A Reconsideration of Value (ROV) is a formal request asking an appraiser to re-examine a property’s value after a factual error or missed comparable sale.
Fannie Mae, Freddie Mac, and HUD established standardized borrower-initiated ROV requirements effective for loan applications dated October 31, 2024 or later.
Jhovan F. Rojas, Florida Certified Residential Appraiser (License RD6109, licensed since 2006), prepares independent general value appraisals Florida homeowners can submit alongside an ROV request.
A low Florida appraisal can stall a purchase or refinance — get independent comparable sales evidence from Jhovan Rojas at Home Value Inc. Request a quote.
A Reconsideration of Value request directs the original appraiser to review specific concerns about an existing appraisal report, rather than replacing that appraiser with a new one — a distinction that helps a Florida homeowner choose the right remedy without restarting the loan process.
The federal requirement applies nationwide, covering Florida purchase and refinance transactions financed through Fannie Mae, Freddie Mac, or FHA-backed loans.
The Federal Housing Finance Agency announced the joint Fannie Mae, Freddie Mac, and HUD framework after months of interagency collaboration, establishing clear disclosure requirements for lenders and standardized communication procedures for appraisers.
Florida appraisers who complete these reports must meet the licensing standards set by the Florida Department of Business and Professional Regulation, the state authority governing appraiser credentials statewide.
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A Florida homeowner or buyer should file an ROV request when the appraisal report contains a factual error, omits a relevant comparable sale, or fails to account for a permitted improvement — each of which can pull the reported value below true market value.
Fannie Mae’s Selling Guide requires the lender to complete its own review of the appraisal before initiating the borrower’s ROV, a safeguard that catches obvious deficiencies before the request reaches the appraiser.
In practice, Rojas notes that ROV requests succeed most often when they point to something concrete and checkable — a specific comparable sale the original report omitted, or a permitted square-footage addition the appraiser didn’t credit — rather than a general objection that the number “feels low.” An ROV built on general disagreement rather than a documented, specific deficiency is unlikely to change the outcome, since the appraiser is reviewing evidence, not reconsidering judgment calls.
The firm’s dedicated guide to the reconsideration of value in Florida covers the specific report elements most commonly disputed in South Florida transactions and provides homeowners with a checklist to review before submitting a request.
Recent comparable sales the original appraiser may not have considered carry the most weight in a Florida ROV request, since Fannie Mae’s process centers on correcting specific, documented deficiencies rather than general disagreement with the outcome.
Documentation of permitted improvements, corrected square footage measurements, and evidence of a factual error in the report each support a stronger submission.
A homeowner who assumes an appraisal cannot be challenged at all misunderstands the process — the firm’s breakdown of common appraisal myths addresses this misconception directly, so a Miami homeowner can approach the ROV process with accurate expectations from the start.
The Florida ROV process follows the same federal sequence established by Fannie Mae, Freddie Mac, and FHA: the lender discloses the ROV process at appraisal delivery, reviews the appraisal internally, forwards a qualifying request to the appraiser, and documents the outcome once the appraiser responds, giving a Florida homeowner a defined path to follow rather than an informal appeal.
| Date | Development |
|---|---|
| May 1, 2024 | Fannie Mae, Freddie Mac, and HUD jointly publish borrower-initiated ROV requirements |
| October 31, 2024 | Effective date for Fannie Mae, Freddie Mac, and FHA ROV requirements on new loan applications |
| September 3, 2025 | Fannie Mae Selling Guide Announcement SEL-2025-07 narrows the ROV disclosure requirement to appraisal delivery only |
Home Value Inc.’s overview of the appraisal process in South Florida covers how the standard inspection and comparable sales analysis feed into the report that Florida ROV ultimately disputes.
Fannie Mae’s ROV window is narrow and evidence-dependent — schedule a comparable sales review with Jhovan Rojas at Home Value Inc. before the closing deadline.
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A lender who denies an ROV request remains responsible for supporting the appraisal report and value opinion with reliable, adequate documentation, per Fannie Mae’s Selling Guide section B4-1.3-12 — a safeguard that gives a Florida homeowner a baseline of accountability even when the ROV itself is denied.
A denied ROV does not end a Florida homeowner’s options. An ROV is also the wrong tool in some situations: it cannot resolve a genuine disagreement about market conditions or the suitability of a comparable sale that the original appraiser already considered and rejected — that kind of dispute calls for an independent second appraisal instead, not a second look at the same file.
The homeowner can still commission an independent second appraisal outside the lender’s process, order a fresh comparable sales analysis, or wait for the next transaction if the timeline allows renegotiation with the seller.
