Appraisal Recertification of Value

Appraisal Reconsideration of Value

An Appraisal Reconsideration of Value (ROV) is a request made by a consumer for the appraiser to reevaluate the analysis and conclusions of the initial appraisal using additional information provided by the consumer that the consumer believes to be relevant to the appraiser’s value determination. GuardHill requires the consumer to complete a Reconsideration of Value Request Form which includes the information, data, or comparables that the consumer believes will impact the value conclusion. In all instances, if you believe your appraisal is deficient, we strongly encourage you to submit an ROV Form to appraisals@guardhill.com to help us ensure that your appraisal report accurately reflects the value of the property. If you are having trouble downloading the ROV Form, please contact your loan officer and an ROV Form will be provided to you.

How the ROV Process Works

• • You may use the Form to indicate the purpose of the ROV:
    • • To correct factual errors in the report. 
    • • To request consideration of what you believe to be better comparable sales and/or 
    • • To report concerns of bias or discrimination in the appraisal process.

• • Simply requesting a Form does not constitute an ROV request, it must be completed and returned for GuardHill (appraisals@guardhill.com) to act.

• • The Form will be reviewed by GuardHill’s Appraisal Desk to ensure it is completed correctly, provides sufficient information for the appraiser to consider, and does not violate Appraiser Independence Requirements.

• • Provided that the Form is acceptable, GuardHill’s Appraisal Desk will submit the ROV request to the appraiser.

• • The appraiser will consider each element of the request and may agree or disagree that an adjustment or correction to the report is appropriate. The appraiser is an independent valuation professional who will determine if the appraisal report warrants a change and cannot be directed by you or GuardHill in accordance with Appraisal Independence Requirements.

• • The GuardHill Appraisal Desk will communicate the outcome of the ROV to you. Your loan officer will provide you with a copy of the revised appraisal report if applicable.

Appraiser Independence Requirements

The Appraiser Independence Requirements prohibit anyone from influencing or trying to influence an appraiser’s value conclusion through coercion, collusion, compensation, or intimidation. To avoid any appearance of influence please:

• • Do not give your value conclusion or mention the final market value or range of values you desire.

• • Please do not provide a prior appraisal report; however, you may include comparables from that report should they still be timely.

• • Please be respectful in providing your narrative about your concerns with the appraisal.

• • We may ask you to resubmit the ROV Request Form if these guidelines are not followed.