Blog: The Voice of Reason for DC Real Estate

The Voice Of Reason In Washington DC Real Estate

Commentary, opinion & news on real estate-related topics by Washington DC real estate expert Susan Isaacs.

May 16, 2024

SusanIsaacs

Washington DC home appraisals

NEW APPRAISAL REVIEW PROCESS

HUD, GSEs to Offer New Appraisal Review Option Finally, an easier way to contest bad appraisals Home appraisals now warrant an official second look if they are inaccurate or bias is suspected in the process. Starting this August, HUD (U.S. Dept. of Housing & Urban Development), FHA (Federal Housing Administration), and GSEs (government-sponsored enterprises) Fannie Mae & Freddie Mac will allow borrowers to request a re-assessment of the appraised value of their property. The ‘Reconsideration of Value’ policy offers an aligned approach for FHA-insured mortgages and those purchased or guaranteed by Fannie Mae and Freddie Mac. ‘ROV’ requires lenders to