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Refusing to Reconsider a Valuation

Answered by: 

Question: 
Can we refuse to reconsider a value?
Answer: 

You could, but the guidance makes it clear that if the valuation is low and that is ignored, the bank could be at fault as would the appraiser and this could be a discriminatory practice. Weigh the ROV needs of the bank to a regulatory and DoJ fair lending investigation.

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Learn more about Andy Zavoina’s, What You Need to Know About ROVs webinar.

First published on 08/20/2023

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