Expert Appraisal Reviews by L & B Appraisals

According to an announcement by the Federal Reserve, "financial institutions are required to have an effective, objective real estate appraisal and evaluation plan," and that appraisers performing reviews must "have the ability and skills to assess compliance with the Federal Reserves appraisal rules and guidelines." L & B Appraisals provides appraisal review services that are independent, qualified, professional and compliant with the Federal Reserve's guidelines.

Appraisal reviews "should conclude whether the appraisal or evaluation is applicable for the transaction, the risk of the transaction, and whether the actions by which the collateral valuation is accomplished guarantees independence and quality," as stated by the Federal Reserve. Moreover, they "must signify whether the appraisal or evaluation report is even with the engagement letter, which describes the range of the appraisal assignment." Last, The Federal Reserve notes that "some financial institutions add typical reviews with post-funding surveys of appraisal quality for any of their high-liability or greater-value affairs as a method to assist in discovering valuation dilemmas."

In addition to adjusting our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we will 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 L & B Appraisals, we're experienced in every form of appraisal review, review procedure and the obligations of review appraisers.