Housing Wire

MARCH 23, 2023

Department of Housing and Urban Development (HUD) Secretary Marcia Fudge and White House Domestic Policy Advisor Ambassador Susan Rice, the PAVE task force revealed its action plan one year ago and claims that its efforts have amounted to “critical progress” in its efforts to make the homebuying process more equitable for people of color.

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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. That means development can start this year, so the industry is ready to roll out the new forms in 2024.

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Appraisal Process Appraisal Reconsideration of Value Valuation 396

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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Appraisal Buzz

FEBRUARY 7, 2022

During 2020 and 2021 as the Covid-19 pandemic global pandemic disrupted our lives and the way we all do business, regulators, agencies, and the government sponsored enterprises allowed inspection relief in certain circumstances. Inspection relief was successful as lenders and appraisers developed appropriate processes.

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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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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.

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Appraisal Reconsideration of Value Insurance Market Value 70

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 defendant appraiser valued their home at $472,000; a second appraiser later valued it at $750,000 after the couple “whitewashed” the residence and had a white friend stand-in for them.

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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.

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Appraisal Real Estate Contracts Reconsideration of Value 71

Housing Wire

NOVEMBER 30, 2021

Reconsideration of Value (ROV) process. Additionally, as directed by the Biden administration, the U.S. Our industry must support appraisal diversity initiatives, recruit more minorities into the vocation, and increase incentives and opportunities for valuation professionals.

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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.) I’m always looking for something new = ROV, Part 2 By George Dell, SRA, MAI, ASA, CRE Excerpts: ROV (Reconsideration of Value) is now in the boat.

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Housing Wire

JUNE 2, 2023

On the heels of a Thursday announcement by six federal agencies unveiling a proposed rule that would implement quality control standards that govern the use of automated valuation models (AVMs), Vice President Kamala Harris weighed in. Department of Housing and Urban Development (HUD) Secretary Marcia Fudge.

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Appraisal Today

MARCH 21, 2025

This development is a ray of hope not only for Lanham, who has been unjustly accused of racial bias in his appraisals, but for the entire appraisal community who have been unfairly targeted by NFHAs relentless smear campaign. The underwriter must provide the Appraiser with all relevant data that is necessary for a reconsideration of value.

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Appraisal Today

MARCH 14, 2025

Assessor, The R Word, HUD Appraiser Complaints March 14, 2025 Whats in This Newsletter (In Order, Scroll Down) LIA AD: Navigating value revisions in appraisals Why Is the Square Footage in Public Records Different from the Appraisal? Below is an open letter (slightly edited for anonymity) that Mr. Binney submitted to several U.S.

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Appraisal Valuation Contracts Government 52

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. If the government has not fully measured and studied the scope of the problem, Toomey said, it should not be suggesting remedies that have the potential to make appraisals more expensive. .

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Appraisal Reconsideration of Value Valuation Government 505

Appraisal Today

MARCH 28, 2025

But our training must govern here and force us to ask the question, Does this adjustment protocol reflect current market verities? Department of Housing and Urban Development (HUD). times 42-days or $5,523. This rationale is mathematically correct. If not, then following this protocol is, in effect, to guess at a time adjustment.

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Housing Wire

DECEMBER 13, 2024

Advisers and officials of the yet-to-be created “Department of Government Efficiency” (DOGE) have asked potential nominees to lead the Federal Deposit Insurance Corp. But he added that proposals to consolidate or eliminate a government agency would require Congressional approval.

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Housing Wire

DECEMBER 23, 2024

While Rocket does not have the authority to directly intervene in the process, the law does map out a path for appeal in cases where error or bias are suspected; its called reconsideration of value (ROV). But according to federal guidelines, the ROV process must be initiated by the home buyer, not the lender.

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