Riverfront Appraisals

APRIL 2, 2021

The post The Loan Officer’s Guide to Appraisals Part 4: Tips for a Successful Reconsideration of Value appeared first on Riverfront Appraisals. This blog is part four of a 12-part series we’re calling The Loan Officer’s Guide to Appraisals. But don’t let the name fool you. Even though we’re […].

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Housing Wire

MARCH 18, 2024

Validate ROV allows homeowners who have questions about lender-assigned home values to submit “reconsideration of value” requests with their phones. Consumers will supplement their requests with pictures of the property.

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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. Our new policies will arm homeowners, lenders, and FHA with a clear process to address biased or inaccurate appraisals.”

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National Association of Realtors

SEPTEMBER 19, 2023

The ROV process is critical for consumers to raise questions about potential errors or omissions in an appraisal and fundamental to confidence in the process. Check out NAR's comments to the Consumer Financial Protection Bureau (CFPB) and the bank regulators.

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Housing Wire

MARCH 26, 2024

The changes include communicating to applicants that they have the right to request a reconsideration of value (ROV); explaining why an ROV is denied or the valuation is unchanged; and training its credit, valuation and customer service staff on the topic.

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Appraisal Buzz

SEPTEMBER 6, 2022

Appraisers have been dealing with Reconsideration of Value (ROV) requests from clients for decades. However, in the past couple of years, the industry has experienced a significant increase in the number of ROV requests as well as the sources of the requests.

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Housing Wire

JUNE 9, 2023

The proposed guidance advises on policies that financial institutions may implement to allow consumers to provide financial institutions with information that may not have been considered during an appraisal or if deficiencies are identified in the original appraisal ,” the announcement states.

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Appraisal Buzz

JUNE 7, 2021

Buzz : How should AMCs handle a reconsideration of value (ROV)? Josh : If the AMC knows how to handle a revision request, they already know how to handle a reconsideration of value (ROV). That’s because a reconsideration of value is merely a specific type of revision request.

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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.

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Housing Wire

JULY 1, 2024

These entities have implemented measures allowing homeowners to request reconsideration of appraisals, aiming to ensure fairness and accuracy. Moreover, tools like Fannie Mae’s Collateral Underwriter® (CU®) have been introduced to enhance the scrutiny of appraisal data.

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National Association of Realtors

SEPTEMBER 22, 2023

NAR joined a coalition letter urging regulators to consider benefits of certain aspects of the Veteran Affairs' (VA) Tidewater process for reconsiderations of value (ROVs).

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Valuation Review

JANUARY 10, 2022

Valuation Review caught up with Clear Capital’s Chief Appraiser John Brenan to discuss the topic of Reconsideration of Value (ROV). Brenan detailed the common reasons ROVs get requested and what appraisers need to know and can expect during this process. Read on for more of our conversation.

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Riverfront Appraisals

JULY 29, 2021

So far, we’ve covered communication with the appraiser, reconsiderations of value, FHA appraisals and a few other topics you should definitely go check out. This entire year, I’ve been blogging once a month with the purpose of assisting loan officers to better understand the appraisal process.

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Housing Wire

JANUARY 18, 2023

There are several ways we can do that from how we allocate orders, set fee schedules, and handle reconsiderations of values. We have a fully embedded quality control tool, but we also have other tools that help with reconsideration of values and evaluating reports. C) Appraisal Quality.

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Riverfront Appraisals

JULY 1, 2021

So far, we’ve covered final inspections, lending on unique homes, communication with the appraiser, reconsiderations of value, bracketing and FHA appraisals. For the past six months, I’ve been blogging with the purpose of assisting loan officers to better understand the appraisal process. And, you’ll definitely […].

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Appraiserblogs

DECEMBER 21, 2021

Related Posts: Requests for Reconsiderations.appraisers continue to receive requests for reconsiderations on a daily basis. White Paper: Requests for Reconsiderations The paper states that…. Reconsideration of Value Requests Open invitation for spurious reconsideration requests. No thank you.

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Housing Wire

MARCH 23, 2023

HUD also announced this week that it had awarded $54 million in grants across 42 states designed to curb appraisal bias.

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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.

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Riverfront Appraisals

JUNE 13, 2021

So far in our series, we’ve looked at final inspections, lending on unique homes, communication with the appraiser, reconsiderations of value and bracketing. […]. This post is part six of a 12-part series we’re calling The Loan Officer’s Guide to Appraisals. We’re halfway there! appeared first on Riverfront Appraisals.

