Housing Wire

JANUARY 18, 2023

The quickest way to ensure a faster appraisal process is going to be to learn how to work with valuation providers as partners in the process rather than the way most appraisers feel, adversaries. There are several ways we can do that from how we allocate orders, set fee schedules, and handle reconsiderations of values.

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Appraisal Reconsideration of Value Appraisal Process Technology 362

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 318

Housing Wire

JANUARY 24, 2022

The appraisal industry’s “byzantine regulation structure,” according to the report’s authors — experts in fair housing, fair lending and valuation — has stunted the appraisal industry’s understanding of fair housing risk. The regime has limited its accountability and enforcement systems. That process varies from lender to lender.

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Government Appraisal Reconsideration of Value Lending 363

Appraisal Buzz

FEBRUARY 7, 2022

The markets perceived no additional risk in transactions where the appraiser signing off on the valuation of the collateral being utilized for a credit decision did not physically inspect the property. Inspection relief was successful as lenders and appraisers developed appropriate processes. Lenders rely on regulation and policy.

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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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Reconsideration of Value Appraisal Real Estate Insurance 73

Housing Wire

DECEMBER 20, 2024

Department of Housing and Urban Development (HUD) and the principle of appraisal independence for lenders. We offered a reconsideration of value twice to the client. This conversation has been edited for length and clarity. We ordered this appraisal from a third party, who contracted the state-licensed appraiser.

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Reconsideration of Value Law Clients Appraisal 262

Cleveland Appraisal Blog

MARCH 30, 2021

When an appraiser’s opinion of value is below the contract price, that’s when the carping begins. The number of professional reconsiderations of value coming in are increasing. My advice to agents and sellers is to really analyze the properties that they are using to develop their asking price.

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Housing Market Marketing Reconsideration of Value Contracts 367

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. The policies will take effect later this year.

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Reconsideration of Value Appraisal Valuation Training 78

Cleveland Appraisal Blog

SEPTEMBER 10, 2022

She’s an avid personal development enthusiast and an expert in the field of health and fitness. Reconsideration of Value and Appraisers – APPRAISAL TODAY. Reconsideration of Value and Appraisers – APPRAISAL TODAY. She specializes in content marketing, social media, and SEO.

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Reconsideration of Value Appraisal Technology Finance 195

McKissock

DECEMBER 28, 2021

Nonetheless, it would be prudent for appraisers to refresh or develop their knowledge on appraising REO properties.”. The PAVE Task Force is expected to issue a report with recommendations on how to reduce racial bias in home valuations sometime in early 2022,” he says. These are expected to be significant and far-reaching.

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Appraisal Reconsideration of Value Real Estate Property Appraisal 96

Appraisal Buzz

JULY 17, 2024

These duties include front-end collateral policy design, loan quality control activities for both credit and collateral, condo standards, property valuations designation and modernization, appraisal bias oversight, real estate liquidation options, and Single-Family operational risk management.

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Appraisal Property Taxes Modernization Reconsideration of Value 221

McKissock

FEBRUARY 13, 2023

James and Jeff will cover current VA appraisal topics including desktop appraisals, reconsiderations of value, and the ways that the VA is monitoring appraisal quality. He is the principal expert for all matters related to residential property appraisals and valuation solutions at Veros. Sign up now.

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Appraisal Reconsideration of Value Valuation Real Estate 85

McKissock

FEBRUARY 13, 2023

James and Jeff will cover current VA appraisal topics including desktop appraisals, reconsiderations of value, and the ways that the VA is monitoring appraisal quality. Invest in your professional development with one-hour, non-credit webinars presented by experts. View Pro-Series webinars.

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Appraisal Reconsideration of Value Valuation Real Estate 52

Birmingham Appraisal

FEBRUARY 20, 2024

The appraiser must make sure that they are providing an impartial valuation so that the market value shown in the appraisal is as accurate as possible. For the above reasons, it is very important for accurate valuations during the home-buying process.

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Agents Appraisal Real Estate Agent Bracketing 92

Appraisal Today

JULY 26, 2024

As strategies continue to develop and evolve, we believe it’s important to engage and communicate with stakeholders, so here are three key items we believe appraisers should keep top of mind in 2024. It’s a necessary step in developing credible reports. A Reality Check Southernmost House in Continental U.S.

