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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Birmingham Appraisal
FEBRUARY 20, 2024
The final CMA report presents findings and recommendations to clients, allowing them to make well-informed decisions in their real estate transactions. The sales can be considered during the development of the appraisal rather than after it is completed through a reconsideration of value which can delay the home buying process.
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.
Appraisal Today
SEPTEMBER 9, 2022
Excerpts: Suggested protocols for responding to Reconsideration of Value requests. Click here to listen to Tim Andersen, MAI’s podcast, “Reconsiderations of Value: Satan’s Own Seed, Right?” But ROVs, Tidewater initiatives, upset owners, and those who will play the racist card will be omni-present. 1826 Clement Ave.
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.
Housing Wire
AUGUST 29, 2022
Anyone who was present, anyone who was part of the conversation, and working with our in-house staff appraisal team to review all the methodologies from the report and see if this a good faith report or if there is room to believe there could be potential bias here.
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