Lending and Reconsideration of Value - Property Appraisal Zone

New appraisal bias protections apply to reverse mortgage program: FHA

Housing Wire

MAY 2, 2024

An announcement on Thursday from HUD and a new Mortgagee Letter (ML) published Wednesday by the FHA clarifies that the policy applies to all Title II single-family programs, including the Home Equity Conversion Mortgage (HECM) reverse lending program.

Reconsideration of Value

Reconsideration of Value Appraisal Mortgage Valuation

Free Webinar: Components of AMC Training by Josh Walitt

Appraisal Buzz

JUNE 7, 2021

Josh : The course is taken by staff of lending institutions and appraisal management companies and centers on the need for companies to meet or exceed clients’ and regulators’ minimum training requirements. Buzz : How should AMCs handle a reconsideration of value (ROV)?

Training

Training Reconsideration of Value Valuation Appraisal

How to Respond to a Reconsideration of Value Request

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). There are appraisal terms and concepts that even individuals in the lending industry sometimes have a difficult time understanding.

Reconsideration of Value

Reconsideration of Value Clients Appraisal Real Estate Agent

ROV (Reconsideration of Value) Changes – FHA and GSEs

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.

Reconsideration of Value

Reconsideration of Value Appraisal Real Estate Insurance

White House marks one year of PAVE appraisal bias action plan

Housing Wire

MARCH 23, 2023

The White House also says that it is aiming to change the nature of the appraisal profession itself, “taking steps to remove unnecessary educational and experience requirements that make it difficult for underrepresented groups to access the profession and to strengthen anti-bias, fair housing, and fair lending training of existing appraisers.”

Appraisal

Appraisal Valuation Reconsideration of Value Training

Building a quality-centric culture is essential to ensuring appraisal integrity

Housing Wire

JULY 1, 2024

These entities have implemented measures allowing homeowners to request reconsideration of appraisals, aiming to ensure fairness and accuracy. Moreover, tools like Fannie Mae’s Collateral Underwriter® (CU®) have been introduced to enhance the scrutiny of appraisal data.

Appraisal

Appraisal Reconsideration of Value Technology Tools

The appraisal industry’s governance problem

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. The regime has limited its accountability and enforcement systems. That process varies from lender to lender.

Government

Government Appraisal Reconsideration of Value Lending

The appraisal gap is complicating deals across the country

Housing Wire

APRIL 6, 2021

How hybrid title and valuations help increase lending efficiency. I disputed the appraisal with three more comps along with receipts of all the upgrades over $25,000 and he still refused to adjust the value,” she said. She recently had a deal fall apart due to appraisal. Streamline by combining services. Presented by: Altisource. “I

Appraisal

Appraisal Reconsideration of Value Real Estate Agent Sellers

Opinion: The pros and cons of VA modernization bill

Housing Wire

JANUARY 3, 2023

When it comes to establishing market value, I think the VA appraisal at present determines this as well as any other. When value is not achievable in the opinion of the appraiser — both Tidewater and Reconsideration of Value allow more protective flexibility for the borrower than any other loan type.

Modernization

Modernization Real Estate Agent Appraisal Process Reconsideration of Value

The Housing Market Has Become Like the Pymatuning Spillway

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. I’m grateful that nearly half of my work these days is not for lending purposes.

Housing Market

Housing Market Marketing Reconsideration of Value Appraisal

The Loan Officer’s Guide to Appraisals Part 7: How Can the Appraisal Process be Sped Up?

Riverfront Appraisals

JULY 1, 2021

So far, we’ve covered final inspections, lending on unique homes, communication with the appraiser, reconsiderations of value, bracketing and FHA appraisals. For the past six months, I’ve been blogging with the purpose of assisting loan officers to better understand the appraisal process. And, you’ll definitely […].

Appraisal Process

Appraisal Process Reconsideration of Value Final Inspection Appraisal

The Loan Officer’s Guide to Appraisals Part 6: How are FHA Appraisals Different From Others?

Riverfront Appraisals

JUNE 13, 2021

So far in our series, we’ve looked at final inspections, lending on unique homes, communication with the appraiser, reconsiderations of value and bracketing. […]. This post is part six of a 12-part series we’re calling The Loan Officer’s Guide to Appraisals. We’re halfway there!

