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Implementation deadline for appraisal review policy pushed to Oct. 31

Housing Wire

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.

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White House marks one year of PAVE appraisal bias action plan

Housing Wire

Thursday, March 23 marks the one-year anniversary since the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) released its action plan to curb instances of bias in the housing appraisal process. Led by U.S. FHFA, along with HUD, [the U.S. Department of Agriculture (USDA) and the U.S.

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New Requirements Aim to Reduce Appraisal Bias

Empire Appraisal Group

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.

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Progress now or perfect later: Improving the appraisal process

Housing Wire

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 property appraisal process to work better for every stakeholder. The use of absolute words can sometimes be discouraging to finding iterative solutions.

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2022 Appraisal Outlook: Appraisers Cast Optimistic Eye On Coming Year

McKissock

Another content and curriculum manager at McKissock, Dan Bradley, warns that three major unknowns face the appraisal profession for 2022: the PAVE (Property Appraisal and Valuation Equity) task force ; inflation and interest rates; and property values/market conditions. Paul, Minn.).

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FREE Webinar: Update on Current VA Appraisal Topics

McKissock

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 Real Estate Solutions. Sign up now.

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HUD and FHA announce new appraisal bias protections

Housing Wire

Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA) announced a new policy on Wednesday that will enable mortgage borrowers to “request a re-assessment of the appraised value of their property if they believe that the appraisal was inaccurate or biased,” according to an announcement from HUD.