Qualified Appraisal Reviews with JW -Appraisal

According to a statement by the Federal Reserve, "financial institutions are obligated to have an effective, objective real estate appraisal and evaluation plan," and that appraisers performing reviews must "have the ability and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." If you're looking for appraisal review services that are independent, expert, professional and compliant with the Federal Reserve's regulations, look no further than JW -Appraisal.

According to the Federal Reserve, appraisal reviews "must decide whether the appraisal or evaluation is well-suited for the transaction, the danger of the transaction, and whether the process by which the collateral valuation is acquired guarantees independence and quality." In addition, they "should demonstrate whether the appraisal or evaluation report is consistent with the engagement letter, which sets forth the extent of the appraisal assignment." Last, The Federal Reserve states that "some institutions supplement typical reviews with post-funding surveys of appraisal quality for a number of their higher-liability or higher-value contracts as a control to assist in revealing valuation issues."

In addition to tailoring our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we'll develop 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 qualified in all forms of appraisal reviews, review procedures and the obligations of review appraisers.