Appraisal Reviews

As said in a statement by the Federal Reserve, "financial institutions are required to have an effective, objective real estate appraisal and evaluation plan," and that appraisers doing reviews have to "have the ability and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." Here at Floyd Appraisal Works Inc, we provide appraisal review services that are independent, qualified, professional and square with the Federal Reserve's regulations.

Appraisal reviews "should determine whether the appraisal or evaluation is fitting for the transaction, the danger of the transaction, and whether the process by which the collateral valuation is attained guarantees independence and quality," the Federal Reserve says. In addition, they "should denote whether the appraisal or evaluation report is consistent with the letter of engagement, which sets forth the scope of the appraisal assignment." Lastly, the Federal Reserve says that "some banks supplement routine reviews with post-funding evaluations of appraisal quality for a few of their higher-risk or high-value transactions as a means to aid in revealing valuation dilemmas."

In addition to coordinating our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are typically used for review services, and we can produce 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 Floyd Appraisal Works Inc, we are qualified in every type of appraisal review, review practice and the requirements of review appraisers.