Reconsideration of Value

Reconsideration of Value Final Inspection Appraisal Bracketing

The Loan Officer’s Guide to Appraisals Part 5: What is bracketing and why do we do it?

Riverfront Appraisals

APRIL 30, 2021

So far in our series, we’ve looked at final inspections, lending on unique homes, communication with the appraiser, and reconsiderations of value. This post is part five of a 12-part series we’re calling The Loan Officer’s Guide to Appraisals. So if this is […]. appeared first on Riverfront Appraisals.

Bracketing

Bracketing Reconsideration of Value Final Inspection Appraisal

2022 Appraisal Outlook: Appraisers Cast Optimistic Eye On Coming Year

McKissock

DECEMBER 28, 2021

One possibility being discussed is a standardized reconsideration of value process that a property owner can utilize if they believe their house was undervalued by an appraiser. It’s likely that the task force’s recommendations will be adopted by most of the major players in the residential mortgage lending arena. Paul, Minn.).

Appraisal

Appraisal Reconsideration of Value Real Estate Property Appraisal

The Appraiser’s Perspective: Insights and Tips for Real Estate Agents

Birmingham Appraisal

JUNE 13, 2023

You should never discuss value, however, you can discuss errors in factual information such as the number of bedrooms or bathrooms, or the number of acres the house is located on. Request a reconsideration of value- If you disagree with the appraised value, you can request a reconsideration of value from the lender.

Real Estate Agent

Real Estate Agent Real Estate Agents Reconsideration of Value

Challenging a mortgage appraisal

Annarbor Appraisal

SEPTEMBER 6, 2020

Lenders offer a formal “Reconsideration of Value” (ROV) process. If the value remains the same, then it is time to renegotiate or move on. Remember the appraisal is for the benefit of the lender to ensure there is adequate collateral for the property they are lending on.

Mortgage Appraisal

Mortgage Appraisal Appraisal Mortgage Reconsideration of Value

New Homebuyer’s Guide To Appraisals

Birmingham Appraisal

SEPTEMBER 15, 2022

A mortgage appraisal is an appraisal that is done for mortgage lending purposes. Banks are typically absolved from discrepancies between the amount they lend and the true market value of the home meaning that they will not be held responsible to the buyer. What is a Mortgage Appraisal?

Appraisal

Appraisal Inspection Appraisal Process Real Estate Agent

Why Agents Should Share Their CMA With The Appraiser

Birmingham Appraisal

FEBRUARY 20, 2024

The lender then obtains an appraisal to make sure that the property they are lending on, which is the collateral for the loan, is worth what they are paying for it. The sales can be considered during the development of the appraisal rather than after it is completed through a reconsideration of value which can delay the home buying process.

Agents

Agents Appraisal Real Estate Agent Bracketing

Are Appraisers Professionals?

Appraisal Today

JULY 12, 2024

Short-term rentals (STRs) and Form 1007 Excerpts: When appraising an STR for conventional mortgage lending, the appraiser must take care to only include the real property in the value, not the personal property or the business/going concern. The appraisal includes no recent sales of similar design.

Appraisal

Appraisal Design Contracts Business

HUD settles with JPMorgan over appraisal bias case

Housing Wire

MARCH 9, 2021

The finance giant will also begin training home lending advisors and client care specialists in the reconsideration of value process and fair lending issues related to appraisals. Under the conciliation agreement , JPMorgan will pay the homeowner, a Black woman, $50,000.

Reconsideration of Value

Reconsideration of Value Appraisal Valuation Appraisal Process

How to Find Comps With Few Sales

Appraisal Today

FEBRUARY 23, 2024

Take Note of GSE Requirements To read more, Click Here My comment: If you do residential lending appraisals, read this article! This will save time, especially when consumers request a Reconsideration of Value. Very comprehensive. I have been hearing rumors for years about GSE complaints.

Appraisal

Appraisal Real Estate Contracts Reconsideration of Value

Reconsideration of Value and Appraisers

Appraisal Today

SEPTEMBER 9, 2022

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.

Reconsideration of Value

Reconsideration of Value Appraisal Clients Contracts

Getting Appraisers to Reconsider Value—Do’s & Don’ts

Portland Appraisal Blog

APRIL 14, 2019

The purpose of this blog post is to lend some insight into what an agent should do and not do during the third stage. 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.