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Appraisal Valuation Reconsideration of Value Contracts 81

Appraisal Today

AUGUST 9, 2024

Market Value and Appraised Value: Exploring Various Appraisal Values By Jo Traut Excerpts: You’ve probably been asked about the difference between “market value and appraised value” by clients seeking a mortgage. However, from the perspective of the valuation profession, this isn’t an accurate question.

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Appraisal Reconsideration of Value Insurance Market Value 67

Birmingham Appraisal

SEPTEMBER 15, 2022

Basically, an appraisal determines the value of a property, and the home inspection reports the home’s overall condition as well as that of the different systems. Appraisers develop an opinion of value for the subject property for various reasons including mortgage underwriting.

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Housing Wire

MAY 1, 2024

Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA) announced a new policy on Wednesday that will enable mortgage borrowers to “request a re-assessment of the appraised value of their property if they believe that the appraisal was inaccurate or biased,” according to an announcement from HUD.

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Appraisal Today

APRIL 5, 2024

Lanham, 20/20 Valuations, and loanDepot.com, U.S. They alleged that the appraiser had taken into account their race in his valuation of their home in violation of the federal Fair Housing Act and other laws prohibiting discrimination. Significant developments have occurred in the case. District Court, Maryland.

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Housing Wire

JANUARY 12, 2023

Department of Housing and Urban Development (HUD) has begun developing a process for borrowers seeking Federal Housing Administration (FHA) financing to request an appraisal review when they suspect racial bias. . “We The group created an action plan representing a wide-ranging set of equity reforms to the home appraisal process.

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Housing Wire

MARCH 9, 2021

The Department of Housing and Urban Development (HUD) has announced that JPMorgan Chase has come to an agreement with a Black homeowner who claimed the bank’s mortgage division – relying on a valuation done by an appraiser – valued her home at an amount lower than its actual worth because of her race.

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Housing Wire

NOVEMBER 30, 2021

The movement to embrace appraisal modernization techniques also holds the promise of removing the potential for racial bias, better supporting efforts to remove valuation gaps that persist in minority neighborhoods. of the properties in Black neighborhoods receive appraisal values lower than the contract price versus 7.4%

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Appraisal Process Modernization Appraisal Valuation 432

Appraisal Today

JULY 12, 2024

By staying honest and true to your values, others are more likely to trust and collaborate with you or recommend you and your business. Expertise Professionals strive for proficiency in their field, continually enhancing their knowledge through education, webinars and personal development efforts.

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Housing Wire

JULY 18, 2024

(FDIC), the Federal Reserve Board , the National Credit Union Administration (NCUA) and the Office of the Comptroller of the Currency (OCC) — announced on Thursday finalized guidance that is designed to address “reconsiderations of value (ROVs) for residential real estate transactions,” according to an announcement.

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Appraisal Today

FEBRUARY 23, 2024

The property data collection process by unlicensed and unregulated people hampers the appraiser trainee’s development and hurts the next generation of licensed and certified appraisers. This will save time, especially when consumers request a Reconsideration of Value. Search for Sweeney to find it in the long post.

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Appraisal Real Estate Contracts Reconsideration of Value 68

Housing Wire

AUGUST 29, 2022

We sat down with Steve Sussman, NAN’s chief business development officer, to find out how the company is growing so fast and what they see for the future. But I think that it’s going to help solve a lot of problems both now and in future as we move toward more modern valuation methods.

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Appraisal Buzz

JANUARY 17, 2025

Department of Housing and Urban Development (HUD) has made significant progress in eliminating housing discrimination, increasing rental assistance for thousands of Americans, reducing housing costs, and increasing the supply of affordable homes under the direction of Secretary Marcia L.

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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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Housing Wire

DECEMBER 23, 2024

The foremost was using comparable home sales (comps) from a predominantly black neighborhood outside of the recommended radius to inform the homes valuation, rather than from the largely white neighborhood of the residence allegedly because the homeowner who requested the appraisal was black herself.

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Housing Wire

MARCH 24, 2022

. “Federal researchers, appraisers, academics, tax assessors, and private sector actors could all use these data in ways that inform better-understood valuations and mitigate racial and ethnic bias in valuations,” an FHFA spokesperson said.

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Appraisal Reconsideration of Value Valuation Government 491