Appraisal Reviews by Mindi Kitten Appraisals

According to an announcement by the Federal Reserve, "financial institutions must have effective, impartial real estate appraisal and evaluation programs," and that appraisers doing reviews are obligated to "have the knowledge and skills to assess compliance with the Federal Reserves appraisal rules and guidelines." If you're looking for appraisal review services that are unbiased, efficient, professional and in accordance with the Federal Reserve's regulations, contact Mindi Kitten Appraisals.

As stated by the Federal Reserve, appraisal reviews "have to decide whether the appraisal or evaluation is appropriate for the transaction, the uncertainty of the transaction, and whether the process by which the collateral valuation is obtained ensures independence and quality." They "should also signify whether the appraisal or evaluation report is true to the engagement letter, which describes the range of the appraisal assignment." Lastly, the Federal Reserve says that "some financial institutions supplement regular reviews with post-funding evaluations of appraisal quality for any of their higher-risk or larger-value affairs as a control to help in uncovering valuation issues."

In addition to adapting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are typically used for review services, and we can develop 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 Mindi Kitten Appraisals, we're qualified in all kinds of appraisal reviews, review procedures and the requirements of review appraisers.