Appraisal Reviews by MVP Appraisal Group

As said in a statement by the Federal Reserve, "financial institutions must have effective, unbiased real estate appraisal and evaluation programs," and that appraisers doing reviews ought to "have the ability and skills to assess compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are independent, qualified, professional and in accordance with the Federal Reserve's regulations, contact MVP Appraisal Group.

Appraisal reviews "must find out whether the appraisal or evaluation is relevant for the transaction, the risk of the transaction, and whether the method by which the collateral valuation is acquired ensures independence and quality," according to the Federal Reserve. They "should also announce whether the appraisal or evaluation report matches the engagement letter, which describes the extent of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions add regular reviews with post-funding surveys of appraisal quality for any of their higher-liability or high-value dealings as a method to assist in revealing valuation complications."

In addition to adjusting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we'll develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At MVP Appraisal Group, we are skilled in all types of appraisal reviews, review procedures and the responsibilities of review appraisers.