Appraisal Reviews

According to a statement by the Federal Reserve, "financial institutions are obligated to have effective, objective real estate appraisal and evaluation plans," and that appraisers fulfilling reviews have to "have the knowledge and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." At Jax Appraisal, LLC. , we provide appraisal review services that are impartial, expert, professional and compliant with the Federal Reserve's regulations.

Appraisal reviews "should determine whether the appraisal or evaluation is well-suited for the transaction, the liability of the transaction, and whether the procedures by which the collateral valuation is accomplished guarantees independence and quality," the Federal Reserve says. Moreover, they "must show 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 financial institutions reinforce routine reviews with post-funding evaluations of appraisal quality for a few of their high-liability or high-value affairs as a control to assist in addressing valuation issues."

In addition to conforming our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we will 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. Here at Jax Appraisal, LLC. , we're trained in all kinds of appraisal reviews, review procedures and the requirements of review appraisers.