JW -Appraisal Appraisal Reviews

As said in a statement by the Federal Reserve, "financial institutions must have an effective, impartial real estate appraisal and evaluation plan," and that appraisers completing reviews are obligated to "have the proficiency and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." JW -Appraisal provides appraisal review services that are unbiased, efficient, professional and square with the Federal Reserve's rules.

According to the Federal Reserve, appraisal reviews "ought to figure out whether the appraisal or evaluation is well-suited for the transaction, the danger of the transaction, and whether the actions by which the collateral valuation is attained guarantees independence and quality." They "should also indicate whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the extent of the appraisal assignment." The Federal Reserve also states that "some banks add typical reviews with post-funding assessments of appraisal quality for a number of their high-liability or large-value transactions as a control to assist in detecting valuation problems."

In addition to adapting our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we'll 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. At JW -Appraisal, we're trained in all types of appraisal reviews, review practices and the obligations of review appraisers.