Housing Wire

MARCH 23, 2022

The Department of Housing and Urban Development ’s long-awaited action plan on appraisal bias outlines administrative actions the federal government will quickly take to address mis-valuations. But the report fails to offer a clear plan to release appraisal data from the government sponsored enterprises.

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Appraisal Reconsideration of Value Government Valuation 448

Housing Wire

JULY 1, 2024

Adding to this challenging financial reality, the “ COVID ” vintage of loans has led to brutal repurchase costs for lenders, significantly driven by appraisal defects. Data from the most recent ACES Mortgage QC Industry Trends Report shows a year-over-year increase in appraisal-related defects.

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Appraisal Reconsideration of Value Technology Tools 434

Housing Wire

JANUARY 18, 2023

From an appraiser shortage to turn-time challenges amid record-breaking volumes, the past few years have been a whirlwind for the appraisal industry. HousingWire recently sat down with Jaro Managing Director Gareth Borcherds to learn what steps housing professionals can take to speed up appraisals.

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Appraisal Reconsideration of Value Appraisal Process Technology 397

Appraisal Buzz

AUGUST 21, 2024

Julie discusses her career journey to her current role at FHFA, and provides insights into the recent policy changes regarding Reconsideration of Value (ROV). Julie highlights the benefits of these policies for appraisers and lenders, and details new communication requirements about the ROV process.

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Reconsideration of Value Training Appraisal Finance 356

Housing Wire

JULY 3, 2024

Department of Housing and Urban Development (HUD) — will be updated to accommodate the implementation of a new Reconsideration of Value (ROV) policy for appraisals. It enhances current ROV policy while adding additional clarity for appraisal reviews, according to FHA.

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Appraisal Reconsideration of Value Insurance Mortgage 334

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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Valuation Reconsideration of Value Tools Technology 447

Housing Wire

JANUARY 24, 2022

That was the startling and totally hypothetical analogy made, based on the current structure of the Appraisal Foundation , in a scathing report released this week. Until recently … the appraisal industry seems to have escaped the type of regulation and scrutiny faced by other participants in the mortgage market,” the authors wrote.

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Government Appraisal Reconsideration of Value Lending 370

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.

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Appraisal Valuation Reconsideration of Value Training 397

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.

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Appraisal Inspection Development Technology 435

Housing Wire

FEBRUARY 24, 2023

I hear these phrases quite often when it comes to product and software development, but I think they apply very well to solving complex problems like transforming the property appraisal process to work better for every stakeholder. Another common theme is reducing the amount of subjectivity within the appraisal forms and data standard.

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Appraisal Process Appraisal Reconsideration of Value Valuation 395

Kairos Appraisal Services

FEBRUARY 1, 2023

With increased interest rates and declining home sales, there’s plenty to be nervous about—and there’s still the home appraisal, which can derail any mortgage deal if it comes in “low.” The good news is that a reconsideration… The post What Is a Reconsideration of Value for an Appraisal Report?

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Reconsideration of Value Appraisal Housing Market Sellers 105

Appraisal Buzz

JUNE 7, 2021

I provide services to appraisers, banks, technology firms, education providers, appraisal management companies, and attorneys. For appraiser clients, we commonly focus on proactive practices, methods and support, investigations, use of assistants, workflow efficiency, and technology. Buzz : Why do AMCs need the training?

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Training Reconsideration of Value Valuation Appraisal 366

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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Real Estate Reconsideration of Value Valuation Law 397

Housing Wire

MAY 20, 2024

Without additional action by the lender, case numbers in FHAC without an appraisal logged in the system are automatically canceled after six months. For cases without a logged appraisal, they are subject to automatic cancellation “for one year from the appraisal effective date,” according to a revision.

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Reconsideration of Value Mortgage Inspection Insurance 459

McKissock

NOVEMBER 16, 2021

With rapid price growth and price bidding wars in hot real estate markets, an increase in appraisal appeal requests is likely. No matter how meticulous you are or how good your appraisal reports are, inevitably, you’ll receive complaints about some of your appraisals. Meet deadlines, if attainable. Take the ROV seriously.

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Reconsideration of Value Clients Appraisal Real Estate Agent 91

Appraisal Buzz

MAY 6, 2024

Department of Housing and Urban Development (HUD), through the Federal Housing Administration (FHA), and government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac are now allowing home appraisals to get a second look when bias is suspected in the appraisal process.

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Reconsideration of Value Valuation Appraisal Appraisal Process 150

Housing Wire

DECEMBER 20, 2024

Department of Housing and Urban Development (HUD) and the principle of appraisal independence for lenders. ” Its not the appraiser or Solidifi , the third-party appraisal company. And appraisal independence here is crystal clear. The appraisal came in lower than it did previously.

