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HUD, GSEs to Allow Consumers to Seek Reconsideration of Appraisal Valuations

Appraisal Buzz

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.

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loanDepot settles appraisal bias lawsuit 

Housing Wire

Instead of Connolly and Mott greeting the appraiser, a white colleague was present during the process. ” The settlement agreement does not resolve or release any claims against 20/20 Valuations and Lanham. ” The settlement agreement does not resolve or release any claims against 20/20 Valuations and Lanham.

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Progress now or perfect later: Improving the appraisal process

Housing Wire

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. Is “better” good enough as a starting point?

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The appraisal gap is complicating deals across the country

Housing Wire

How hybrid title and valuations help increase lending efficiency. 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. She recently had a deal fall apart due to appraisal.

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FREE Webinar: Update on Current VA Appraisal Topics

McKissock

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. He is the principal expert for all matters related to residential property appraisals and valuation solutions at Veros. Sign up now.

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FREE Webinar: Update on Current VA Appraisal Topics

McKissock

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. View Pro-Series webinars. View upcoming Pro-Series webinars.

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A View on Risk: Desktop Appraisals

Appraisal Buzz

Let’s take some time to reintroduce Desktop Appraisals and explore the risks that are presented when a Desktop Appraisal is requested of an appraiser as part of the mortgage application process. It will give the reader of the report, and the person who will be providing the valuation, a visualization of what exists. Appraisal Labels.

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