Appraisal Buzz

AUGUST 26, 2024

Valuations firm Veros Real Estate Solutions has introduced iVALUATION , a new platform that provides housing finance professionals with the quick insights they need to be confident in the accuracy of a property valuation. The platform is engineered to help validate property valuations.

Valuation 195

Valuation Tools Reconsideration of Value Real Estate 195

Appraisal Buzz

MAY 6, 2024

The rule change will enable borrowers to request a re-assessment of the appraised value of their property if they believe that the appraisal was inaccurate or biased, HUD says in a release. Our new policies will arm homeowners, lenders, and FHA with a clear process to address biased or inaccurate appraisals.”

Reconsideration of Value 150

Reconsideration of Value Valuation Appraisal Appraisal Process 150

Housing Wire

JULY 3, 2024

Department of Housing and Urban Development (HUD) — will be updated to accommodate the implementation of a new Reconsideration of Value (ROV) policy for appraisals. These include “improvements to the process by which borrowers may request an ROV if they identify a problem with the appraisal.”

Appraisal 334

Appraisal Reconsideration of Value Insurance Mortgage 334

McKissock

NOVEMBER 16, 2021

To help you out, we’ve put together some practical information to strengthen your responses to a mortgage lender’s appraisal appeal, called a reconsideration of value (ROV). If the ROV has a deadline that is unattainable, you should inform the client immediately. Meet deadlines, if attainable.

Reconsideration of Value 91

Reconsideration of Value Clients Appraisal Real Estate Agent 91

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. Academic research on appraisals has, so far, been limited to self-reported values.

Government 370

Government Appraisal Reconsideration of Value Lending 370

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. The GSE’s have similar policies.

Reconsideration of Value 82

Reconsideration of Value Appraisal Real Estate Insurance 82

Appraisal Buzz

FEBRUARY 7, 2022

We live in a world that is transitioning from the Information Age to the Digital Age. 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. Catalysts of change. Appraiser-specific risks.

Appraisal 435

Appraisal Inspection Development Technology 435

Housing Wire

JANUARY 3, 2023

When it comes to offering an opinion of ‘good or bad’ on HR 7735 — the VA modernization bill — and its ultimate ability to create a better appraisal process for veteran and active duty borrowers, it’s simply too early to tell with too little information being shared on exactly what changes we should expect.

Modernization 83

Modernization Real Estate Agent Appraisal Process Reconsideration of Value 83

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. Usually, the information further supports my opinion of value, when I take a closer look.

Housing Market 368

Housing Market Marketing Reconsideration of Value Appraisal 368

Walitt Solutions

JULY 9, 2024

Borrower-Initiated Reconsiderations of Value (ROV) Policies Fannie Mae, Freddie Mac, and HUD recently released Borrower-Initiated Reconsiderations of Value policy changes to their Guides and Handbook, which impact lenders, appraisers, AMCs, and… consumers! MLS), and rationale for the request for reconsideration.

Reconsideration of Value 41

Reconsideration of Value Appraisal Valuation Real Estate 41

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. Also, underwriters should be trained to identify and remedy appraisal deficiencies, including racial and ethnic bias. .

Reconsideration of Value 78

Reconsideration of Value Appraisal Valuation Training 78

Clear Capital

OCTOBER 7, 2024

We’re excited to share some important updates regarding the Reconsideration of Value (ROV) process. Ensuring accurate valuations and timely responses to ROVs not only supports compliance but also enhances trust and transparency in the appraisal process. What is a borrower-initiated ROV?

Reconsideration of Value 36

Reconsideration of Value Appraisal Law Valuation 36

McKissock

DECEMBER 28, 2021

Desktop appraisals, with information provided by third-party hirelings, may increase. 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. The top ones are reconsideration of values, and growing prevalence of desktop appraisals.

Appraisal 96

Appraisal Reconsideration of Value Real Estate Property Appraisal 96

Town & Country Residential Appraisals

OCTOBER 21, 2024

It’s called a Reconsideration of Value (ROV) , and it’s a tool that can save the deal, reduce buyer stress, and make real estate agents look like heroes. It’s pretty simple: Submit the request : The buyer (through their lender) requests the appraiser to reconsider their valuation. For agents, you’re key to making this happen.

Appraisal 57

Appraisal Reconsideration of Value Valuation Real Estate Agent 57

Annarbor Appraisal

SEPTEMBER 6, 2020

The appraisal is for their benefit, but at the same time, the appraiser needs to complete a fair and supportable valuation. There should never be any bias in favor of any party, or value. When a sale is involved, the valuation may be lower than contracted price. Lenders offer a formal “Reconsideration of Value” (ROV) process.

Mortgage Appraisal 78

Mortgage Appraisal Appraisal Reconsideration of Value Mortgage 78

Portland Appraisal Blog

APRIL 14, 2019

Usually this is done via a document known as a “reconsideration of value” (ROV for short). What is a Reconsideration of Value? In short, a reconsideration of value is another appraisal. A means of passing along important information not previously disclosed to the appraiser. So, let’s define it.

Appraisal 78

Appraisal Reconsideration of Value Agents Market Value 78

Birmingham Appraisal

FEBRUARY 20, 2024

I believe that collaboration between these two real estate professionals means that they share information that promotes a transparent and open transaction. It’s about sharing information when possible and working together through good communication.

Agents 95

Agents Appraisal Real Estate Agent Bracketing 95

McKissock

JUNE 22, 2021

Plus, we’re adding to our library each month so that you get the most current and relevant information to grow your real estate appraisal career. Job aid: Big Box Retail Valuations. Job aid: How to Respond to a Reconsideration of Value Request. Do you already have an Unlimited Learning Membership ?

