Reconsideration of Value
ROV
Question
What is a “reconsideration of value” (ROV) and who can request one?
Answer
Any consideration, or reconsideration of value is a request for an appraisal. Any lender or authorized employee or agent of a lender may request a reconsideration. A borrower may request that the lender reconsider the value conclusion but the borrower is not allowed to communicate the request for a different value directly to the appraiser.
Federal law prohibits housing discrimination based on your race, color, national origin, religion, sex, family status, or disability. If you have been trying to buy or rent a home or apartment and you believe your rights have been violated, you can file a fair housing complaint.
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Remove Barriers of Entry
ButtonBarriers of entry is an economic and business term describing factors that can prevent or impede newcomers in a market or industry sector and limit competition. These can include finding a supervisory appraiser, low starting pays, and other obstacles. That prevents minorities and women from entering the field and creating generational wealth for themselves and their families. We have found some solutions to this issue.
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UCAP is connected with several national organization including;
- Nation Community Reinvestment Coalition (NCRC)
- Greater Cincinnati Community Reinvestment Coalition (GCCRC)
- The Appraisal Foundation
- National Housing Alliance (NFHA)
- National Appraisal Bias Taskforce (NABT)
- National Association for the Advancement of Colored People (NAACP)
- Housing Opportunities Made Equal (HOME)
- The Urban Coalition of Appraisal Professionals was added to The Appraisal Foundation Advisory Council (TAFAC)
