Streamline the Reconsideration of Value (ROV) Process
ValidateROV is an automated, cost-effective solution that streamlines the ROV process and reduces manual steps and paperwork. The solution guides the borrower through the ROV process via an intuitive mobile app, then leverages intelligent computer vision capabilities and a condition-adjusted AVM to provide lenders with an objective estimated price range for the property.
GET STARTEDWhy use ValidateROV?
Improve customer satisfaction with a quick, transparent ROV process while saving time and money by eliminating the need for a second appraisal
Fast, efficient, objective
ValidateROV delivers a fast, efficient way for lenders and borrowers to engage in the ROV process. The lender simply provides a link to the borrower that includes a series of prompts for the borrower to follow.
The prompts guide the borrower to confirm property features, enter their opinion of the property’s value, provide addresses of comparables if available, indicate any damage, and rate property condition and quality. Additionally, the borrower can enter any amenities or views that may impact the property’s value.
Borrowers are also asked to take several interior and exterior property photos. To help ensure the photos accurately reflect current property condition and location, they must be taken directly in the app and are confirmed via GPS verification.
After the required steps are completed, the borrower e-certifies the information is accurate. ValidateROV then applies computer vision technology and a condition-adjusted AVM to determine property condition and quality and deliver an objective value.
ValidateROV provides a same-day report to the lender that includes a comparison of the estimated property values from the following: the appraisal, the borrower and the ValidateROV result.
What is an ROV?
An ROV is a request from a lender to the appraiser, AMC, or other preparer of the valuation report to reconsider the analysis and conclusions in a residential-property appraisal. It is typically initiated by the borrower who asks the lender or loan officer for an ROV.
ValidateROV allows lenders to provide their borrowers with an easy, intuitive way to explain why they believe their appraisal is not accurate.