NRMLA Commenting On Appraisal Reconsideration Proposal

NRMLA Commenting On Appraisal Reconsideration Proposal

On behalf of its members, NRMLA recently submitted comments to the Federal Housing Administration in response to a proposed policy change that’s intended to help people seeking FHA financing to request a review of their appraisal if they believe the results may have been skewed by racial bias.

FHA says the purpose of the policy change is to improve the process when prospective borrowers applying for FHA-insured “forward” mortgages or HECMs request a Reconsideration of Valuation on a property if the initial valuation is lower than expected, there is an indication of illegal bias, Fair Housing regulations have been violated or unlawful discrimination has been identified.

In its comments, NRMLA asked FHA to work with industry participants to better address how prospective borrower- or Mortgagee-initiated ROV requests properly fit into FHA’s unique collateral risk assessment program for HECMs.

Members can read the comment letter in its entirety by logging into the Comment Letters section of

Published by

Darryl Hicks

Darryl Hicks is Vice President of Communications for the National Reverse Mortgage Lenders Association. In this capacity, Hicks writes for NRMLA's publications, manages the association's web sites and social media accounts, assists committees and the Board of Directors, and manages the Certified Reverse Mortgage Professional designation. Prior to joining NRMLA in 1999, Hicks spent three years in the Washington, D.C. bureau for National Mortgage News.