Appraisers

Appraisal Today

Excerpts: Suggested protocols for responding to Reconsideration of Value requests. Maintain USPAP compliance – Confirm the ROV request came from your client, either directly or through the client’s AMC, acting as an agent for the client, or other party designated as an agent by the client.