VA Lenders Handbook (VA Pamphlet 26-7), Chapter 10, Topic 22 — Reconsideration of Value
VA Lenders Handbook (VA Pamphlet 26-7), Chapter 10, Topic 22 — Reconsideration of Value.
Verbatim regulatory text
Verbatim provisions from VA Lenders Handbook (VA Pamphlet 26-7), Chapter 10, Topic 22 — Reconsideration of Value — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.
VA Lenders Handbook (VA Pamphlet 26-7), Chapter 10, Topic 22 — Reconsideration of Value
22. Reconsideration of Value Change Date March 11, 2019 • This chapter has been revised in its entirety. a. Written Request After the NOV has been issued, the Veteran may request reconsideration of value in writing by contacting the RLC of jurisdiction. If the request is submitted to the RLC through the lender, the SAR is encouraged to research market data and provide a recommendation to the RLC with the Veteran’s request. b. Market Data Providing market data in support of the request, as described in Chapter 10, Topic 8, of this Handbook, is encouraged, but not required. A market data grid is not required. c. Review by VA staff Within 5 business days, VA staff will review the appraisal report, additional submitted data, as well as the market data available through VA’s AMS. In some cases, VA staff may conduct a field review which will be completed within 20 business days. If VA staff determines that an increase in value is appropriate, VA will issue an amended NOV. VA Pamphlet 26-7, Revised Chapter 10: Appraisal Process 10-34