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McKissock

NOVEMBER 16, 2021

To help you out, we’ve put together some practical information to strengthen your responses to a mortgage lender’s appraisal appeal, called a reconsideration of value (ROV). In the end, if the information provided justifies a reconsideration of value, then revise the appraisal report accordingly.

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Riverfront Appraisals

APRIL 30, 2021

So far in our series, we’ve looked at final inspections, lending on unique homes, communication with the appraiser, and reconsiderations of value. This post is part five of a 12-part series we’re calling The Loan Officer’s Guide to Appraisals. So if this is […]. appeared first on Riverfront Appraisals.

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Housing Wire

JANUARY 24, 2022

The report also called on the government-sponsored enterprises to release parts of their vast trove of appraisal data, and urged lenders, the government, the GSEs and the Appraisal Foundation to standardize the reconsideration of value process, which currently lacks “any legal structure.”. That process varies from lender to lender.

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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.

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DataMaster

JUNE 2, 2023

Yes, we’re talking about reconsideration of value (ROVs) and revision requests. Keep in Mind that Revision Requests aren't Always about Value While value is the principal reason for revision requests, it isn’t the only one (except for reconsideration of value requests).

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Cleveland Appraisal Blog

SEPTEMBER 10, 2022

Reconsideration of Value and Appraisers – APPRAISAL TODAY. Reconsideration of Value and Appraisers – APPRAISAL TODAY. Exploring Life & Business with Jamie Owen of Aspen Appraisal Services – VoyageOhio Magazine. Is the Sun Setting on High Prices? – DW Slater Appraisal Blog.

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McKissock

MARCH 21, 2023

Current Topics with the VA In this recorded webinar, James Heaslet, Chief Appraiser for the Department of Veterans Affairs, and Jeffrey Hogan, Vice-President at Veros Real Estate, discuss desktop appraisals, reconsiderations of value, and the ways that the VA is monitoring appraisal quality.

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Birmingham Appraisal

JUNE 13, 2023

You should never discuss value, however, you can discuss errors in factual information such as the number of bedrooms or bathrooms, or the number of acres the house is located on. Request a reconsideration of value- If you disagree with the appraised value, you can request a reconsideration of value from the lender.

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DataMaster

JUNE 2, 2023

Yes, we’re talking about reconsideration of value (ROVs) and revision requests. Keep in Mind that Revision Requests aren't Always about Value While value is the principal reason for revision requests, it isn’t the only one (except for reconsideration of value requests).

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Housing Wire

MAY 2, 2024

The spokesperson went on to say that the policy places senior borrowers seeking a HECM on a level playing field with any other mortgage borrower who seeks a reconsideration of value (ROV).

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Housing Wire

APRIL 6, 2021

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,” Johnson told HousingWire in August.

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McKissock

JUNE 22, 2021

Job aid: How to Respond to a Reconsideration of Value Request. The useful and practical information within this guide is intended to enhance and strengthen your responses to a mortgage lender’s appraisal appeal, called a reconsideration of value. Webinar: Basics of the HP12c and Its Usage in Appraisal.

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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. Don’t miss this FREE update on VA appraisal topics on Wednesday, February 22nd from 11am-12pm ET. Sign up now.

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McKissock

JANUARY 8, 2021

This initiative has significantly reduced the number of formal Reconsideration of Value (ROV) requests received by the VA. Tidewater gives the lender (or another party to the transaction) the opportunity to provide relevant data to the appraiser to support the sale price before the appraisal report is submitted to the VA.

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McKissock

JANUARY 8, 2021

This initiative has significantly reduced the number of formal Reconsideration of Value (ROV) requests received by the VA. Tidewater gives the lender (or another party to the transaction) the opportunity to provide relevant data to the appraiser to support the sale price before the appraisal report is submitted to the VA.

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Reconsideration of Value Appraisal Contracts Appraisal Process 52

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. View Pro-Series webinars.

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Appraisal Reconsideration of Value Valuation Real Estate 52

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. Don’t Take it Personally or Get Personal—Don’t Go There. So, let’s define it. Recap #0: Do: Remain professional.

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George Dell

MAY 29, 2024

“Ya gotta show your work,” my third-grade teacher said. “But But I got the answer right!” Ya gotta support your adjustments,” they say. “But But I’m credible!” Incredible. Why are we harangued to “support” our adjustments? Why are we sold one form after another of magical adjustment calculators?

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