Appraisal Buzz

FEBRUARY 7, 2022

When relying on information or data provided by other parties, including parties with a financial interest in the sale or financing transaction, the data is to be verified by a disinterested source. The Fannie Mae guidance is clear that appraisers must have sufficient information to develop a credible report.

Appraisal 435

Appraisal Inspection Development Technology 435

Housing Wire

JANUARY 12, 2023

Department of Housing and Urban Development (HUD) has begun developing a process for borrowers seeking Federal Housing Administration (FHA) financing to request an appraisal review when they suspect racial bias. . “We

Reconsideration of Value 382

Reconsideration of Value Development Appraisal Valuation 382

Portland Appraisal Blog

APRIL 14, 2019

Usually this is done via a document known as a “reconsideration of value” (ROV for short). What is a Reconsideration of Value? In short, a reconsideration of value is another appraisal. There is a lot to unpack here, but let’s just focus on the idea that market value is the most probable price.

Appraisal 78

Appraisal Reconsideration of Value Agents Market Value 78

Annarbor Appraisal

SEPTEMBER 6, 2020

Challenging the results of the appraisal for mortgage financing. Lenders offer a formal “Reconsideration of Value” (ROV) process. The first thing to remember as a consumer or real estate agent, is that the client is the lender, not the consumer. When a sale is involved, the valuation may be lower than contracted price.

Mortgage Appraisal 78

Mortgage Appraisal Appraisal Mortgage Reconsideration of Value 78

Housing Wire

MARCH 23, 2022

One challenge in assessing the scope of appraisal bias is rooted in the informal process of challenging an appraised value. HUD will now use the VA’s reconsideration of value process as a model and track reconsideration of value processes for Federal Housing Administration lenders.

Appraisal 414

Appraisal Reconsideration of Value Government Valuation 414

Empire Appraisal Group

MAY 9, 2024

New Requirements Aim to Reduce Appraisal Bias The new Reconsideration of Value policy requires lenders to provide a pathway for borrowers to request reviews of home appraisal valuations.

Reconsideration of Value 78

Reconsideration of Value Appraisal Valuation Training 78

Appraisal Today

NOVEMBER 4, 2022

Reconsideration of value and Appraisers. Excerpts: As residential property prices plateau or decline in various markets and as borrowers have financial problems with fewer financing options, there are more legal claims being filed by borrowers against appraisers and lenders in relation to appraisals for loans made in recent years.

Reconsideration of Value 52

Reconsideration of Value Appraisal Inspection Advertising 52

Birmingham Appraisal

FEBRUARY 20, 2024

Understanding the Role of the Real Estate Appraiser When a home buyer finds a home they would like to purchase and have the need to obtain financing they will work with a lender. By making this information available to the appraiser upfront the appraisal process will go more smoothly.

Agents 86

Agents Appraisal Real Estate Agent Bracketing 86

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.

Reconsideration of Value 450

Reconsideration of Value Appraisal Valuation Appraisal Process 450

Cleveland Appraisal Blog

MARCH 30, 2021

When an appraiser’s opinion of value is below the contract price, that’s when the carping begins. The number of professional reconsiderations of value coming in are increasing. Thoughts on Sales and Financing Concessions – Tim Andersen is The Appraiser’s Advocate (Podcast).

Housing Market 367

Housing Market Marketing Reconsideration of Value Contracts 367

Appraisal Today

APRIL 5, 2024

More significantly, loanDepot.com agreed to an extensive revamping of: (a) its reconsideration of value practices; (b) fair housing/non-discrimination training requirements; (c) statistical tracking of appraisal outcomes; and (d) training and contractual requirements for AMCs and appraisers. to 7% range observed since December.

Appraisal 76

Appraisal Contracts Business Construction 76

McKissock

DECEMBER 28, 2021

Traut notes that the Federal Housing Finance Agency (FHFA) announced in late October 2021 at the Mortgage Banker Association’s annual conference that banks and mortgage lenders will be able to use desktop appraisals in place of traditional appraisals for qualifying Fannie Mae or Freddie Mac backed mortgages. “The Paul, Minn.).

Appraisal 96

Appraisal Reconsideration of Value Real Estate Property Appraisal 96

Housing Wire

JUNE 2, 2023

The Biden administration also announced that it would expand the ability for homeowners to pursue reconsiderations of value (ROVs), saying that federal banking agencies “are in the process of issuing proposed guidance on how financial institutions may integrate ROV policies and controls into their current appraisal processes,” the White House said.

Appraisal 393

Appraisal Reconsideration of Value Valuation Development 393

Housing Wire

MAY 1, 2024

Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA) announced a new policy on Wednesday that will enable mortgage borrowers to “request a re-assessment of the appraised value of their property if they believe that the appraisal was inaccurate or biased,” according to an announcement from HUD.

Reconsideration of Value 440

Reconsideration of Value Appraisal Valuation Realtors 440

Housing Wire

NOVEMBER 30, 2021

Reconsideration of Value (ROV) process. After a summer filled with overwhelming demand and too little appraisal capacity, which increased loan costs and time to close, there is finally light appearing at the end of the tunnel. Borrowers should always have the opportunity for appraisals to be reconsidered in an unbiased fashion.

Appraisal Process 414

Appraisal Process Modernization Appraisal Valuation 414

Housing Wire

MARCH 24, 2022

Fannie Mae and Freddie Mac referred requests to comment to the Federal Housing Finance Agency. Most complaints of undervaluation currently occur through the reconsideration of value process with lenders. I too, would like to come down on the side of data transparency,” Smith said.

Appraisal 483

Appraisal Reconsideration of Value Valuation Government 483