AJB Appraisals Appraisal Reviews

According to a statement by the Federal Reserve, "financial institutions are obligated to have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers performing reviews ought to "have the knowledge and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." AJB Appraisals provides appraisal review services that are objective, qualified, professional and in line with the Federal Reserve's guidelines.

Appraisal reviews "have to find out whether the appraisal or evaluation is relevant for the transaction, the liability of the transaction, and whether the manners by which the collateral valuation is accomplished ensures independence and quality," according to the Federal Reserve. They "must also demonstrate whether the appraisal or evaluation report is consistent with the letter of engagement, which sets forth the capacity of the appraisal assignment." Lastly, the Federal Reserve states that "some banks reinforce typical reviews with post-funding evaluations of appraisal quality for some of their higher-risk or high-value affairs as a way to assist in addressing valuation disputes."

In addition to conforming our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are primarily used for review services, and we'll 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 AJB Appraisals , we are skilled in all forms of appraisal reviews, review procedures and the obligations of review appraisers.