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What "Reconsideration of Value" Actually Means
A Reconsideration of Value (or ROV) is when someone asks an appraiser to take another look at what they said a property is worth—either because there may be mistakes in how the appraisal was done, the wrong comparison properties were picked, or new information has come to light that matters to the value. The borrower can request this themselves, or an underwriter reviewing the loan can ask the appraiser to reconsider based on additional facts or market data they've found. When an ROV happens, the appraiser has to go through all the new information provided, think through it carefully, and write up their analysis of what they found—whether that ends up changing the original value estimate or confirming it was correct.
Straight from UAD 3.6/URAR, HUD/FHA Single Family Handbook 4000.1, FHFA Reconsideration of Value Guidance, VA Lenders Handbook, and Fannie Mae Selling Guide — nothing added.
A Reconsideration of Value (or ROV) is when someone asks an appraiser to take another look at what they said a property is worth—either because there may be mistakes in how the appraisal was done, the wrong comparison properties were picked, or new information has come to light that matters to the value. The borrower can request this themselves, or an underwriter reviewing the loan can ask the appraiser to reconsider based on additional facts or market data they've found. When an ROV happens, the appraiser has to go through all the new information provided, think through it carefully, and write up their analysis of what they found—whether that ends up changing the original value estimate or confirming it was correct.
Straight from UAD 3.6/URAR, HUD/FHA Single Family Handbook 4000.1, FHFA Reconsideration of Value Guidance, VA Lenders Handbook, and Fannie Mae Selling Guide — nothing added.
Read the actual documents:
→ Mortgagee Letter 2024-07: Appraisal Review and Reconsideration of Value Updates (official agency copy)
→ FHFA Announces Enterprise Reconsideration of Value Policies (2024-05-01) (official agency copy)
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© Copyright Notice: © Fannie Mae. UAD 3.6 / URAR reference materials shown for research and reference only. Full documents available at fanniemae.com/uad. Reproduction restricted per Fannie Mae copyright policy.
© Copyright Notice: © 2026 Fannie Mae. Excerpts shown for research and reference only. Full document available at selling-guide.fanniemae.com. Reproduction restricted to Fannie Mae-approved lenders.
Relevant News
Recent public coverage related to this topic — cited, not reproduced
GSEs Revise Appraisal Reconsideration of Value Requirements
Fannie Mae and Freddie Mac revised ROV requirements effective September 3, 2025, eliminating dual disclosure and streamlining documentation retention for ROV outcomes.
Read full story at Weiner Brodsky Kider PC →
FHA and FHFA Release New Appraisal Reconsideration Policies
FHA and FHFA announced policies enabling borrowers to request re-appraisal if they believe bias or deficiencies were involved, with lender disclosure and underwriter training requirements.
Read full story at ABA Banking Journal →
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was a Borrower-Initiated ROV, and the Reconsideration of Value subsection is included in the URAR) • No (There has not been a Borrower-Initiated ROV, and the Reconsideration of…
UAD 3.6 / URAR (FNMA) · Appendix F-1 URAR Reference Guide v1.3.pdf · Page 337
· View at official source (fanniemae.com/uad) →
was a Borrower-Initiated ROV, and the Reconsideration of Value subsection is included in the URAR) • No (There has not been a Borrower-Initiated ROV, and the Reconsideration of Value subsection is not included in the URAR) Reconsideration of Value Report Field ID Report Label When to Include Allowable Answers / Format Definition / Additional Guidance 27.003 Type Required if Reconsideration of Value Indicator is Yes Borrower-Initiated Reconsideration of Value Type 27.004 Date Required if Reconsideration of Value Indicator is Yes mm/dd/yyyy Reconsideration of Value Result Date The date the appraiser completed the ROV. Note: When an ROV occurs, the Date of Signature and Report (29.066) must be updated to reflect the date of the changes. 27.005 Result Required if Reconsideration
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defined in the Mortgagee’s Quality Control (QC) Plan. Appraiser and Property Requirements for Title II Forward and Reverse Mortgages General Appraiser Requirements (II.D.2) e.…
HUD/FHA Single Family Handbook 4000.1 · Mortgagee_Letter_2024-07_Appraisal_Review_and_Reconsideration_of_Value_Updates.pdf · Page 9
· View at official source (HUD.gov — SFH Handbook 4000.1) →
· Last verified: 2026-09-30
defined in the Mortgagee’s Quality Control (QC) Plan. Appraiser and Property Requirements for Title II Forward and Reverse Mortgages General Appraiser Requirements (II.D.2) e. Underwriter Requests for a Reconsideration of Value In the event the underwriter requests a Reconsideration of Value (ROV) and provides additional information material to the value of the Property, the Appraiser must: • review all information and market data received from the underwriter; and • summarize the analysis of all information provided by the underwriter within a revised version of the appraisal report regardless of whether the Appraiser determines that changes are not needed to address the issues identified in the ROV. Paperwork Reduction Act The information collection requirements contained in this document have been approved
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SOURCE: Federal Housing Finance Agency (FHFA) — News Release "FHFA Announces Enterprise Reconsideration of Value Policies" Published: May 1, 2024 URL:…
Reconsideration of Value (ROV) Guidance · FHFA_Enterprise_ROV_Policy_Announcement_2024.txt · Page 1
· View at official source (FHFA — Reconsideration of Value) →
SOURCE: Federal Housing Finance Agency (FHFA) — News Release "FHFA Announces Enterprise Reconsideration of Value Policies" Published: May 1, 2024 URL: https://www.fhfa.gov/news/news-release/fhfa-announces-enterprise-reconsideration-of-value-policies ===================================================================== FHFA Announces Enterprise Reconsideration of Value Policies Washington, D.C. — The Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) published new Reconsideration of Value (ROV) policies after months of collaboration with FHFA and the U.S. Department of Housing and Urban Development's (HUD) Federal Housing Administration. A Reconsideration of Value is a request to an appraiser to re-assess the appraised value of a property due to potential appraisal reporting deficiencies or inappropriate selection of comparable properties, or based upon additional information the appraiser should consider. "Consistent standards for lenders and appraisers, coupled