Section 766.115 - Challenging the Agency appraisal(a) A borrower considered for primary loan servicing who does not agree with the Agency's appraisal of the borrower's assets may: (1) Obtain a USPAP compliant technical appraisal review prepared by a State Certified General Appraiser of the Agency's appraisal and provide it to the Agency within 90 days of the request for reconsideration or appeal and prior to reconsideration or the appeal hearing;(2) Obtain an independent appraisal within 90 days of the request for reconsideration or appeal request and completed in accordance with § 761.7 as part of the request or reconsideration or appeals process. The borrower must: (i) Pay for this appraisal;(ii) Choose which appraisal will be used in Agency calculations, if the difference between the two appraisals is five percent or less.(3) Use the second appraisal completed under paragraph (a)(2) of this section to negotiate the Agency's appraisal.(i) If the difference between the two appraisals is five percent or less, the borrower will choose the appraisal to be used in Agency calculations.(ii) If the difference between the two appraisals is greater than five percent, the borrower may request a third appraisal within 30 days from the date the second appraisal is provided to the Agency. The Agency and the borrower will share the cost of the third appraisal equally. The average of the two appraisals closest in value will serve as the final value.(iii) A borrower may request a negotiated appraisal only once in connection with an application for primary loan servicing.(iv) The borrower may not appeal a negotiated appraisal.(b) If the appraised value of the borrower's assets change as a result of the challenge, the Agency will reconsider its previous primary loan servicing decision using the new appraisal value.(c) If the appeal process results in a determination that the borrower is eligible for primary loan servicing, the Agency will use the information utilized to make the appeal decision, unless stated otherwise in the appeal decision letter. 72 FR 63316 , Nov. 8, 2007, as amended at 78 FR 65532 , Nov. 1, 2013