Appraisal Reviews

As stated in an announcement by the Federal Reserve, "financial institutions must have effective, impartial real estate appraisal and evaluation plans," and that appraisers completing reviews ought to "have the proficiency and skillfulness to determine compliance with the Federal Reserves appraisal regulations and guidelines." MJ Valuations provides appraisal review services that are impartial, qualified, professional and in accordance with the Federal Reserve's regulations.

As stated by the Federal Reserve, appraisal reviews "must conclude whether the appraisal or evaluation is appropriate for the transaction, the liability of the transaction, and whether the methods by which the collateral valuation is collected guarantees independence and quality." In addition, they "must show whether the appraisal or evaluation report is even with the engagement letter, which gives an account of the range of the appraisal assignment." Lastly, the Federal Reserve says that "some banks supplement regular reviews with post-funding evaluations of appraisal quality for some of their high-risk or higher-value dealings as a channel to aid in exposing valuation issues."

In addition to tailoring 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 can produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At MJ Valuations, we're skilled in all forms of appraisal reviews, review practices and the requirements of review appraisers.