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ValuationReview caught up with Clear Capital’s Chief Appraiser John Brenan to discuss the topic of Reconsideration of Value (ROV). Brenan detailed the common reasons ROVs get requested and what appraisers need to know and can expect during this process. Read on for more of our conversation.
The new rule allows 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 and request a reconsideration of value, or ROV.
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