Quality Appraisal Reviews with Land and More, Inc.

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 doing reviews must "have the knowledge and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." Here at Land and More, Inc., we provide appraisal review services that are unbiased, efficient, professional and in line with the Federal Reserve's guidelines.

The Federal Reserve says appraisal reviews "ought to decide whether the appraisal or evaluation is well-suited for the transaction, the danger of the transaction, and whether the methods by which the collateral valuation is obtained guarantees independence and quality." Moreover, they "should indicate whether the appraisal or evaluation report matches the engagement letter, which describes the capacity of the appraisal assignment." The Federal Reserve also notes that "some institutions supplement periodic reviews with post-funding surveys of appraisal quality for a few of their higher-risk or large-value transactions as a way to aid in exposing valuation disputes."

In addition to adjusting our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we'll 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. At Land and More, Inc., we're experienced in every form of appraisal review, review process and the requirements of review appraisers.