Appraisal

Appraisal Reconsideration of Value Agents Market Value

Practical Tips for Working With AMCs

Appraisal Today

NOVEMBER 4, 2022

Reconsideration of value and Appraisers. Mortgage Lending You decide. Mortgage Borrowers Can Challenge Inaccurate Appraisals Through the Reconsideration of Value Process. Excerpts: Accurate appraisals are essential to the integrity of mortgage lending. We all like free Liability advice!

Reconsideration of Value

Reconsideration of Value Appraisal Inspection Advertising

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

Housing Wire

OCTOBER 24, 2024

Handling a below-contract appraisal and request for reconsideration of value (ROV). Anticipating issues regarding rate lock and/or mortgage contingency expirations.

Training

Training Mortgage Reconsideration of Value Architecture

Appraisal WaIvers Can Be Risky

Appraisal Today

MARCH 21, 2025

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. The underwriter must provide the Appraiser with all relevant data that is necessary for a reconsideration of value.

Appraisal

Appraisal Reconsideration of Value Mortgage Contracts

President Trump’s administration just cut more Fair Housing policies: What’s at stake? Who can help?

Housing Wire

APRIL 2, 2025

How Littles letter might hurt Fair Housing (and lending) What is canceled: ML 2024-07 (Appraisal review and reconsideration of value updates) This policy had nationwide rules to let borrowers ask for a second look if they thought their home was appraised too low (called a Reconsideration of Value).

Reconsideration of Value

Reconsideration of Value Real Estate Appraisal Real Estate Agent

Appraisal Time Adjustments

Appraisal Today

MARCH 28, 2025

Mortgage lending is very, very cyclical. They rescind the reconsideration of value (ROV) process implemented by the FHA during the administration of President Joe Biden in response to findings of possible appraisal bias. If you are reading this, you are a survivor. Those who adapt survive. You can survive the current downturn.

Appraisal

Appraisal Contracts Business Reconsideration of Value

Trump administration lifts FHA appraisal bias protections

Inman

MARCH 21, 2025

Lenders no longer under orders to keep a sharper lookout for appraisal bias or have a process for helping borrowers who suspect appraisal bias to ask for a "reconsideration of value."

Reconsideration of Value

Reconsideration of Value Appraisal Property Appraisal Valuation

Rocket’s counterpunch: Calling Out HUD and the DOJ

Housing Wire

DECEMBER 23, 2024

While Rocket does not have the authority to directly intervene in the process, the law does map out a path for appeal in cases where error or bias are suspected; its called reconsideration of value (ROV). But according to federal guidelines, the ROV process must be initiated by the home buyer, not the lender.

Legal

Legal Reconsideration of Value Law Valuation

Property Appraisal Zone

New appraisal bias protections apply to reverse mortgage program: FHA

Free Webinar: Components of AMC Training by Josh Walitt

Trending Sources

How to Respond to a Reconsideration of Value Request

ROV (Reconsideration of Value) Changes – FHA and GSEs

White House marks one year of PAVE appraisal bias action plan

Building a quality-centric culture is essential to ensuring appraisal integrity

The appraisal industry’s governance problem

The appraisal gap is complicating deals across the country

Opinion: The pros and cons of VA modernization bill

The Housing Market Has Become Like the Pymatuning Spillway

The Loan Officer’s Guide to Appraisals Part 7: How Can the Appraisal Process be Sped Up?

The Loan Officer’s Guide to Appraisals Part 6: How are FHA Appraisals Different From Others?

The Loan Officer’s Guide to Appraisals Part 5: What is bracketing and why do we do it?

2022 Appraisal Outlook: Appraisers Cast Optimistic Eye On Coming Year

The Appraiser’s Perspective: Insights and Tips for Real Estate Agents

Challenging a mortgage appraisal

New Homebuyer’s Guide To Appraisals

Why Agents Should Share Their CMA With The Appraiser

Are Appraisers Professionals?

HUD settles with JPMorgan over appraisal bias case

How to Find Comps With Few Sales

Reconsideration of Value and Appraisers

Getting Appraisers to Reconsider Value—Do’s & Don’ts

Practical Tips for Working With AMCs

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

Appraisal WaIvers Can Be Risky

President Trump’s administration just cut more Fair Housing policies: What’s at stake? Who can help?

Appraisal Time Adjustments

Trump administration lifts FHA appraisal bias protections

Rocket’s counterpunch: Calling Out HUD and the DOJ

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