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.
Housing Wire
JUNE 9, 2023
The proposed guidance advises on policies that financial institutions may implement to allow 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 ,” the announcement states.
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Housing Wire
MAY 20, 2024
Property eligibility, HECM for Purchase In a section about property eligibility, HUD has added new language stating that if a “property has a water source that includes a mechanical chlorinator or is served by springs, lakes, rivers, or sand-point or artesian wells, the property is not eligible for FHA mortgage insurance.”
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.
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.
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.”
Appraisal Buzz
DECEMBER 10, 2024
Prior to joining the company, he held executive roles in various real estate finance areas, including managing risks for lenders and a mortgage insurer, and performing mortgage default investigations for a due diligence firm. For the past 12 years, Kelker has overseen regulatory, compliance, and financial risks at SingleSource.
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