Housing Wire

MARCH 23, 2023

Thursday, March 23 marks the one-year anniversary since the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) released its action plan to curb instances of bias in the housing appraisal process. Led by U.S.

Appraisal 384

Appraisal Valuation Reconsideration of Value Training 384

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.

Real Estate 384

Real Estate Reconsideration of Value Valuation Law 384

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).

Reconsideration of Value 62

Reconsideration of Value Appraisal Process Appraisal 62

Riverfront Appraisals

JULY 29, 2021

This entire year, I’ve been blogging once a month with the purpose of assisting loan officers to better understand the appraisal process. 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.

Reconsideration of Value 100

Reconsideration of Value Appraisal Appraisal Process Loan Officers 100

Housing Wire

APRIL 6, 2021

Unfortunately, the appraisal put the house’s value roughly $50,000 below than what she paid. Linda had a sizable downpayment but still needed to find a way to close the appraisal gap. She recently had a deal fall apart due to appraisal. That’s common these days. Streamline by combining services.

Appraisal 540

Appraisal Reconsideration of Value Real Estate Agent Sellers 540

Appraisal Buzz

FEBRUARY 7, 2022

Fannie Mae announced on January 19, 2022 that they will be accepting desktop appraisals for eligible loan transactions. The team at Fannie Mae were the first to announce requirements lockstep with their Regulator that desktop appraisals will become a normal part of the appraisal product landscape. Appraisal Labels.

Appraisal 435

Appraisal Inspection Development Technology 435

Riverfront Appraisals

JUNE 13, 2021

Right now on our Appraisal Blog, we’re all about helping Loan Officers. This post is part six of a 12-part series we’re calling The Loan Officer’s Guide to Appraisals. So far in our series, we’ve looked at final inspections, lending on unique homes, communication with the appraiser, reconsiderations of value and bracketing. […].

Reconsideration of Value 80

Reconsideration of Value Final Inspection Appraisal Bracketing 80

McKissock

DECEMBER 28, 2021

Appraisers recently contacted by McKissock tend to agree that the profession will go generally well in 2022, with no major changes to the real estate market and no events on the horizon that could seriously upset appraisers’ business. Desktop appraisals, with information provided by third-party hirelings, may increase.

Appraisal 96

Appraisal Reconsideration of Value Real Estate Property Appraisal 96

Birmingham Appraisal

JUNE 13, 2023

Appraisal Tips For Real Estate Agents As a real estate appraiser with over 30 years of experience, I have seen many changes and challenges in the appraisal profession and the real estate market. I believe that appraisers and agents have a common goal: to help their clients buy or sell a home.

Real Estate Agent 86

Real Estate Agent Real Estate Agents Reconsideration of Value 86

Riverfront Appraisals

APRIL 30, 2021

Right now on our Appraisal Blog, we’re all about helping Loan Officers. This post is part five of a 12-part series we’re calling The Loan Officer’s Guide to Appraisals. So far in our series, we’ve looked at final inspections, lending on unique homes, communication with the appraiser, and reconsiderations of value.

Bracketing 78

Bracketing Reconsideration of Value Final Inspection Appraisal 78

Birmingham Appraisal

FEBRUARY 20, 2024

Appraiser and Agent Collaboration is a Good Thing The importance of collaboration between real estate agents and appraisers can be a touchy subject. On one hand, the real estate agent’s main goal is to advocate for their client while the appraiser must be an impartial and non-biased third party.

Agents 94

Agents Appraisal Real Estate Agent Bracketing 94

Birmingham Appraisal

SEPTEMBER 15, 2022

What New Homebuyers Need To Know About Appraisals. Buying a home can be a confusing process, however, I hope that you have been able to surround yourself with knowledgable professionals who can help you navigate your first home purchase and make it an enjoyable experience. What is a Mortgage Appraisal? Who is the Appraisal for?

