Federal agencies propose reconsideration of value guidance


NCUA, the Consumer Financial Protection Bureau (CFPB) and three other federal regulatory agencies Thursday requested public comment on proposed guidance addressing reconsiderations of value (ROV) for residential real estate transactions.

The proposed guidance advises on policies that financial institutions may implement to “allow consumers to provide financial institutions with information that may not have been considered during an appraisal or if deficiencies are identified in the original appraisal.”

ROVs are requests from a financial institution to an appraiser or preparer of a valuation report to reassess the value of residential real estate. An ROV may be warranted if a consumer provides information to a financial institution about potential deficiencies or other information that may affect the estimated value.

The proposed guidance:


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