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 Buzz
SEPTEMBER 6, 2022
Appraisers have been dealing with Reconsideration of Value (ROV) requests from clients for decades. However, in the past couple of years, the industry has experienced a significant increase in the number of ROV requests as well as the sources of the requests.
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Appraisal Buzz
JUNE 7, 2021
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. Josh : The Annual Compliance Training is designed to meet requirements of clients and regulators.
Appraiserblogs
DECEMBER 21, 2021
But I digress… According to the Dodd-Frank law, and the HVCC before it, clients are allowed to challenge the appraiser’s value opinion by submitting what is termed in the law “appropriate” sales to be further reviewed, with the expectation that. White Paper: Requests for Reconsiderations The paper states that…. No thank you.
McKissock
NOVEMBER 16, 2021
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.
Housing Wire
APRIL 6, 2021
For example, one client had a home under contract for $983,000 and the list/appraised value was just $900,000, the LO said. But the most important thing is educating clients from day one. It’s made deals more challenging. I’ve seen a house listed at $1.7 million and sell for $2.03 million,” he added.
Birmingham Appraisal
JUNE 13, 2023
I believe that appraisers and agents have a common goal: to help their clients buy or sell a home. You should never discuss value, however, you can discuss errors in factual information such as the number of bedrooms or bathrooms, or the number of acres the house is located on.
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