Contracts Government Reconsideration of Value 
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.
Appraisal Today
AUGUST 9, 2024
Added Kan, “ Despite the downward movement in rates, purchase activity only saw small gains, with an increase in conventional purchase applications offset by decreases in government purchase applications. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 6.55
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Appraisal Today
OCTOBER 18, 2024
Refinance applications fell 26 percent to their lowest level since August, with comparable drops in both conventional and government refinances. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) increased to 6.52 percent from 6.36 percent, with points increasing to 0.65
Appraisal Today
APRIL 5, 2024
This is one of the appraisal discrimination cases that has received significant attention – among appraisers, the media and government agencies. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 6.91 Lanham, 20/20 Valuations, and loanDepot.com, U.S.
Appraisal Today
FEBRUARY 23, 2024
Finally, we have an inside look (and some hard numbers) at how Fannie’s complaint process works and how many complaints these Government Sponsored Enterprises (GSEs) are actually filing against appraisers. This will save time, especially when consumers request a Reconsideration of Value. percent from 6.87 percent from 7.00
Housing Wire
NOVEMBER 30, 2021
of the properties in Black neighborhoods receive appraisal values lower than the contract price versus 7.4% Reconsideration of Value (ROV) process. Consider that, per recent research by Freddie Mac , 12.5% for those in white neighborhoods, resulting in a gap of 5.2%.
Appraisal Today
MAY 24, 2024
Pressured by the Biden administration, government-backed enterprises Freddie Mac and Fannie Mae are instructing lenders they no longer need to use state-licensed appraisers for the task.) Finally, the vendor’s use of the photos is limited by contract, with stiff penalties for violation. Is it safe? percent from 7.08
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