Remove Development Remove Property Appraisal Remove Reconsideration of Value
article thumbnail

Implementation deadline for appraisal review policy pushed to Oct. 31

Housing Wire

A policy designed for lenders to review and respond to borrower-initiated reconsideration of value (ROV) requests for appraisals — originally scheduled to be implemented between Aug. 29 and Sept. 2 — has been pushed back to Oct. The policy — announced in May by the U.S.

article thumbnail

New Requirements Aim to Reduce Appraisal Bias

Empire Appraisal Group

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. The policies will take effect later this year.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

White House marks one year of PAVE appraisal bias action plan

Housing Wire

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
article thumbnail

Progress now or perfect later: Improving the appraisal process

Housing Wire

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. And as a bonus, the spec provides a home for digital captures of properties to be included.

article thumbnail

2022 Appraisal Outlook: Appraisers Cast Optimistic Eye On Coming Year

McKissock

Nonetheless, it would be prudent for appraisers to refresh or develop their knowledge on appraising REO properties.”. One possibility being discussed is a standardized reconsideration of value process that a property owner can utilize if they believe their house was undervalued by an appraiser.

article thumbnail

FREE Webinar: Update on Current VA Appraisal Topics

McKissock

McKissock Learning is hosting a FREE one-hour, non-credit Pro-Series webinar titled “Current Topics with the VA,” featuring a discussion with James Heaslet, Chief Appraiser for the Department of Veterans Affairs and Jeffrey Hogan, Vice-President at Veros Real Estate Solutions. Sign up now. Sign up now.

article thumbnail

FREE Webinar: Update on Current VA Appraisal Topics

McKissock

McKissock Learning is hosting a FREE one-hour, non-credit Pro-Series webinar titled “Current Topics with the VA,” featuring a discussion with James Heaslet, Chief Appraiser for the Department of Veterans Affairs and Jeffrey Hogan, Vice-President at Veros Real Estate Solutions. View Pro-Series webinars.