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Reconsideration of Value Law Appraisal Clients 305

George Dell

MAY 22, 2024

ROV (Reconsideration of Value) is now in the boat. Is it safe? We suspect this will be a long row to get to the chosen island. Just row! It is likely this topic will be the focus of more of our “analog blog” series. To read part one of this series or other blog post […] The post Row Row ROV?

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Reconsideration of Value Appraisal 195

Cleveland Appraisal Blog

MARCH 30, 2021

Within the past couple of weeks, I have appraised several properties for purchases, where my opinion of the market value of these homes was significantly below the contract price. When an appraiser’s opinion of value is below the contract price, that’s when the carping begins. They just look at the number. .

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Housing Market Marketing Reconsideration of Value Appraisal 367

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.

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Modernization Real Estate Agent Appraisal Process Reconsideration of Value 83

Appraisal Buzz

SEPTEMBER 6, 2022

Appraisers have been dealing with Reconsideration of Value (ROV) requests from clients for decades. This appears to be due, in large part, to the unprecedented upward price trending in virtually all real estate markets around the country and the challenges appraisers face when developing opinions of.

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Reconsideration of Value Real Estate Clients Development 195

Riverfront Appraisals

APRIL 2, 2021

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

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Reconsideration of Value Appraisal Appraisal Process Property Appraisal 78

Appraisal Today

MAY 10, 2024

ROV (Reconsideration of Value) Changes – FHA and GSEs GSE Effective date is August 29, 2024 HUD Effective date is September 2, 2024 Editor’s note: This long section includes, In order: McKissock/Dave Bradley post with a good summary including links to HUD and GSE documents. For appraisers, Section II.D.2.

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Reconsideration of Value Appraisal Real Estate Insurance 74

Appraisal Buzz

AUGUST 26, 2024

iVALUATION is designed for the needs of mortgage originators, home equity lenders, appraisal reviewers, investors, and a wide array of other housing finance professionals and is particularly helpful for navigating the complexities of Reconsideration of Value (ROV) claims processes.

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Valuation Tools Reconsideration of Value Real Estate 195

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.

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Reconsideration of Value Appraisal Appraisal Process Loan Officers 100

Appraisal Buzz

DECEMBER 10, 2024

Kelker has been a leading figure in the appraisal industry renowned for his involvement in shaping valuation regulation. On behalf of REVAA, he spoke about appraisal bias before the House Financial Services Committee and the Appraisal Subcommittee Hearing of the Federal Financial Institutions Examination Council (FFIEC).

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Reconsideration of Value Valuation Real Estate Appraisal 195

Riverfront Appraisals

JULY 1, 2021

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

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Appraisal Process Reconsideration of Value Final Inspection Appraisal 88

Appraiserblogs

DECEMBER 21, 2021

Appraisers, the latest ‘buzzword’ around appraising is Standard. Appraisers have no way of controlling the apples to oranges dissimilarities. White Paper: Requests for Reconsiderations The paper states that…. Reconsideration of Value Requests Open invitation for spurious reconsideration requests.

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Reconsideration of Value Law Clients Appraisal 133

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.

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Appraisal Reconsideration of Value Real Estate Property Appraisal 96

Walitt Solutions

JULY 9, 2024

Borrower-Initiated Reconsiderations of Value (ROV) Policies Fannie Mae, Freddie Mac, and HUD recently released Borrower-Initiated Reconsiderations of Value policy changes to their Guides and Handbook, which impact lenders, appraisers, AMCs, and… consumers! alternative sales), the data sources (e.g.,

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Reconsideration of Value Appraisal Valuation Real Estate 41

Empire Appraisal Group

MAY 9, 2024

New Requirements Aim to Reduce Appraisal Bias The new Reconsideration of Value policy requires lenders to provide a pathway for borrowers to request reviews of home appraisal valuations. Also, underwriters should be trained to identify and remedy appraisal deficiencies, including racial and ethnic bias.

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Reconsideration of Value Appraisal Valuation Training 78

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. […].

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Reconsideration of Value Final Inspection Appraisal Bracketing 80

Appraiserblogs

MAY 3, 2024

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. However, these policies are in keeping with the new initiatives surrounding alleged and often unproved appraisal bias and discrimination claims.

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Reconsideration of Value Appraisal Mortgage Development 109

Cleveland Appraisal Blog

SEPTEMBER 10, 2022

You can also listen right here at Cleveland Appraisal Blog! . I am a member of the National Association of Appraisers. If you’re an appraiser, and you’re looking to join an appraisal organization, please check them out. – DW Slater Appraisal Blog. – The Appraiser’s Advocate Podcast.

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Reconsideration of Value Appraisal Technology Finance 195

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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Reconsideration of Value Appraisal Law Valuation 36

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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Reconsideration of Value Valuation Review Appraisal Valuation 78

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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Reconsideration of Value Appraisal 62