Appraisal Reviews with JW -Appraisal

As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, impartial real estate appraisal and evaluation programs," and that appraisers fulfilling reviews are obligated to "have the familiarity and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." At JW -Appraisal, we provide appraisal review services that are impartial, expert, professional and in accordance with the Federal Reserve's rules.

Appraisal reviews "ought to verify whether the appraisal or evaluation is applicable for the transaction, the liability of the transaction, and whether the procedures by which the collateral valuation is accomplished guarantees independence and quality," according to the Federal Reserve. They "should also demonstrate whether the appraisal or evaluation report is compatible with the engagement letter, which sets forth the capacity of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions reinforce typical reviews with post-funding surveys of appraisal quality for a number of their high-risk or large-value affairs as a control to help in uncovering valuation dilemmas."

In addition to adapting our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we will prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At JW -Appraisal, we are qualified in all kinds of appraisal reviews, review procedures and the obligations of review appraisers.