Reconsideration of Value FAQ
If you believe there are factual errors or inaccuracies in an appraisal or an evaluation, you may submit a Reconsideration of Value.
What is a Reconsideration of Value (ROV)?
Appraisals and evaluations are reviewed for accuracy and quality before they are provided to you. Any identified issues are addressed and resolved as part of that process. However, there may be facts that the Bank is not aware of that affect the accuracy or validity of an appraisal.
How do I submit a request for an ROV?
Complete the following form:
Reconsideration of Value Form. You can also request a paper form by mail from your lender. The form must include specific facts
that you believe are not accurate or were not considered in the appraisal or evaluation. Any documentation that supports the facts should be included with the form.
What happens with the request?
Bank staff that are independent of the loan origination process will review your request and any documentation provided with it. If there is a factual basis to amend the evaluation or appraisal, the Bank will request those facts to be considered and the appraisal to be updated. Otherwise, the Bank will determine that the appraisal or evaluation is valid and acceptable as-is. The Bank will notify you of the decision within 15 days of when we receive your completed form.
What if I still disagree with the value?
The value developed by the appraisal or evaluation is for the Bank’s purposes, and must meet the Bank’s guidelines as well as regulatory requirements. The Bank’s determination on the ROV is final.
