Experienced Appraisal Reviews with BIZ Appraisal Company

A statement by the Federal Reserve says, "financial institutions must have an effective, objective real estate appraisal and evaluation plan," and that appraisers doing reviews are obligated to "have the proficiency and skillfulness to determine compliance with the Federal Reserves appraisal regulations and guidelines." At BIZ Appraisal Company, we provide appraisal review services that are unbiased, qualified, professional and in accordance with the Federal Reserve's regulations.

Appraisal reviews "have to figure out whether the appraisal or evaluation is well-suited for the transaction, the risk of the transaction, and whether the practices by which the collateral valuation is obtained ensures independence and quality," as stated by the Federal Reserve. Moreover, they "must denote whether the appraisal or evaluation report is consistent with the letter of engagement, which sets forth the capacity of the appraisal assignment." Last, The Federal Reserve says that "some institutions supplement regular reviews with post-funding assessments of appraisal quality for some of their high-risk or high-value contracts as a method to assist in exposing valuation issues."

In addition to coordinating our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we will 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 BIZ Appraisal Company, we're experienced in every type of appraisal review.