Expert Appraisal Reviews by BANDY APPRAISAL

As said in a statement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation procedures," and that appraisers completing reviews must "have the proficiency and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." BANDY APPRAISAL provides appraisal review services that are objective, qualified, professional and square with the Federal Reserve's rules.

Appraisal reviews "ought to verify whether the appraisal or evaluation is relevant for the transaction, the risk of the transaction, and whether the procedure by which the collateral valuation is accomplished guarantees independence and quality," according to the Federal Reserve. Moreover, they "should signify whether the appraisal or evaluation report is even with the engagement letter, which describes the outlook of the appraisal assignment." Lastly, the Federal Reserve says that "some institutions supplement routine reviews with post-funding evaluations of appraisal quality for any of their high-risk or large-value transactions as a method to assist in identifying valuation concerns."

In addition to adapting our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we will prepare 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 BANDY APPRAISAL, we're trained in every type of appraisal review, review practice and the obligations of review appraisers.