Appraisal Buzz
MAY 6, 2024
The rule change will enable borrowers to request a re-assessment of the appraised value of their property if they believe that the appraisal was inaccurate or biased, HUD says in a release. These disclosures must be provided at both the time of mortgage application and at the presentation of the appraisal.
Housing Wire
MARCH 26, 2024
Instead of Connolly and Mott greeting the appraiser, a white colleague was present during the process. They conducted a “whitewashing” experiment, replacing family photos with pictures of white friends and colleagues. The home was appraised for $750,000, almost 60% higher than the initial appraisal performed.
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Appraiserblogs
MAY 3, 2024
The implication that if the VALUE is too low, then there must be “material deficiencies” present, is deeply troubling! Up until recently, there has never been a standardized policy for mortgage loan related Reconsideration of Value (ROV) requests after an appraisal has been submitted. The GSE’s have similar policies.
Housing Wire
FEBRUARY 24, 2023
Concerns of racial bias , a lack of standardization for consumers in the reconsideration of value process and unclear authority in the governance structure are all present amidst increased requests from lenders for a more efficient process that provides value certainty sooner.
Housing Wire
AUGUST 11, 2020
Most AMCs offer a process called a Reconsideration of Value Request, or ROV, that when properly presented, encourages the appraiser to review the work based on additional appropriate data submitted.
Housing Wire
APRIL 6, 2021
Presented by: Altisource. “I I disputed the appraisal with three more comps along with receipts of all the upgrades over $25,000 and he still refused to adjust the value,” she said. How hybrid title and valuations help increase lending efficiency. Streamline by combining services.
McKissock
FEBRUARY 13, 2023
James and Jeff will cover current VA appraisal topics including desktop appraisals, reconsiderations of value, and the ways that the VA is monitoring appraisal quality. Invest in your professional development with one-hour, non-credit webinars presented by experts. Sign up now. View upcoming Pro-Series webinars.
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