The Federal Financial Institutions Examination Council’s Appraisal Subcommittee next month is scheduled to hold its third public hearing on appraisal bias, the residential appraisal process, and associated regulations.
Details: Scheduled for 10 a.m. (Eastern time) Wednesday, Nov. 1, the hearing will explore how a residential appraisal is developed and reviewed, reconsiderations of value, key challenges, and rural appraisals.
ICBA Advocacy: ICBA recently welcomed proposed guidance addressing reconsiderations of value, or ROVs, for residential real estate transactions as a good first step that regulators should build on to avoid excessive use of ROVs.