Appraisal Reviews

As said in a statement by the Federal Reserve, "financial institutions must have an effective, impartial real estate appraisal and evaluation program," and that appraisers performing reviews should "have the proficiency and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." If you need appraisal review services that are objective, efficient, professional and in line with the Federal Reserve's guidelines, just contact JM Hall Appraisals.

Appraisal reviews "have to figure out whether the appraisal or evaluation is fitting for the transaction, the risk of the transaction, and whether the process by which the collateral valuation is accomplished ensures independence and quality," as stated by the Federal Reserve. In addition, they "should denote whether the appraisal or evaluation report is true to the engagement letter, which gives an account of the capacity of the appraisal assignment." Lastly, the Federal Reserve states that "some financial institutions supplement typical reviews with post-funding assessments of appraisal quality for a number of their higher-liability or greater-value affairs as a means to assist in discovering valuation problems."

In addition to adapting our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we can formulate an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at JM Hall Appraisals, we are qualified in every kind of appraisal review, review procedure and the obligations of review appraisers.