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DOJ sues Rocket, appraisal companies over alleged discrimination

Housing Wire

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. The DOJ and CFPB filed a statement of interest in the case.

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How to Respond to a Reconsideration of Value Request

Appraisal Buzz

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). The post How to Respond to a Reconsideration of Value Request appeared first on Appraisal Buzz. While the ROV process is.

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HUD rescinds appraisal review policies

Housing Wire

Policies related to appraisal appeals, or reconsiderations of value (ROV), were rescinded Wednesday by the Federal Housing Administration (FHA).

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New appraisal bias protections apply to reverse mortgage program: FHA

Housing Wire

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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Navigating New ROV Policies: Insights from the FHFA

Appraisal Buzz

Julie discusses her career journey to her current role at FHFA, and provides insights into the recent policy changes regarding Reconsideration of Value (ROV). In this episode, we welcome Julie Giesbrecht, Senior Policy Analyst at the Federal Housing Finance Agency (FHFA).

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Reverse mortgage LOs share appraisal challenges at NRMLA event

Housing Wire

She also cited the reconsideration of value (ROV) process as an issue, which can lead to strange requests for the clients themselves. Some continue to call it the single biggest issue they face in their business, while others say they have adapted and adjusted to it.

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ICE unveils two new property valuation solutions

Housing Wire

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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