Clients Law Reconsideration of Value 
Appraiserblogs
DECEMBER 21, 2021
But I digress… According to the Dodd-Frank law, and the HVCC before it, clients are allowed to challenge the appraiser’s value opinion by submitting what is termed in the law “appropriate” sales to be further reviewed, with the expectation that. White Paper: Requests for Reconsiderations The paper states that….
Appraisal Buzz
FEBRUARY 7, 2022
Lenders will need to understand implications to any policies, procedures, or practices associated with reconsiderations of value or the decision to obtain another appraisal. Both Fannie Mae and Freddie Mac are clear in their selling guides that certain conditions must be met if a lender decides to obtain multiple appraisals.
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Birmingham Appraisal
SEPTEMBER 15, 2022
Appraisers develop an opinion of value for the subject property for various reasons including mortgage underwriting. Some examples of this are buyers purchasing a home, owners refinancing a home, and clients who are building a home. The bank is required by law to provide a copy of the appraisal report to the borrower.
Appraisal Today
FEBRUARY 23, 2024
Allow the appraisers to speak directly to the lender/client, instead of going through the third-party agent. This will save time, especially when consumers request a Reconsideration of Value. Again, who controls and regulates the data? To read the Sweeney Oral Testimony pdf, Click Here Sorry, the hearing is not online yet.
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. The Appraisal Institute , in fact, has said it will now require all appraisers to take a seven-hour course focused on Fair Housing laws and bias.
Appraisal Today
SEPTEMBER 9, 2022
Excerpts: Suggested protocols for responding to Reconsideration of Value requests. Maintain USPAP compliance – Confirm the ROV request came from your client, either directly or through the client’s AMC, acting as an agent for the client, or other party designated as an agent by the client. Excerpts: 2.
Housing Wire
DECEMBER 20, 2024
We followed the rules; we followed the law. Emerson: This was a three-time Rocket client. Why would we not want to help a three-time client? At the end of the day, the client didnt like the appraisal. We offered a reconsideration of value twice to the client. We did nothing wrong.
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