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Most AMCs offer a process called a Reconsideration of Value Request, or ROV, that when properly presented, encourages the appraiser to review the work based on additional appropriate data submitted. In March, the FHFA eased its standards for propertyappraisals to help keep families and employees safe throughout the pandemic.
I hear these phrases quite often when it comes to product and software development, but I think they apply very well to solving complex problems like transforming the propertyappraisal process to work better for every stakeholder. But if accurate AVMs help remove forms of bias right now, then that seems like a worthwhile evolution.
This blog is part four of a 12-part series we’re calling The Loan Officer’s Guide to Appraisals. The post The Loan Officer’s Guide to Appraisals Part 4: Tips for a Successful Reconsideration of Value appeared first on Riverfront Appraisals. But don’t let the name fool you. Even though we’re […].
Appraisers recently contacted by McKissock tend to agree that the profession will go generally well in 2022, with no major changes to the realestate market and no events on the horizon that could seriously upset appraisers’ business. Desktop appraisals, with information provided by third-party hirelings, may increase.
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.
For the past six months, I’ve been blogging with the purpose of assisting loan officers to better understand the appraisal process. So far, we’ve covered final inspections, lending on unique homes, communication with the appraiser, reconsiderations of value, bracketing and FHA appraisals.
This post is part six of a 12-part series we’re calling The Loan Officer’s Guide to Appraisals. So far in our series, we’ve looked at final inspections, lending on unique homes, communication with the appraiser, reconsiderations of value and bracketing. […]. appeared first on Riverfront Appraisals.
McKissock Learning is hosting a FREE one-hour, non-credit Pro-Series webinar titled “Current Topics with the VA,” featuring a discussion with James Heaslet, Chief Appraiser for the Department of Veterans Affairs and Jeffrey Hogan, Vice-President at Veros RealEstate Solutions.
This post is part five of a 12-part series we’re calling The Loan Officer’s Guide to Appraisals. So far in our series, we’ve looked at final inspections, lending on unique homes, communication with the appraiser, and reconsiderations of value. appeared first on Riverfront Appraisals. So if this is […].
McKissock Learning is hosting a FREE one-hour, non-credit Pro-Series webinar titled “Current Topics with the VA,” featuring a discussion with James Heaslet, Chief Appraiser for the Department of Veterans Affairs and Jeffrey Hogan, Vice-President at Veros RealEstate Solutions.
ValuingAppraiser Professionalism: A Blueprint for Survival By Jo Traut, McKissock Learning Excerpts: Having spent nearly three decades in the field of realestateappraisal, I’ve witnessed firsthand the evolution of our profession, particularly with respect to technological advancements. I got it for MLS access.
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. Appraisers must also provide three comparable sales on each listing.
Our industry must support and adopt solutions like the Practical Applications of RealEstateAppraisal (PAREA) and allow students to engage in simulated/virtual training programs in every state. Reconsideration of Value (ROV) process. Additionally, as directed by the Biden administration, the U.S.
Instead, we provide an informed, objective opinion of the value of the property based on several factors and criteria as well as the type of value we’re asked to provide. Learn more about the different appraisalvalues and the factors that go into each. 31, 2024.
Assessor, The R Word, HUD Appraiser Complaints March 14, 2025 Whats in This Newsletter (In Order, Scroll Down) LIA AD: Navigating value revisions in appraisals Why Is the Square Footage in Public Records Different from the Appraisal? Binneys framing of the challenges that appraisers have faced around this thorny issue.
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