Housing Wire

MARCH 23, 2022

The Department of Housing and Urban Development ’s long-awaited action plan on appraisal bias outlines administrative actions the federal government will quickly take to address mis-valuations. One challenge in assessing the scope of appraisal bias is rooted in the informal process of challenging an appraised value.

Appraisal 448

Appraisal Reconsideration of Value Government Valuation 448

Appraisal Buzz

AUGUST 26, 2024

Valuations firm Veros Real Estate Solutions has introduced iVALUATION , a new platform that provides housing finance professionals with the quick insights they need to be confident in the accuracy of a property valuation. The platform is engineered to help validate property valuations.

Valuation 195

Valuation Tools Reconsideration of Value Real Estate 195

Housing Wire

MARCH 23, 2023

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.

Appraisal 397

Appraisal Valuation Reconsideration of Value Training 397

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.”

Reconsideration of Value 150

Reconsideration of Value Valuation Appraisal Appraisal Process 150

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). If the error does impact on your opinion of value, acknowledge and revise your appraisal accordingly, as you want your appraisal to be credible.

Reconsideration of Value 91

Reconsideration of Value Clients Appraisal Real Estate Agent 91

Housing Wire

JANUARY 18, 2023

The quickest way to ensure a faster appraisal process is going to be to learn how to work with valuation providers as partners in the process rather than the way most appraisers feel, adversaries. There are several ways we can do that from how we allocate orders, set fee schedules, and handle reconsiderations of values.

Appraisal 397

Appraisal Reconsideration of Value Appraisal Process Technology 397

Housing Wire

FEBRUARY 24, 2023

Concerns of racial bias , a lack of standardization for consumers in the reconsideration of value process and unclear authority in the governance structure are all present amidst increased requests from lenders for a more efficient process that provides value certainty sooner. Is “better” good enough as a starting point?

Appraisal Process 396

Appraisal Process Appraisal Reconsideration of Value Valuation 396

Housing Wire

APRIL 6, 2021

How hybrid title and valuations help increase lending efficiency. 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,” Johnson told HousingWire in August.

Appraisal 540

Appraisal Reconsideration of Value Real Estate Agent Sellers 540

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 334

Appraisal Reconsideration of Value Insurance Mortgage 334

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 370

Government Appraisal Reconsideration of Value Lending 370

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 75

Reconsideration of Value Appraisal Real Estate Insurance 75

Appraisal Buzz

DECEMBER 10, 2024

Kelker has been a leading figure in the appraisal industry renowned for his involvement in shaping valuation regulation. House and Senate staff on valuation issues.

Reconsideration of Value 195

Reconsideration of Value Valuation Real Estate Appraisal 195

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 367

Housing Market Marketing Reconsideration of Value Contracts 367

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 83

Modernization Real Estate Agent Appraisal Process Reconsideration of Value 83

Housing Wire

DECEMBER 20, 2024

We offered a reconsideration of value twice to the client. We ordered this appraisal from a third party, who contracted the state-licensed appraiser. At the end of the day, the client didnt like the appraisal. They refused it twice and ultimately decided not to proceed with the transaction.

Reconsideration of Value 206

Reconsideration of Value Law Clients Appraisal 206

Appraisal Buzz

FEBRUARY 7, 2022

The markets perceived no additional risk in transactions where the appraiser signing off on the valuation of the collateral being utilized for a credit decision did not physically inspect the property. It will give the reader of the report, and the person who will be providing the valuation, a visualization of what exists.

Appraisal 435

Appraisal Inspection Development Technology 435

Walitt Solutions

JULY 9, 2024

Borrower-Initiated Reconsiderations of Value (ROV) Policies Fannie Mae, Freddie Mac, and HUD recently released Borrower-Initiated Reconsiderations of Value policy changes to their Guides and Handbook, which impact lenders, appraisers, AMCs, and… consumers!

Reconsideration of Value 41

Reconsideration of Value Appraisal Valuation Real Estate 41

Appraiserblogs

DECEMBER 21, 2021

Related Posts: Requests for Reconsiderations.appraisers continue to receive requests for reconsiderations on a daily basis. White Paper: Requests for Reconsiderations The paper states that…. Reconsideration of Value Requests Open invitation for spurious reconsideration requests. No thank you.

Reconsideration of Value 138

Reconsideration of Value Law Clients Appraisal 138

Clear Capital

OCTOBER 7, 2024

We’re excited to share some important updates regarding the Reconsideration of Value (ROV) process. Ensuring accurate valuations and timely responses to ROVs not only supports compliance but also enhances trust and transparency in the appraisal process. As appraisers, your role is critical in upholding these standards.

Reconsideration of Value 36

Reconsideration of Value Appraisal Law Valuation 36

Valuation Review

JANUARY 10, 2022

Valuation Review caught up with Clear Capital’s Chief Appraiser John Brenan to discuss the topic of Reconsideration of Value (ROV). Brenan detailed the common reasons ROVs get requested and what appraisers need to know and can expect during this process. Read on for more of our conversation.

Reconsideration of Value 78

Reconsideration of Value Valuation Review Appraisal Valuation 78

Empire Appraisal Group

MAY 9, 2024

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.

Reconsideration of Value 78

Reconsideration of Value Appraisal Valuation Training 78

Cleveland Appraisal Blog

SEPTEMBER 10, 2022

Reconsideration of Value and Appraisers – APPRAISAL TODAY. Reconsideration of Value and Appraisers – APPRAISAL TODAY. Exploring Life & Business with Jamie Owen of Aspen Appraisal Services – VoyageOhio Magazine. Is the Sun Setting on High Prices? – DW Slater Appraisal Blog.

