Checklists / 22 items
Reconsideration of value request
For a lender, underwriter or appraiser preparing or reviewing a borrower-initiated reconsideration of value, under the program rules that apply today. The new federal law requires FHFA, FHA, VA and USDA to set a procedure; none of the four has written its rule yet, so this checklist covers only the rules in force now.
Drawn from Uniform ROV standards and the 2026 housing law. Research checked October 12, 2026.
Confirm which program applies
- Identify whether the loan is sold to Fannie Mae, sold to Freddie Mac, insured by FHA, guaranteed by VA, or a USDA or HUD Section 184 loan: each has its own rule.
- Confirm the loan is a federally backed mortgage loan secured by the borrower’s principal dwelling before applying any of the program rules below.CARES Act Section 4022 definition
- Note that FHFA, FHA, VA and USDA have not yet issued rules implementing Section 704(a); the statute sets no deadline.Public Law 119-101, enacted July 11, 2026
Also in the full checklist:
- Request intake (5 items)
- Appraiser response (4 items)
- Program limits today (6 items)
- Separate conduct concerns and track outcomes (4 items)