Lenders have the capacity to request Reconsideration of Values (ROVs) or Disputes upon reviewing the appraisal report as provided by the appraiser. When the ROV/Dispute is initiated by the lender, appraisers will receive an Appraisal ROV email notification, which will contain any comp addresses the lender has provided, plus any message/document(s) the lender may pass along to the appraiser too. Please note: if any documents are supplied by the lender, those documents will need to be accessed through Appraisal FirewallX directly, as they will not be included in the Appraisal ROV email. Below is an example of what the Appraisal ROV email template may look like.
To quickly review the order, you can access the HERE link at the bottom of the email.
If review of the lender provided comps, documentation, etc., does not warrant an updated appraised value, select the ROV/Dispute Response feature on the right.
A Revision Response screen will be displayed, with Use Existing as the default option. NOTE: Use Existing means the most recent appraisal report delivery has the appropriate appraised value in place. Upload Revised means the appraiser can deliver a new/revised appraisal report.
Within the Revision Response screen, the Message section is required. This is typically used for the appraiser to state why using the existing report/appraised value is the proper course of action.
Once the Message has been supplied, select Send to submit the information back to the lender. Choosing Cancel will direct the appraiser to the Communications Log.
