Housing Wire

OCTOBER 21, 2024

Under federal law, mortgage lenders are required to work at arm’s length during the appraisal process, partnering with independent appraisal management companies who assign the work to state-licensed professional appraisers,” a spokesperson for Rocket told HousingWire.

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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

FEBRUARY 7, 2022

The lender/appraiser ecosystem over time has adapted processes and technologies to achieve appraisal development and reporting that meets regulatory, agency, and investor requirements, as well as meeting the needs of individualized lender risk appetites. Appraisers rely on standards of practice and processes.

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Clear Capital

OCTOBER 7, 2024

We’re excited to share some important updates regarding the Reconsideration of Value (ROV) process. As you may know, Fannie Mae, Freddie Mac (the GSEs), and HUD have recently announced a standardized approach for handling ROVs initiated by borrowers during the appraisal process. What is a borrower-initiated ROV?

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Birmingham Appraisal

SEPTEMBER 15, 2022

As you can see, there are major differences between home appraisals and home inspections and both are very important. There are numerous steps in the appraisal process and it’s important to know each step involved. Steps in the Appraisal Process. What If The Appraisal Is Less Than The Contract?

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Housing Wire

MARCH 9, 2021

The finance giant will also begin training home lending advisors and client care specialists in the reconsideration of value process and fair lending issues related to appraisals. ” Though the bank did not admit to any wrongdoing or any appraisal bias, it moved quickly to update its policies on valuations.

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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?” My comments : ROVs are a PITA for many appraisers. Appraiser and Publisher Appraisal Today. My comments : Wow!

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