Reconsideration of Value 195

Reconsideration of Value Appraisal Technology Finance 195

McKissock

DECEMBER 28, 2021

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. These are expected to be significant and far-reaching.

Appraisal 96

Appraisal Reconsideration of Value Real Estate Property Appraisal 96

Appraisal Buzz

JULY 17, 2024

These duties include front-end collateral policy design, loan quality control activities for both credit and collateral, condo standards, property valuations designation and modernization, appraisal bias oversight, real estate liquidation options, and Single-Family operational risk management.

Appraisal 221

Appraisal Property Taxes Modernization Reconsideration of Value 221

McKissock

FEBRUARY 13, 2023

James and Jeff will cover current VA appraisal topics including desktop appraisals, reconsiderations of value, and the ways that the VA is monitoring appraisal quality. He is the principal expert for all matters related to residential property appraisals and valuation solutions at Veros. Sign up now.

Appraisal 85

Appraisal Reconsideration of Value Valuation Real Estate 85

Town & Country Residential Appraisals

OCTOBER 21, 2024

It’s called a Reconsideration of Value (ROV) , and it’s a tool that can save the deal, reduce buyer stress, and make real estate agents look like heroes. It’s pretty simple: Submit the request : The buyer (through their lender) requests the appraiser to reconsider their valuation. For agents, you’re key to making this happen.

Appraisal 57

Appraisal Reconsideration of Value Valuation Real Estate Agent 57

Portland Appraisal Blog

APRIL 14, 2019

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. It might be that a clear case can be made for a higher valuation of the subject. So, let’s define it.

Appraisal 78

Appraisal Reconsideration of Value Agents Market Value 78

Annarbor Appraisal

SEPTEMBER 6, 2020

The appraisal is for their benefit, but at the same time, the appraiser needs to complete a fair and supportable valuation. There should never be any bias in favor of any party, or value. When a sale is involved, the valuation may be lower than contracted price. Lenders offer a formal “Reconsideration of Value” (ROV) process.

Mortgage Appraisal 78

Mortgage Appraisal Appraisal Mortgage Reconsideration of Value 78

McKissock

JUNE 22, 2021

Job aid: Big Box Retail Valuations. Job aid: How to Respond to a Reconsideration of Value Request. The useful and practical information within this guide is intended to enhance and strengthen your responses to a mortgage lender’s appraisal appeal, called a reconsideration of value.

Reconsideration of Value 52

Reconsideration of Value Appraisal Real Estate Retail 52

McKissock

FEBRUARY 13, 2023

James and Jeff will cover current VA appraisal topics including desktop appraisals, reconsiderations of value, and the ways that the VA is monitoring appraisal quality. He is the principal expert for all matters related to residential property appraisals and valuation solutions at Veros. View Pro-Series webinars.

Appraisal 52

Appraisal Reconsideration of Value Valuation Real Estate 52

Appraisal Today

JULY 26, 2024

He is a certified general appraiser with more than 30 years of experience in valuation, appraisal and collateral risk management concerns. A Reality Check Southernmost House in Continental U.S. Is for Sale in Key West (It’s Next to the Buoy) for $18.5 million Mortgage applications decreased 2.2

Appraisal 83

Appraisal Valuation Reconsideration of Value Contracts 83

Birmingham Appraisal

FEBRUARY 20, 2024

The appraiser must make sure that they are providing an impartial valuation so that the market value shown in the appraisal is as accurate as possible. For the above reasons, it is very important for accurate valuations during the home-buying process.

Agents 92

Agents Appraisal Real Estate Agent Bracketing 92

Appraisal Today

AUGUST 9, 2024

Market Value and Appraised Value: Exploring Various Appraisal Values By Jo Traut Excerpts: You’ve probably been asked about the difference between “market value and appraised value” by clients seeking a mortgage. However, from the perspective of the valuation profession, this isn’t an accurate question.

Appraisal 68

Appraisal Reconsideration of Value Insurance Market Value 68

Housing Wire

MAY 1, 2024

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.

Reconsideration of Value 476

Reconsideration of Value Appraisal Valuation Realtors 476

Appraisal Today

NOVEMBER 4, 2022

Reconsideration of value and Appraisers. It ruled that the lender did not owe the borrower a legal duty to assure that the independent appraiser’s valuation was correct. Mortgage Borrowers Can Challenge Inaccurate Appraisals Through the Reconsideration of Value Process. We all like free Liability advice!

Reconsideration of Value 52

Reconsideration of Value Appraisal Inspection Advertising 52

Birmingham Appraisal

SEPTEMBER 15, 2022

Appraisers develop an opinion of value for the subject property for various reasons including mortgage underwriting. Other nontraditional uses for an appraisal include valuation for insurance companies, helping sellers arrive at a market value to list their home, estate planning, and tax appeals.

Appraisal 96

Appraisal Inspection Appraisal Process Real Estate Agent 96

Appraisal Today

APRIL 7, 2023

Becoming a Go-to Appraiser for Realtors during a Confusing Time in the Industry Real estate agents and appraisers are taught different methods of valuation both in qualifying and continuing education as well as in the field. The review and analysis of the lender-selected sales are completely irrelevant to the report and opinion of value.

Appraisal 52

Appraisal Property Taxes Reconsideration of Value Contracts 52