Government, Mortgage and Reconsideration of Value

DOJ sues Rocket, appraisal companies over alleged discrimination

Housing Wire

OCTOBER 21, 2024

Another regulator has sued Rocket Mortgage for allegedly discriminating against a Black homeowner by undervaluing her home during an appraisal in Colorado three years ago. “The law’s intent is to determine the home’s value without any input or bias from the lender or any other party with interest in the transaction.”

Appraisal

Appraisal Reconsideration of Value Valuation Law

New appraisal bias protections apply to reverse mortgage program: FHA

Housing Wire

MAY 2, 2024

Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA) this week announced a new policy enabling mortgage borrowers to “request a re-assessment of the appraised value of their property if they believe that the appraisal was inaccurate or biased.”

Reconsideration of Value

Reconsideration of Value Appraisal Mortgage Valuation

The appraisal industry’s governance problem

Housing Wire

JANUARY 24, 2022

Until recently … the appraisal industry seems to have escaped the type of regulation and scrutiny faced by other participants in the mortgage market,” the authors wrote. Apart from questions of governance, the report found significant gaps in the Appraisal Foundation’s fair housing requirements and training.

Government

Government Appraisal Reconsideration of Value Lending

ICE unveils two new property valuation solutions

Housing Wire

MARCH 18, 2024

Intercontinental Exchange (ICE) Mortgage Technology introduced two new tools, Validate ROV and Validate Selector, to its growing suite of property valuation solutions, the company announced on Monday. Regulators are paying close attention to valuations for many valid reasons.

Valuation

Valuation Reconsideration of Value Tools Technology

Implementation deadline for appraisal review policy pushed to Oct. 31

Housing Wire

AUGUST 6, 2024

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.

Reconsideration of Value

Reconsideration of Value Appraisal Design Valuation

HUD publishes several changes to reverse mortgage handbook section

Housing Wire

MAY 20, 2024

which includes numerous updates to its guidance for the Home Equity Conversion Mortgage (HECM) program overseen by the Federal Housing Administration (FHA). An extensive update was published to general reconsideration of value (ROV) requirements.

Reconsideration of Value

Reconsideration of Value Mortgage Inspection Insurance

Appraisal bias plan promises barrage of actions in the near term

Housing Wire

MARCH 23, 2022

The Department of Housing and Urban Development ’s long-awaited action plan on appraisal bias outlines administrative actions the federal government will quickly take to address mis-valuations. But the report fails to offer a clear plan to release appraisal data from the government sponsored enterprises.

Appraisal

Appraisal Reconsideration of Value Valuation Government

Building a quality-centric culture is essential to ensuring appraisal integrity

Housing Wire

JULY 1, 2024

In light of market fluctuations and regulatory changes, mortgage lenders face significant challenges in today’s market. Even at the highest demand levels in 2024 , purchase mortgage applications were nearly 45% lower compared to the same weeks in 2018 and 2019, exacerbated by record-high origination costs.

Appraisal

Appraisal Reconsideration of Value Technology Tools

HUD, GSEs to Allow Consumers to Seek Reconsideration of Appraisal Valuations

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.

Reconsideration of Value

Reconsideration of Value Valuation Appraisal Appraisal Process

ROV (Reconsideration of Value) Changes – FHA and GSEs

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.

Reconsideration of Value

Reconsideration of Value Appraisal Real Estate Insurance

A View on Risk: Desktop Appraisals

Appraisal Buzz

FEBRUARY 7, 2022

Let’s take some time to reintroduce Desktop Appraisals and explore the risks that are presented when a Desktop Appraisal is requested of an appraiser as part of the mortgage application process. Prior to 2020, the most common appraisal label in the mortgage origination ecosystem was the Full Appraisal. Appraisal Labels.

Appraisal

Appraisal Inspection Development Technology

Types of Appraisal Values

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. We don’t provide an appraised value of a property. More appraisals coming! 31, 2024.

Appraisal

Appraisal Reconsideration of Value Insurance Market Value

FHA Appraisal ROV Q&As

Appraisal Today

OCTOBER 18, 2024

By Ryan Lundquist Choosing the Right Appraisal Management Companies (AMCs): A Guide for Appraisers Mortgage applications decreased 17.0 By Ryan Lundquist Choosing the Right Appraisal Management Companies (AMCs): A Guide for Appraisers Mortgage applications decreased 17.0 Mortgage applications decreased 17.0 I hope I am wrong!

Appraisal

Appraisal Reconsideration of Value Insurance Contracts

Why Appraisal Workfiles Are Important

Appraisal Today

APRIL 5, 2024

NOTE: Please scroll down to read the other topics in this long blog post on appraiser discrimination lawsuit, waivers, staying positive with slow business, appraiser’s economic forecast, unusual homes, mortgage origination stats, etc. Mortgage rates Mortgage rates exhibited a minor retreat to 6.79%, remaining within the 6.6%

Appraisal

Appraisal Contracts Business Construction

How to Find Comps With Few Sales

Appraisal Today

FEBRUARY 23, 2024

NOTE: Please scroll down to read the other topics in this long blog post on residential fee appraiser testifies at bias hearing, what happens to Fannie complaints, Why I love real estate appraising, unusual homes, mortgage origination stats, etc. == Concrete Chateau Artisan Rising From a Lake in Miami FL Is Available for $21.8M

Appraisal

Appraisal Real Estate Contracts Reconsideration of Value

Opinion: The path to modernizing the appraisal process

Housing Wire

NOVEMBER 30, 2021

These and other steps are sorely needed to bring the appraisal process in line with advances to digitize mortgages, utilizing technology to combat inconsistencies that continue to beleaguer the profession, and reduce closing slowdowns often caused by appraisal capacity issues. Reconsideration of Value (ROV) process.

