Appraisal Reviews by Next Day Appraisal, LLC

According to a statement by the Federal Reserve, "financial institutions are obligated to have an effective, impartial real estate appraisal and evaluation plan," and that appraisers doing reviews should "have the familiarity and expertise to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are unbiased, qualified, professional and in line with the Federal Reserve's regulations, just contact Next Day Appraisal, LLC.

Appraisal reviews "have to conclude whether the appraisal or evaluation is relevant for the transaction, the risk of the transaction, and whether the processes by which the collateral valuation is collected guarantees independence and quality," as stated by the Federal Reserve. In addition, they "must indicate whether the appraisal or evaluation report is true to the engagement letter, which gives an account of the range of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions add regular reviews with post-funding surveys of appraisal quality for any of their higher-risk or large-value dealings as a way to aid in addressing valuation concerns."

In addition to adjusting our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are typically used for review services, and we'll produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Next Day Appraisal, LLC, we're qualified in every form of appraisal review, review process and the requirements of review appraisers.