Borrowers may initiate a Reconsideration of Value (ROV) upon receipt of an appraisal report. This process is in accordance with guidelines and requirements from the Department of Housing and Urban Development (HUD), the Federal Housing Finance Agency (FHFA), Fannie Mae, and Freddie Mac. Reconsideration of Values (ROVs) allow borrowers to appeal the appraised value if the assessment is unsupported by the appraisal data returned or if any bias/discriminatory practices may be present within the appraisal report itself. 


Lenders are expected to provide an easy-to-comprehend disclosure letter to borrowers upon delivery of the appraisal report. The ROV Disclosure letter should include the lender's policy on what warrants an ROV, how to submit the ROV request, information the borrower must supply within the ROV request, and any other pertinent protocol the borrower is expected to follow. 


Appraisal FirewallX allows lenders to include their organization's ROV disclosure letter at the time the appraisal report is delivered to the borrower. Borrower(s) will receive a Property Document(s) email notification that has a link to access the Appraisal report and a link to access the ROV Disclosure letter. For more information on how to access the appraisal report, please refer to the Viewing and Downloading Your Completed Appraisal Report guide.


Content Includes:


Accessing the ROV Disclosure Letter

Upon receiving the Property Document(s) email notification, the ROV Disclosure link can be found towards the bottom of the email. Below is an example of what the Property Document(s) email may look like. Select the ROV Disclosure link to be directed to your lender's ROV disclosure letter. Should an ROV request be warranted after reviewing the appraisal report and the lender's ROV Disclosure letter, select the Click Here link in the Property Document(s) email notification to access the Reconsideration of Value (ROV) request form. 

Filling out the ROV Request Form

Borrowers will be directed to Appraisal FirewallX's Reconsideration of Value (ROV) request form page upon selecting Click Here in the Property Document(s) email. Below is what that request from page will look like. 



The request form has a link to the lender's ROV Disclosure letter, the ability to add borrower researched sales comparables via the Add comparable link, a Comment box where borrowers can provide any contextual information to their lender, and an +Add Attachment/Drag File(s) Here feature to include any supporting documentation for the subject property's value to be reconsidered. 



Add Sales Comparables

To include sales comparables that support borrower claims that a Reconsideration of Value is warranted, select the Add comparable link. 



A new field will appear, with the number of the comparable reflected. Only the property address of another subject is necessary. Multiple comparables can be included via the Add additional comparable link. Each comp will be designated with an appended number, i.e., Comp 1, Comp 2, etc. No more than five sales comparables will be permitted. Use the 'X' icon to remove a sales comparable. 



Add a Comment

A Comment is required for the Submit feature to become available. The comment will be sent to the lender along with the comps provided. Provide any supporting documentation via the +Add Attachment/Drag File(s) Here section to be sent to the lender.



Submit ROV Request

Upon Submit, borrowers will see a message that their ROV request has been sent to the lender and can close the web browser tab at their discretion. 



For questions or concerns surrounding the timeline of the ROV processing, please contact your loan officer or loan processor.