Why would home price appreciation (HPA) get adjusted in my monthly statement?
Up&Up uses the US Government’s Federal Housing Finance Agency’s (FHFA) quarterly index of HPA to estimate the fair market value of your home. The FHFA reserves the right to adjust their price indices retroactively based on new, more accurate information, and so these estimates of home value are occasionally subject to change.
If the FHFA adjusts their price indices, we will update the estimated fair market value of your home accordingly. This adjustment will appear on your monthly email statement. This ensures that your Wallet balance always reflects the most up-to-date data, so that you have an accurate picture of how much wealth you’ve built with Up&Up!
Why has the value of my Wallet (historical or current) changed in the Up&Up app?
At any given time, the historical and current Wallet values available in the Up&Up mobile app represent the most up-to-date estimates of your Up&Up Wallet. If we get new information regarding factors like home price appreciation, or update our accounting information, we recalculate your Wallet value from move-in to the present. As a result, you might notice that a statement value from a previous month has changed within the app. However, don’t worry! The value you see is always the most accurate. We at Up&Up are committed to always delivering the most accurate Wallet information possible.