CNDC-010 New Reconsideration of Value
NOTICE TO ALL CORRESPONDENTS AND NON-DELEGATED CORRESPONDENTS:
Borrower Initiated Reconsideration of Value Reminder
FLCBank would like to remind all Correspondent Customers of the upcoming dates for lenders to implement the new requirements related to Appraisal Review and Reconsideration of Value (ROV) policy and guidelines.
Fannie Mae, Freddie Mac, and Federal Housing Administration (FHA) published new Reconsideration of Value (ROV) policies effective with new applications (Fannie Mae and Freddie Mac) or FHA case number assignments on or after October 31, 2024.