Appraisal Process

Appraisal Process Modernization Appraisal Valuation

Common USPAP Appraiser Violations

Appraisal Today

MAY 24, 2024

During my term as an appraisal board member in my state, I encountered several cases in which a mixed-use property or commercial property was appraised as a residential property so a borrower could obtain a residential mortgage. In last week’s newsletter, Dan Bradley’s first name was misspelled as Dave, his brother. baths, 19,660 sq.ft.,

Appraisal

Appraisal Contracts Mortgage Reconsideration of Value

Kamala Harris talks proposed AVM bias rule as White House announces new appraisal actions

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.

Appraisal

Appraisal Reconsideration of Value Valuation Development

Appraisal WaIvers Can Be Risky

Appraisal Today

MARCH 21, 2025

MBA – Mortgage applications decreased 6.2 The highest and lowest rates The lowest weekly average mortgage rate for the conventional 30-year, fixed-rate mortgage was recorded at 2.65% in January of 2021. Today my duplex value would be over $1,000,000. Two rate cuts may be coming this year. The price was $120,000.

Appraisal

Appraisal Reconsideration of Value Mortgage Contracts

Appraisal Sq. Ft. Appraisal vs. Assessor/Public Records

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? I worked for an assessors office for my first 4 years of appraising, starting in 1975.I Fantastic experience.

Appraisal

Appraisal Valuation Contracts Government

President Trump’s administration just cut more Fair Housing policies: What’s at stake? Who can help?

Housing Wire

APRIL 2, 2025

On March 19, 2025, the General Deputy Assistant Secretary for Housing, Jeffrey Little, sent a mortgage letter to all real estate brokers, closing agents , lenders , and other relevant parties rescinding three policies created to help ensure a nationwide standard for fair treatment even if an appraisal needs to be challenged.

Reconsideration of Value

Reconsideration of Value Real Estate Appraisal Real Estate Agent

Appraisal Time Adjustments

Appraisal Today

MARCH 28, 2025

March 28, 2025 Whats in This Newsletter (In Order, Scroll Down) LIA ad: Navigating Value Revisions On Time Adjustments By Timothy Andersen, MAI 19.5 But our training must govern here and force us to ask the question, Does this adjustment protocol reflect current market verities? Mortgage lending is very, very cyclical.

Appraisal

Appraisal Contracts Business Reconsideration of Value

Trump reportedly explores overhaul of banking regulators

Housing Wire

DECEMBER 13, 2024

President-elect Donald Trump s transition team is reportedly considering sweeping structural changes to bank watchdogs, which have the potential to impact the mortgage market. In addition, the MBA has always supported efforts that would help banks re-engage in the mortgage market, Killmer said.

Reconsideration of Value

Reconsideration of Value Insurance Government Real Estate

Rocket’s counterpunch: Calling Out HUD and the DOJ

Housing Wire

DECEMBER 23, 2024

In October, the Department of Justice (DOJ) made headlines when they sued Rocket Mortgage for housing discrimination in the form of exhibiting alleged appraisal bias. It is counterproductive bureaucracy like this that President-elect Donald Trumps Department of Government Efficiency (DOGE) should (and undoubtedly will) seek to dismantle.

Legal

Legal Reconsideration of Value Law Valuation

Property Appraisal Zone

DOJ sues Rocket, appraisal companies over alleged discrimination

New appraisal bias protections apply to reverse mortgage program: FHA

Trending Sources

The appraisal industry’s governance problem

ICE unveils two new property valuation solutions

Implementation deadline for appraisal review policy pushed to Oct. 31

HUD publishes several changes to reverse mortgage handbook section

Appraisal bias plan promises barrage of actions in the near term

Building a quality-centric culture is essential to ensuring appraisal integrity

HUD, GSEs to Allow Consumers to Seek Reconsideration of Appraisal Valuations

ROV (Reconsideration of Value) Changes – FHA and GSEs

A View on Risk: Desktop Appraisals

Types of Appraisal Values

FHA Appraisal ROV Q&As

Why Appraisal Workfiles Are Important

How to Find Comps With Few Sales

Opinion: The path to modernizing the appraisal process

Common USPAP Appraiser Violations

Kamala Harris talks proposed AVM bias rule as White House announces new appraisal actions

Appraisal WaIvers Can Be Risky

Appraisal Sq. Ft. Appraisal vs. Assessor/Public Records

President Trump’s administration just cut more Fair Housing policies: What’s at stake? Who can help?

Appraisal Time Adjustments

Trump reportedly explores overhaul of banking regulators

Rocket’s counterpunch: Calling Out HUD and the DOJ

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