Appraisal Reviews

According to a statement by the Federal Reserve, "financial institutions must have effective, impartial real estate appraisal and evaluation procedures," and that appraisers fulfilling reviews ought to "have the ability and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are impartial, expert, professional and in line with the Federal Reserve's rules, just contact Val Appraisal Services Inc.

Appraisal reviews "ought to determine whether the appraisal or evaluation is appropriate for the transaction, the liability of the transaction, and whether the practices by which the collateral valuation is obtained guarantees independence and quality," the Federal Reserve says. They "must also signify whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the outlook of the appraisal assignment." Last, The Federal Reserve says that "some banks supplement routine reviews with post-funding surveys of appraisal quality for a number of their higher-liability or large-value affairs as a way to help in identifying valuation issues."

In addition to coordinating our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we can prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Val Appraisal Services Inc, we are trained in every form of appraisal review, review practice and the obligations of review appraisers.