UNDERSTANDING FREDDIE MAC’S NEW RECONSIDERATION OF VALUE (ROV) PROCESS: WHAT YOU NEED TO KNOW Effective August 29, 2024, Freddie Mac, in collaboration with Fannie Mae and HUD, is introducing significant changes to the Reconsideration of Value (ROV) process. These changes are aimed at ensuring consistency and fairness when dealing with
OVerview The global economic landscape in Q4 2023 was shaped by the interplay of predictable macroeconomic cycles and modern monetary theories. Despite expectations of a demand slowdown, the broader economy remained resilient, with Federal Reserve Chairman Jerome Powell indicating a potential peak in policy tightening. This was reflected in the
The Importance of Accurately Measuring Square Footage in Real Estate Appraisals As a real estate appraiser, accurately measuring square footage is a crucial aspect of determining the value of a property. In order to provide a fair and accurate assessment, it is essential to have a thorough understanding of the
What Hurts a Home Appraisal: A Comprehensive Guide A home appraisal is an essential part of the home buying or selling process. It helps to determine the market value of a property, which in turn helps buyers, sellers, and lenders to make informed decisions. However, not all home appraisals go
How long does an appraisal take? Appraisals are a critical aspect of the real estate industry, which often leads to the question, “How long does an appraisal take?” If you’re looking to buy or sell a property, it’s essential to understand the appraisal process and how long it takes. In
BPO vs AVM: A Side-by-Side Comparison Broker’s price opinion (BPO) and automated valuation models (AVMs) are two popular methods used in the real estate industry to determine the value of a property. Both have their own unique advantages and disadvantages, and choosing the right method depends on the specific needs
What is an Appraisal Management Company? An appraisal management company (AMC) is a third-party service provider that manages the appraisal process for lenders, banks, and other mortgage companies. These companies are responsible for selecting, contracting, and managing appraisers, as well as ensuring compliance with appraisal laws and regulations. The use
How to Get a Mortgage with Bad Credit Purchasing a home is a dream for many, but it can be a daunting task especially for those with bad credit. It’s like trying to climb a mountain with a broken leg, it’s going to be a lot harder, but it’s not
How to Become a Mortgage Loan Officer: A Comprehensive Guide Becoming a mortgage loan officer is a great career choice for those who are passionate about helping people achieve their dreams of homeownership. As a loan officer, you will be responsible for assessing the creditworthiness of potential borrowers, recommending loan
