NAR joined a group of industry and consumer groups in a responsepdf to the Federal Housing Administration's (FHA) request for comment on its proposed revision to a mortgagee letter on reconsideration of value (ROV).

This response is in addition to NAR's individual responsepdf to the FHA.

The coalition requests in the letter:

  1. A pause in the FHA's revision until they engage with other regulators to create a uniform policy;
  2. Efforts to Improve education with consumers about the ROV process;
  3. Clear guidance for all parties on the new rule; and
  4. Compliance with current law where the FHA would monitor for bias and share any concerns with enforcement agencies as well as other guarantor agencies and the government-sponsored enterprises (GSEs). 
Notice: The information on this page may not be current. The archive is a collection of content previously published on one or more NAR web properties. Archive pages are not updated and may no longer be accurate. Users must independently verify the accuracy and currency of the information found here. The National Association of REALTORS® disclaims all liability for any loss or injury resulting from the use of the information or data found on this page.

Ken Fears

Ken Fears is the Senior Policy Representative for Banks, Lending, and Housing Finance for the National Association of REALTORS®.

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