JML Appraisal Services Appraisal Reviews

As said in an announcement by the Federal Reserve, "financial institutions must have effective, impartial real estate appraisal and evaluation plans," and that appraisers doing reviews ought to "have the ability and skillfulness to determine compliance with the Federal Reserves appraisal regulations and guidelines." If you're looking for appraisal review services that are unbiased, qualified, professional and square with the Federal Reserve's regulations, just contact JML Appraisal Services.

Appraisal reviews "ought to verify whether the appraisal or evaluation is appropriate for the transaction, the risk of the transaction, and whether the methods by which the collateral valuation is acquired guarantees independence and quality," the Federal Reserve says. Moreover, they "should announce whether the appraisal or evaluation report matches the engagement letter, which sets forth the range of the appraisal assignment." The Federal Reserve also says that "some institutions add routine reviews with post-funding evaluations of appraisal quality for some of their higher-risk or high-value affairs as a means to aid in addressing valuation complications."

In addition to coordinating our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we'll prepare 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 JML Appraisal Services, we're trained in all types of appraisal reviews, review processes and the responsibilities of review appraisers.