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

Housing Wire

MARCH 23, 2023

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. FHFA, along with HUD, [the U.S. Department of Agriculture (USDA) and the U.S.

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Appraisal Valuation Reconsideration of Value Training 397

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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Housing Wire

FEBRUARY 24, 2023

Concerns of racial bias , a lack of standardization for consumers in the reconsideration of value process and unclear authority in the governance structure are all present amidst increased requests from lenders for a more efficient process that provides value certainty sooner. Is “better” good enough as a starting point?

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Appraisal Process Appraisal Reconsideration of Value Valuation 397

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 82

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. Desktop Process Challenges & Risks. Operational and Reputational Risk Implications.

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Appraisal Inspection Development Technology 435

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 74

Appraisal Today

APRIL 5, 2024

Lanham, 20/20 Valuations, and loanDepot.com, U.S. This is one of the appraisal discrimination cases that has received significant attention – among appraisers, the media and government agencies. Waivers are granted using a data based analysis of the reasonableness of the applicant’s self valuation. District Court, Maryland.

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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 448

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 75

DataMaster

JUNE 2, 2023

Yes, we’re talking about reconsideration of value (ROVs) and revision requests. Be aware that HUD, FHFA and the federal government are examining the ROV process related to bias. The Biden-Harris administration has been vocal in its efforts to address racial and ethnic bias in home valuations.

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Reconsideration of Value Valuation Clients Legal 145

DataMaster

JUNE 2, 2023

Yes, we’re talking about reconsideration of value (ROVs) and revision requests. Be aware that HUD, FHFA and the federal government are examining the ROV process related to bias. The Biden-Harris administration has been vocal in its efforts to address racial and ethnic bias in home valuations.

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Reconsideration of Value Valuation Clients Legal 78

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. In addition, the proposed rule expressly includes a nondiscrimination quality control standard.”

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Appraisal Reconsideration of Value Valuation Development 418

Appraisal Today

MARCH 21, 2025

Data cancer is a term used to describe the gradual corruption of real estate valuation data due to repeated reliance on flawed or incomplete information. The FHFA oversees those government-sponsored mortgage companies, so Pultes new roles give him even more control over the direction of Fannie and Freddie. What is Data Cancer?

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Appraisal Reconsideration of Value Mortgage Contracts 52

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

APRIL 2, 2025

When a home is under-appraised, not only do homeowners miss out on the higher home valuation but so does the entire community (roads, bridges, fire departments, water and sewage systems, trash collection, street lighting, disaster relief, EMS, parks, schools, real estate agents, lenders, etc.).

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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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