Reconsideration of Value 52

Reconsideration of Value Appraisal Real Estate Retail 52

Appraisal Today

JULY 26, 2024

He is a certified general appraiser with more than 30 years of experience in valuation, appraisal and collateral risk management concerns. To read more about the 4 ways, plus information on why I take ads, etc. For more information on how they are compiled, Click Here. A Reality Check Southernmost House in Continental U.S.

Appraisal 90

Appraisal Valuation Reconsideration of Value Contracts 90

Birmingham Appraisal

SEPTEMBER 15, 2022

I would like to do my part by informing and educating you on the appraisal part of the transaction. Appraisers develop an opinion of value for the subject property for various reasons including mortgage underwriting. Both closed sales and active listings will be included to arrive at the most accurate value indication.

Appraisal 98

Appraisal Inspection Appraisal Process Real Estate Agent 98

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.

Appraisal 74

Appraisal Reconsideration of Value Insurance Market Value 74

Appraisal Today

APRIL 5, 2024

Particularly when speaking about the workfile, for my money, the most dangerous words in USPAP are “or references to the location(s) of such other data, information, and documentation.” And sometimes, that one crucial piece of information isn’t there anymore when you need it. Lanham, 20/20 Valuations, and loanDepot.com, U.S.

Appraisal 86

Appraisal Contracts Business Construction 86

Appraisal Today

NOVEMBER 4, 2022

Keep them informed.”. LIA runs an informational ad at the top of each email newsletter. Reconsideration of value and Appraisers. It ruled that the lender did not owe the borrower a legal duty to assure that the independent appraiser’s valuation was correct. Remember when they look good and trust you—you look good.

Reconsideration of Value 52

Reconsideration of Value Appraisal Inspection Advertising 52

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.

Reconsideration of Value 476

Reconsideration of Value Appraisal Valuation Realtors 476

Appraisal Today

APRIL 7, 2023

AMCs Assuring that the appraiser has the correct contact information for an inspection is very important. There have been numerous instances in which I have not been able to get ahold of a contact for an inspection only to find out weeks later that the AMC gave me the wrong contact information.

Appraisal 52

Appraisal Property Taxes Reconsideration of Value Contracts 52

Appraisal Today

JULY 12, 2024

It’s not just about acquiring designations but staying informed about market dynamics, industry changes and emerging trends. To read more about the 4 ways, plus information on why I take ads, etc. By staying informed and considering all relevant factors, you can deliver credible valuations.

Appraisal 75

Appraisal Design Contracts Business 75

Appraisal Today

FEBRUARY 23, 2024

To read more about the 4 ways, plus information on why I take ads, etc. Also, I am very good at collecting and analyzing various pieces of information to come to a conclusion. I read articles online and in the local newspaper, but they didn’t have much information. For more information on how they are compiled, Click Here.

Appraisal 75

Appraisal Real Estate Contracts Reconsideration of Value 75

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%

Appraisal Process 448

Appraisal Process Modernization Appraisal Valuation 448

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.

Reconsideration of Value 446

Reconsideration of Value Valuation Real Estate Appraisal 446

Appraisal Buzz

OCTOBER 4, 2021

As an appraiser, I knew the value came in low, so I asked to submit a reconsideration of value. The appraiser agreed with my viewpoint and increased his opinion of value by $100,000. I fear claims of racial bias will become the new way to shop for value. RECONSIDERATIONS OF VALUE.

Reconsideration of Value 397

Reconsideration of Value Appraisal Valuation Mortgage 397

Appraisal Buzz

JANUARY 17, 2025

Modernized all 50 states, territories, and the District of Columbia on HUD.gov , reducing pages from 2,500 to 100, featuring a streamlined, trauma-informed design that enhances accessibility to vital resources like affordable housing services, disaster recovery assistance, and homeownership support, empowering communities nationwide.

Investing 195

Investing Reconsideration of Value Modernization Development 195

Appraisal Buzz

JULY 19, 2024

The new rule allows consumers to provide financial institutions with information that may not have been considered during an appraisal or if deficiencies are identified in the original appraisal and request a reconsideration of value, or ROV.

Real Estate 150

Real Estate Reconsideration of Value Appraisal Valuation Review 150

DataMaster

JUNE 2, 2023

Yes, we’re talking about reconsideration of value (ROVs) and revision requests. The Biden-Harris administration has been vocal in its efforts to address racial and ethnic bias in home valuations. In 2022, the administration launched the interagency task force on Property Appraisal and Valuation Equity (PAVE).

Reconsideration of Value 145

Reconsideration of Value Valuation Clients Legal 145

DataMaster

JUNE 2, 2023

Yes, we’re talking about reconsideration of value (ROVs) and revision requests. The Biden-Harris administration has been vocal in its efforts to address racial and ethnic bias in home valuations. In 2022, the administration launched the interagency task force on Property Appraisal and Valuation Equity (PAVE).

Reconsideration of Value 78

Reconsideration of Value Valuation Clients Legal 78

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. To read more about the 4 ways, plus information on why I take ads, etc. My comments: For more information, google Shane Lanham, appraiser. What is Data Cancer?

Appraisal 52

Appraisal Reconsideration of Value Mortgage Contracts 52

Appraisal Today

MARCH 14, 2025

The March 2025 issue of Appraisal Today has a very comprehensive article for appraisers: Can you use the assessors assessment values for site valuation, by Tim Andersen, MAI. To read more about the 4 ways, plus information on why I take ads, etc. What if a company’s website has no contact information?

Appraisal 52

Appraisal Valuation Contracts Government 52

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.

Legal 397

Legal Reconsideration of Value Law Valuation 397