Appraisal Industry News & Updates
Fannie Mae Selling Guide Updates for Appraisers
Fannie Mae just announced key updates to its Selling Guide, which go into effect in February 2025, with changes for appraisers regarding how market trends are analyzed and how comparable sales are selected and adjusted. While many appraisers have been operating under...
Colorado Appraiser License Renewal Information from DORA
The Division of Real Estate sent out their bi-monthly update this week and it includes the renewal information for Colorado appraisers. If you still need to complete the 7-Hour National USPAP Update in order to renew your appraiser license, you can still register for...
Updated UAD Redesign & Implementation Timeline
Freddie Mac and Fannie Mae (the GSEs) released a detailed timeline for migration to the Uniform Appraisal Dataset (UAD) 3.6 and dynamic Uniform Residential Appraisal Report (URAR). While the timeline has not changed, specific dates for each implementation phase have...
Borrower-Initiated Reconsideration of Value (ROV) FAQs
Fannie Mae recently published Frequently Asked Questions for our Borrower-Initiated Reconsideration of Value (ROV) policy. This can be a helpful resource for lenders who are implementing the new policy and for appraisers, borrowers, and others who want a better...
Reimagining Accountability for Colorado Real Estate Appraisers
Our very own JoAnn Apostol was recently interviewed by Appraisal Buzz! In the interview JoAnn shares valuable insights into Colorado’s new approach to handling appraiser disciplinary actions. With the Colorado Appraisal Board leading the charge, JoAnn explains how...
USPAP Audit For Appraiser License Renewal
The Colorado Department of Regulatory Agencies (DORA) just sent out a notification today regarding the Real Estate Appraiser Upcoming USPAP Audit: "Summer is coming to its unofficial end, which means the Division is approaching its annual renewal season. All renewing...
New ROV Policy Change
On August 6, 2024, Fannie Mae issued a Selling Guide Announcement (SEL-2024-03) that extended the implementation deadline to October 31, 2024 for their new Reconsideration of Value (ROV) process. Freddie Mac and HUD announced the same implementation date extension...
Agencies Finalize Interagency Guidance on Reconsiderations of Value for Residential Real Estate Valuations
Five federal regulatory agencies today issued final guidance addressing reconsiderations of value (ROVs) for residential real estate transactions. The guidance advises on policies and procedures that financial institutions may implement to allow consumers to provide...
AQB Q&A – Valuation Bias & Fair Housing CE Requirement
Recently, the Appraiser Qualifications Board (AQB) has proposed new requirements for those looking to become an appraiser or renew their certification/license. These include mandatory completion of an initial fair housing course lasting seven hours by January 1st...
Submit feedback on the AQB Concept Paper by July 27th
The Appraiser Qualifications Board (AQB) has a Concept Paper exploring the college degree requirement available for public comment until July 27th. Here are some important links: Concept Paper on the college degree requirement Accompanying reference material Comment...
2024 USPAP Q&A
Earlier this week, the Appraisal Standards Board released a new Question and Answer covering Yellow Book and Competency. 2024-07: Yellow Book & Competency Question: My client has requested an appraisal assignment that would be used in connection with the...
FHA Announces Technology Updates and Webinar for its Appraisal Review and Reconsideration of Value Policy
Today, the Federal Housing Administration (FHA) is announcing updates to its FHA Connection (FHAC) system and an industry stakeholder briefing webinar as part of the implementation of its Appraisal Review and Reconsideration of Value Updates Mortgagee Letter (ML)...
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