Appraisal Reviews with Michigan Valuation Services, Inc

As stated in an announcement by the Federal Reserve, "financial institutions must have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers fulfilling reviews have to "have the proficiency and expertise to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are objective, efficient, professional and compliant with the Federal Reserve's regulations, just contact Michigan Valuation Services, Inc.

The Federal Reserve says appraisal reviews "should determine whether the appraisal or evaluation is pertinent for the transaction, the risk of the transaction, and whether the processes by which the collateral valuation is collected ensures independence and quality." In addition, they "should demonstrate whether the appraisal or evaluation report matches the letter of engagement, which describes the capacity of the appraisal assignment." Lastly, the Federal Reserve notes that "some financial institutions augment periodic reviews with post-funding evaluations of appraisal quality for a few of their high-liability or large-value affairs as a means to assist in uncovering valuation complications."

In addition to adjusting our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we can formulate 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 Michigan Valuation Services, Inc, we're experienced in all kinds of appraisal reviews, review processes and the requirements of review appraisers.