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Request for Reconsideration of Value (ROV)

What is a Reconsideration of Value?

A Reconsideration of Value is a request made by a consumer for the appraiser to reevaluate the initial appraisal using additional information provided by the consumer.

Reasons a Reconsideration Value may be warranted:
  1. If inaccurate and/or missing, material information pertaining to the subject property is not properly reflected in the valuation report.
  2. If you have concerns that an unacceptable appraisal practice has occurred.
  3. If you believe that the appraisal reflects discriminatory practices.
Important Information for Completing this Form:
  1. Once the Request for Reconsideration of Value is received Envoy has 2 business days to respond to the consumer's request for additional information. If no additional information is needed Envoy will submit the request to the Appraiser within the allotted 2 business days. The Appraiser will have 5 business days to respond to the request. Their response should include commentary to explain their conclusion.
  2. Active listings cannot be submitted.
  3. Communicating a predetermined value is prohibited.
  4. Opinions or comments from the real estate agent or the seller will not be submitted to the appraiser.
  5. Information found on this form to be non-compliant or invalid will result in request denial for submission to the appraiser.
  6. No ROV will be considered after the loan has closed.
Appraisal Independence Requirements and Interagency Guidelines prohibit any act or practice that impairs or attempts to impair an appraiser's independence, objectivity, or impartiality or violates law or regulation in the development and reporting of the appraisal value. Envoy Appraisal Policy specifies methods of communication to the appraiser that ensure independence in the property valuation function. Employees authorized to communicate to the appraiser include: the Underwriter, Envoy's Appraisal Team or Risk Management. The borrower should not contact the appraiser directly.
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Reason for the reconsideration of value:(Required)

You may provide information regarding closed sales if comparable to the subject property, dates of sales are in a similar timeframe and within reasonable proximity to subject. Additional closed sales comparables to be considered should be added in Comments Box below.

To ensure that appraisals are based on the appraiser’s independent professional judgment, free of any influence or pressure that may be exerted by parties that have an interest in the transaction only the following information will be submitted to the appraiser for consideration. Please see the additional information below for completing this form.

Comperables for Consideration(Required)
Street Address
Zip Code
Source
MLS Number
Sales Date
 
You may add up to 5 different properties.
Comments Box:

If inaccurate and/or missing, material information pertaining to the subject property is not properly reflected in the valuation report, please describe in the comments box below.

If you have concerns that an unacceptable appraisal practice has occurred, please describe such practice fully in the comments box below.

If you believe that the appraisal reflects discriminatory practices, please describe such discriminatory practices in detail in the comments box below.

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