Agencies Propose Guidance on ROVS in Residential Valuations

On July 21, 2023, the Federal Reserve, CFPB, FDIC, NCUA, and OCC (together, the agencies) issued proposed guidance on reconsiderations of value (ROV) in residential real estate valuations.  Among other things, the proposed guidance suggests compliant ROV processes and offers example ROV policies and procedures.  Comments are due September 19, 2023.

WBK previously covered the announcement that the agencies planned to seek comment on this proposed guidance and offered an overview here.