Quality Appraisal Reviews with James Minaya & Company

According to a statement by the Federal Reserve, "financial institutions must have effective, impartial real estate appraisal and evaluation plans," and that appraisers performing reviews should "have the proficiency and skillfulness to determine compliance with the Federal Reserves appraisal regulations and guidelines." If you're looking for appraisal review services that are objective, efficient, professional and in line with the Federal Reserve's regulations, contact James Minaya & Company.

Appraisal reviews "must verify whether the appraisal or evaluation is fitting for the transaction, the risk of the transaction, and whether the procedure by which the collateral valuation is acquired ensures independence and quality," the Federal Reserve says. In addition, they "should signify whether the appraisal or evaluation report is consistent with the letter of engagement, which sets forth the range of the appraisal assignment." The Federal Reserve also says that "some financial institutions augment routine reviews with post-funding evaluations of appraisal quality for a number of their high-liability or high-value transactions as a method to help in discovering valuation complications."

In addition to conforming our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are normally 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 James Minaya & Company, we are trained in every form of appraisal review, review procedure and the responsibilities of review appraisers.