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
MARCH 23, 2023
Department of Housing and Urban Development (HUD) Secretary Marcia Fudge and White House Domestic Policy Advisor Ambassador Susan Rice, the PAVE task force revealed its action plan one year ago and claims that its efforts have amounted to “critical progress” in its efforts to make the homebuying process more equitable for people of color.
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Housing Wire
JANUARY 24, 2022
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. The regime has limited its accountability and enforcement systems. That process varies from lender to lender.
Housing Wire
MAY 2, 2024
Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA) this week announced a new policy enabling mortgage borrowers to “request a re-assessment of the appraised value of their property if they believe that the appraisal was inaccurate or biased.”
Birmingham Appraisal
FEBRUARY 20, 2024
The lender then obtains an appraisal to make sure that the property they are lending on, which is the collateral for the loan, is worth what they are paying for it. The Purpose and Components of a Comparative Market Analysis (CMA) The CMA is a tool that real estate agents use to develop a list price for the house they are selling.
Housing Wire
MARCH 9, 2021
The Department of Housing and Urban Development (HUD) has announced that JPMorgan Chase has come to an agreement with a Black homeowner who claimed the bank’s mortgage division – relying on a valuation done by an appraiser – valued her home at an amount lower than its actual worth because of her race.
Birmingham Appraisal
SEPTEMBER 15, 2022
A mortgage appraisal is an appraisal that is done for mortgage lending purposes. Banks are typically absolved from discrepancies between the amount they lend and the true market value of the home meaning that they will not be held responsible to the buyer. What is a Mortgage Appraisal?
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