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More significantly, loanDepot.com agreed to an extensive revamping of: (a) its reconsideration of value practices; (b) fair housing/non-discrimination training requirements; (c) statistical tracking of appraisal outcomes; and (d) training and contractual requirements for AMCs and appraisers.
Excerpts: Suggested protocols for responding to Reconsideration of Value requests. Click here to listen to Tim Andersen, MAI’s podcast, “Reconsiderations of Value: Satan’s Own Seed, Right?” The post Reconsideration of Value and Appraisers appeared first on Appraisal Today. By Greg Stephens, SRA, AI-RRS.
Nonetheless, America is still faced with low inventory, uncertain interest rates, and cash-strapped homebuyers. In addition to low housing inventory and uncertain rates, next year’s homebuyers are likely to be somewhat apprehensive about the “fear of missing out (FOMO).”
Additionally, all other prior supporting communications related to the three rescinded MLs such as FHA INFOs and training have been removed from hud.gov. Reconsideration of Value The underwriter may request a reconsideration of value when the Appraiser did not consider information that was relevant on the effective date of the appraisal.
But our training must govern here and force us to ask the question, Does this adjustment protocol reflect current market verities? Using only an annual increase (Like most of us were trained to do) is not very accurate. times 42-days or $5,523. This rationale is mathematically correct. He is a USPAP Expert. Acre lot $19.5
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