Expert Appraisal Reviews by Floyd Appraisal Works Inc

As said in an announcement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation procedures," and that appraisers performing reviews ought to "have the familiarity and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." Here at Floyd Appraisal Works Inc, we provide appraisal review services that are independent, efficient, professional and square with the Federal Reserve's regulations.

As stated by the Federal Reserve, appraisal reviews "have to find out whether the appraisal or evaluation is pertinent for the transaction, the uncertainty of the transaction, and whether the processes by which the collateral valuation is acquired guarantees independence and quality." They "should also indicate whether the appraisal or evaluation report is true to the letter of engagement, which gives an account of the scope of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions supplement typical reviews with post-funding evaluations of appraisal quality for a few of their high-risk or large-value affairs as a means to aid in exposing valuation concerns."

In addition to adjusting our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we will develop 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 Floyd Appraisal Works Inc, we are trained in every type of appraisal review, review procedure and the obligations of review appraisers.