Qualified Appraisal Reviews with Young Appraisal Company, Inc.

According to an announcement by the Federal Reserve, "financial institutions are obligated to have effective, unbiased real estate appraisal and evaluation plans," and that appraisers completing reviews have to "have the knowledge and skills to determine compliance with the Federal Reserves appraisal regulations and guidelines." Here at Young Appraisal Company, Inc., we provide appraisal review services that are unbiased, efficient, professional and square with the Federal Reserve's guidelines.

Appraisal reviews "have to figure out whether the appraisal or evaluation is pertinent for the transaction, the risk of the transaction, and whether the actions by which the collateral valuation is accomplished guarantees independence and quality," as stated by the Federal Reserve. In addition, they "must denote whether the appraisal or evaluation report is even with the letter of engagement, which gives an account of the outlook of the appraisal assignment." The Federal Reserve also notes that "some banks augment periodic reviews with post-funding surveys of appraisal quality for a number of their high-liability or greater-value transactions as a means to aid in exposing valuation problems."

In addition to tailoring our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we'll produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Young Appraisal Company, Inc., we're skilled in all kinds of appraisal reviews, review processes and the requirements of review appraisers.