Appraisal Reviews with Village Appraisal Ltd.

According to an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, independent real estate appraisal and evaluation program," and that appraisers fulfilling reviews should "have the knowledge and expertise to determine 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 rules, just contact Village Appraisal Ltd..

Appraisal reviews "should conclude whether the appraisal or evaluation is appropriate for the transaction, the danger of the transaction, and whether the actions by which the collateral valuation is acquired ensures independence and quality," the Federal Reserve says. They "must also demonstrate whether the appraisal or evaluation report is even with the engagement letter, which describes the outlook of the appraisal assignment." The Federal Reserve also notes that "some banks add regular reviews with post-funding surveys of appraisal quality for some of their higher-liability or greater-value transactions as a channel to assist in revealing valuation complications."

In addition to adjusting our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are usually 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. At Village Appraisal Ltd., we are experienced in all types of appraisal reviews, review procedures and the obligations of review appraisers.