An ROV and an independent second appraisal solve the same problem through different mechanisms, and understanding the distinction helps a Florida homeowner choose between the faster and more thorough paths depending on the transaction timeline.
| Feature | Reconsideration of Value (ROV) | Independent Second Appraisal |
|---|---|---|
| Appraiser | Same appraiser who completed the original report | A different, separately engaged appraiser |
| Cost to borrower | No separate fee required under Fannie Mae’s Selling Guide | Paid directly to the appraiser |
| Requests per report | One per appraisal report (Fannie Mae limit) | Not limited by the ROV rule |
| Governing framework | Fannie Mae, Freddie Mac, and HUD ROV requirements | Independent engagement outside the ROV process |
The firm’s analysis of online appraisal accuracy explains why an independent, certified second opinion carries more weight than an automated estimate when a Florida homeowner disputes a low value.
Preparation strengthens both an ROV request and an independent second appraisal, since documented evidence carries more weight than a general objection to the reported value.
A Florida homeowner benefits from compiling recent comparable sales, permit records for any improvements, and photographs supporting the property’s condition before requesting a review.
Home Value Inc.’s pre-appraisal checklist organizes these documents by category, providing homeowners with a starting point before the request is sent to the lender or appraiser.
A low Florida appraisal doesn’t have to be the final word — request an independent comparable sales analysis from Home Value Inc. today. Order an appraisal.
What is a Reconsideration of Value (ROV)?
A Reconsideration of Value directs the original appraiser to re-examine a specific value opinion based on a factual error or missed comparable sale. Fannie Mae and Freddie Mac established borrower-initiated ROV requirements for loans dated October 31, 2024 or later.
How long does a Florida ROV request take to resolve?
Fannie Mae’s Selling Guide does not set a fixed resolution deadline for a Reconsideration of Value request. The lender completes its own appraisal review before initiating the ROV. The appraiser then reassesses the report based on the submitted evidence, with resolution time varying by case.
Can a borrower request more than one ROV per appraisal?
No. Fannie Mae’s Selling Guide limits a borrower to one Reconsideration of Value request per appraisal report. A second request on the same report does not qualify under current federal requirements, though a borrower can still pursue an independent second appraisal outside the ROV process.
Does filing an ROV replace the need for a new appraisal?
No. A Reconsideration of Value asks the original appraiser to review specific concerns about the existing report. An independent second appraisal, by contrast, assigns a different appraiser to produce a separate value opinion, which a Florida homeowner can commission privately outside the lender’s process.
What evidence strengthens a Florida ROV request?
Recent comparable sales the appraiser may not have considered, documentation of permitted improvements, and evidence of a factual error in the report all strengthen a Florida Reconsideration of Value request. Fannie Mae’s guidelines require the lender to review this evidence before forwarding the request.
Does a Reconsideration of Value apply to FHA loans in Florida?
Yes. The Federal Housing Administration applies Reconsideration of Value requirements to FHA-insured transactions with a case number assigned on or after October 31, 2024. Florida FHA borrowers follow this same federal timeline alongside Fannie Mae and Freddie Mac conventional loan borrowers.
What happens if the lender denies an ROV request?
A lender who denies a Reconsideration of Value request remains responsible for supporting the appraisal report and value opinion with reliable, adequate documentation, per Fannie Mae’s Selling Guide. A Florida homeowner can still commission an independent second appraisal to support further negotiation.
Does Home Value Inc. provide independent appraisals to support an ROV?
Yes. Home Value Inc. prepares independent general value appraisals that document comparable sales and property-specific evidence a Florida homeowner can submit alongside a Reconsideration of Value request. Jhovan Rojas personally conducts each appraisal assignment and prepares the accompanying documentation reviewed during the process.
Is there a fee to file a Reconsideration of Value request?
Fannie Mae’s Selling Guide does not require a borrower to pay a separate fee for filing a Reconsideration of Value request through the lender. An independent second appraisal commissioned outside the ROV process carries its own separate fee paid directly to the appraiser.
About the Author
South Florida Residential Appraiser · Expert Witness · Residential Valuation Specialist
Jhovan Rojas is a South Florida residential real estate appraiser with more than 20 years of experience valuing residential properties throughout Miami-Dade, Broward, and Palm Beach Counties. His appraisal experience spans multiple real estate market cycles, including the foreclosure-driven downturn of the late 2000s, the subsequent recovery period, and the rapid appreciation that followed the COVID-19 housing boom.
Throughout his career, Jhovan has appraised thousands of residential properties, including single-family homes, condominiums, multi-family residences, luxury estates, waterfront properties with boating access, and complex high-value residential assets. His expertise includes residential valuation, appraisal review, market analysis, lender compliance review, and expert witness services for litigation involving real estate valuation disputes.
In addition to performing residential appraisals, Jhovan has conducted appraisal reviews for lending institutions, supervised and mentored trainee appraisers, and provided expert testimony in divorce and property-related legal matters. He is also a frequent speaker for Realtor and broker education programs, where he shares insights on valuation methodology, appraisal standards, market trends, and factors influencing residential property values throughout South Florida.
Drawing on decades of hands-on appraisal experience, Jhovan helps homeowners, attorneys, lenders, real estate professionals, and property investors make informed decisions based on credible, well-supported valuation analysis.
Home Value Inc. performs residential and commercial appraisals for its clients in greater Miami-Dade County and the following cities in South Florida. We provide services to the following cities -
