Appraisal Reviews by Floyd Appraisal Works Inc

According to an announcement by the Federal Reserve, "financial institutions must have an effective, objective real estate appraisal and evaluation plan," and that appraisers fulfilling reviews ought to "have the proficiency and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." Here at Floyd Appraisal Works Inc, we provide appraisal review services that are impartial, efficient, professional and compliant with the Federal Reserve's regulations.

According to the Federal Reserve, appraisal reviews "have to figure out whether the appraisal or evaluation is fitting for the transaction, the uncertainty of the transaction, and whether the means by which the collateral valuation is obtained guarantees independence and quality." They "should also demonstrate whether the appraisal or evaluation report is compatible with the letter of engagement, which sets forth the extent of the appraisal assignment." The Federal Reserve also states that "some financial institutions reinforce periodic reviews with post-funding assessments of appraisal quality for a number of their higher-liability or larger-value transactions as a means to aid in revealing valuation dilemmas."

In addition to tailoring our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we can 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 Floyd Appraisal Works Inc, we are trained in all types of appraisal reviews, review practices and the responsibilities of review appraisers.