Fannie Mae Borrower ROV: Prepare Appraisal Evidence

First ask your lender whether Fannie Mae’s borrower-initiated reconsideration of value (ROV) rules apply to your loan.

This guide excludes Freddie Mac, FHA, VA, USDA, portfolio and commercial loans, tax assessments and post-closing disputes. It is educational preparation, not an appraisal or personalized lending advice.

Check the route before using it

Under Fannie Mae’s rules, the lender provides ROV instructions with the appraisal. One borrower ROV is permitted per appraisal, before closing. Identify the borrower, property, appraisal effective date, appraiser and request date. Explain defects and supporting sources; justify any proposed comparables, with five properties maximum. The lender checks completeness and sets response expectations.

Use your lender’s form; Fannie Mae does not prescribe one.

Ask whether a small factual correction needs an ROV.

An evidence-sorting exercise

Fictional teaching examples only. These are preparation notes for your lender’s form, not an official form or a valuation.

Factual mismatch: the report says “no garage,” but its photograph shows a detached structure. Record the report location, dated evidence, limitations and a neutral question: “What is this structure, and how was it treated?”

The photograph alone does not establish permitted use, size, completed condition or contributory value. Leave those questions open rather than labeling the structure a qualifying garage.

Candidate comparable: someone says a nearby home sold for more. Verify the data source, transaction status and date. Compare known features and competing market; mark unknown condition or concessions as unknown. A listing is not a closed sale, though listings can inform analysis. Nearest or newest is not automatically best. The appraiser evaluates relevance and differences; a price gap is not an adjustment formula.

Unsupported disagreement: “I need a higher value to borrow enough” supplies no factual error. Request an explanation or correction through your lender without a target value, pressure or incentives. Do not manufacture evidence to fit the financing need.

Keep the record usable

Keep the original report and a copy of what you submit. Name files clearly, retain dates and separate verified facts from unanswered questions. Check purchase-contract and rate-lock deadlines separately; do not assume this request pauses them.

Ask how receipt and completeness will be confirmed.

The September 2026 UAD 3.6 supplement retains these restrictions; revised-report commentary appears in Revision History. Report layouts differ.

Read the answer, not just the number

Separate receipt, appraiser review and lender acceptance. A corrected fact may leave value unchanged; the lender decides whether the conclusions are acceptable. Borrower ROV does not replace underwriting review or guarantee a higher value. Do not buy another appraisal assuming your lender must accept it.

If a funding gap remains, keep that financing or contract discussion separate. A useful result here is a documented explanation of the disputed point, even when it does not solve the funding problem.