Appraisal Reviews

As stated in an announcement by the Federal Reserve, "financial institutions must have effective, objective real estate appraisal and evaluation programs," and that appraisers completing reviews should "have the familiarity and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." Floyd Appraisal Works Inc provides appraisal review services that are objective, expert, professional and in accordance with the Federal Reserve's regulations.

The Federal Reserve says appraisal reviews "should find out whether the appraisal or evaluation is fitting for the transaction, the liability of the transaction, and whether the manner by which the collateral valuation is acquired ensures independence and quality." In addition, they "must denote whether the appraisal or evaluation report is consistent with the engagement letter, which sets forth the capacity of the appraisal assignment." Lastly, the Federal Reserve states that "some institutions supplement routine reviews with post-funding evaluations of appraisal quality for a few of their higher-liability or greater-value contracts as a way to aid in exposing valuation concerns."

In addition to conforming our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we will formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Floyd Appraisal Works Inc, we're experienced in all forms of appraisal reviews, review practices and the responsibilities of review appraisers.