Appraisal Reviews with Will Ismael Jr.

As said in a statement by the Federal Reserve, "financial institutions must have an effective, unbiased real estate appraisal and evaluation program," and that appraisers doing reviews ought to "have the proficiency and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Here at Will Ismael Jr., we provide appraisal review services that are independent, qualified, professional and compliant with the Federal Reserve's rules.

The Federal Reserve says appraisal reviews "have to figure out whether the appraisal or evaluation is appropriate for the transaction, the risk of the transaction, and whether the manners by which the collateral valuation is acquired guarantees independence and quality." Moreover, they "must show whether the appraisal or evaluation report is even with the engagement letter, which describes the range of the appraisal assignment." Lastly, the Federal Reserve says that "some institutions augment periodic reviews with post-funding assessments of appraisal quality for a number of their higher-risk or larger-value dealings as a control to aid in exposing valuation disputes."

In addition to coordinating our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are largely 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. Here at Will Ismael Jr., we're skilled in all kinds of appraisal reviews, review processes and the responsibilities of review appraisers.