HUD and GSEs Announce Changes to 

Reconsideration of Value (ROV) Process

Join Appraisal FirewallX for a Webinar to Discuss the Upcoming Enhancements!


On May 1, 2024, HUD announced a new borrower-initiated Reconsideration of Value (ROV) process to go into effect early September 2024. Please refer to HUD’s May 2024 Mortgagee Letter, found HERE, for the full announcement. This upcoming change was a collaborative effort between HUD, FHFA, Fannie Mae, and Freddie Mac to promote fairness and transparency during the appraisal analysis performed by an appraiser. Through this updated process, borrowers will gain the ability to appeal the appraised value if they feel the value is unsupported by the appraisal data returned or if any bias/discriminatory practices may be present within the appraisal report itself.

Appraisal FirewallX will be hosting an Open Forum Webinar to discuss the best practice to implement these requirements. We encourage you to invite your clients to this forum to bring your questions, share any insights, and provide feedback regarding this upcoming procedural change. During the forum we will be highlighting the following:

  • Adding the required borrower disclosure to Appraisal FirewallX
  • Ability for borrowers to request ROVs
  • Lender responsibilities with upcoming changes
  • And more!

Keep a lookout for our webinar invitation coming soon!