James Valdez Appraisal Service Appraisal Reviews

According to an announcement by the Federal Reserve, "financial institutions are required to have an effective, independent real estate appraisal and evaluation program," and that appraisers completing reviews are obligated to "have the knowledge and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Here at James Valdez Appraisal Service, we provide appraisal review services that are impartial, expert, professional and square with the Federal Reserve's guidelines.

As stated by the Federal Reserve, appraisal reviews "should find out whether the appraisal or evaluation is applicable for the transaction, the danger of the transaction, and whether the actions by which the collateral valuation is collected ensures independence and quality." In addition, they "should announce whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the outlook of the appraisal assignment." The Federal Reserve also says that "some banks augment regular reviews with post-funding surveys of appraisal quality for a number of their high-liability or high-value transactions as a control to help in revealing valuation concerns."

In addition to conforming 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 can prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at James Valdez Appraisal Service, we are qualified in all kinds of appraisal reviews, review procedures and the obligations of review appraisers.