Appraisal Reviews

As said in a statement by the Federal Reserve, "financial institutions must have an effective, independent real estate appraisal and evaluation program," and that appraisers doing reviews ought to "have the proficiency and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." At MGK Properties, we provide appraisal review services that are impartial, efficient, professional and in line with the Federal Reserve's rules.

Appraisal reviews "have to figure out whether the appraisal or evaluation is well-suited for the transaction, the uncertainty of the transaction, and whether the process by which the collateral valuation is attained guarantees independence and quality," the Federal Reserve says. Moreover, they "should signify whether the appraisal or evaluation report is even with the letter of engagement, which describes the range of the appraisal assignment." The Federal Reserve also says that "some institutions add periodic reviews with post-funding assessments of appraisal quality for a number of their high-liability or high-value dealings as a means to aid in uncovering valuation disputes."

In addition to tailoring our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we can prepare 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 MGK Properties, we're experienced in every form of appraisal review, review process and the obligations of review appraisers.