Remove Insurance Remove Loan Officers Remove Reconsideration of Value
article thumbnail

ROV (Reconsideration of Value) Changes – FHA and GSEs

Appraisal Today

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.

article thumbnail

New Homebuyer’s Guide To Appraisals

Birmingham Appraisal

Other nontraditional uses for an appraisal include valuation for insurance companies, helping sellers arrive at a market value to list their home, estate planning, and tax appeals. There is always the possibility that the appraisal value is less than the contract price. What If The Appraisal Is Less Than The Contract?

Insiders

Sign Up for our Newsletter

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

article thumbnail

Five federal agencies finalize new guidance for ROVs

Housing Wire

A coalition of five federal agencies — the Consumer Financial Protection Bureau (CFPB), the Federal Deposit Insurance Corp. Some comments recommended the addition of more “prescriptive guidance” and highlighted the potentially burdensome nature for some organizations to comply.

article thumbnail

Opinion: Mortgage lenders need to shore up training about the 2025 homebuyer incentives

Housing Wire

Trained counselors can bring much-needed clarity to a complex process, even when customers are dealing with a highly competent realtor or loan officer. Acceptable forms of non-traditional documentation to verify payments for rent, utilities, cable, telephone, health insurance, tuition, child care, workers’ union, and equipment leases.

Training 435