Appraisal 97

Appraisal Inspection Appraisal Process Real Estate Agent 97

Housing Wire

NOVEMBER 30, 2021

Regardless of the size or complexity of a system or process, it is time to look at whether the impact it has on people is equitable. And the appraisal process is no exception. of the properties in Black neighborhoods receive appraisal values lower than the contract price versus 7.4% All people.

Appraisal Process 446

Appraisal Process Modernization Appraisal Valuation 446

McKissock

JANUARY 8, 2021

The VA has a unique set of protocols, known as the Tidewater Initiative, that a VA appraiser must follow when he or she expects the appraised value of a property is going to be lower than its contract price. This initiative has significantly reduced the number of formal Reconsideration of Value (ROV) requests received by the VA.

Appraisal 59

Appraisal Reconsideration of Value Contracts Appraisal Process 59

McKissock

JANUARY 8, 2021

The VA has a unique set of protocols, known as the Tidewater Initiative, that a VA appraiser must follow when he or she expects the appraised value of a property is going to be lower than its contract price. This initiative has significantly reduced the number of formal Reconsideration of Value (ROV) requests received by the VA.

Appraisal 52

Appraisal Reconsideration of Value Contracts Appraisal Process 52

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.

Reconsideration of Value 457

Reconsideration of Value Appraisal Valuation Realtors 457

Appraisal Today

APRIL 7, 2023

AMCs Assuring that the appraiser has the correct contact information for an inspection is very important. Communicating quickly with the lender is an issue with the appraisal process. I don’t see much written about appraisers and emails. I have always had a landline for business calls and a cell phone for personal calls.

Appraisal 52

Appraisal Property Taxes Reconsideration of Value Contracts 52

Appraisal Today

SEPTEMBER 9, 2022

Excerpts: Suggested protocols for responding to Reconsideration of Value requests. Appraisers are still required to comply with USPAP when responding to an ROV request, including the confidential nature of assignment results. My comments : ROVs are a PITA for many appraisers. Reconsideration of Appraised Value.

Reconsideration of Value 52

Reconsideration of Value Appraisal Clients Contracts 52

Housing Wire

JANUARY 3, 2023

When it comes to offering an opinion of ‘good or bad’ on HR 7735 — the VA modernization bill — and its ultimate ability to create a better appraisal process for veteran and active duty borrowers, it’s simply too early to tell with too little information being shared on exactly what changes we should expect.

Modernization 83

Modernization Real Estate Agent Appraisal Process Reconsideration of Value 83

Housing Wire

JANUARY 12, 2023

Department of Housing and Urban Development (HUD) has begun developing a process for borrowers seeking Federal Housing Administration (FHA) financing to request an appraisal review when they suspect racial bias. . “We The group created an action plan representing a wide-ranging set of equity reforms to the home appraisal process.

Reconsideration of Value 388

Reconsideration of Value Development Appraisal Valuation 388

Housing Wire

MARCH 9, 2021

The Department of Housing and Urban Development (HUD) has announced that JPMorgan Chase has come to an agreement with a Black homeowner who claimed the bank’s mortgage division – relying on a valuation done by an appraiser – valued her home at an amount lower than its actual worth because of her race.

Reconsideration of Value 482

Reconsideration of Value Appraisal Valuation Appraisal Process 482

Housing Wire

JUNE 2, 2023

Today, I’m proud to announce we are developing a rule that will require that financial institutions ensure that their appraisal algorithms are not biased, for example, that they do not produce lower valuations for homes owned by people of color,” Harris said Thursday in a call with reporters. “We

Appraisal 412

Appraisal Reconsideration of Value Valuation Development 412

Housing Wire

MARCH 24, 2022

The lack of appraisal data from the government sponsored enterprises took center stage at a Senate Banking Committee hearing Thursday on appraisal bias. Tina Smith, both Democrats, also piled on to support making appraisal data public. Capitol building in Washington, D.C. Pennsylvania Sen. Who could release that data?”.

Appraisal 503

Appraisal Reconsideration of Value Valuation Government 503