Reconsideration of Value

This disclosure will outline the steps needed to request a reconsideration of value (“ROV”) from your lender.

A ROV can be requested if it is found the appraiser’s opinion is unsupported, there are unacceptable appraisal practices, or the appraisal reflects discriminatory practices. These are the only reasons a ROV may be requested.

If you want to request a ROV, contact your lender and advised them of your request. When making the request, you will need to advise the lender why you are requesting a ROV and support the request with facts and/or data. If you do not provide any facts or data with your request, your request will be discarded. Alternatively, you may fill out the form below and return it to your lender. Do NOT contact the appraiser, we will handle that.

Once the request is sent to the appraiser, they should respond within 5 business days. The response should include commentary to explain their conclusion to the ROV request. No ROV will be considered after the loan has closed.

Today's Date (required):

Borrower's Name (required):

Borrower's Email Address (required):

Address of Appraisal: Please include street, city, and zip code. (required):

Appraiser Name: (required):

Lender Name: (required):

Reason for reconsideration of value: (required):
Appraiser’s opinion is unsupported.There is unacceptable appraisal practice(s).Appraisal reflects discriminatory practices.

Support for reason (if no support is given, this request will be disregarded) (required):

When submitting this form will send a PDF of the information you supply to First Neighbor Bank. An email will also be sent to the email address provided on question 3 of this form.