Appraisal Reviews with Las Vegas Appraisal Service, Inc.

According to a statement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation procedures," and that appraisers performing reviews have to "have the familiarity and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." At Las Vegas Appraisal Service, Inc., we provide appraisal review services that are objective, expert, professional and in line with the Federal Reserve's regulations.

Appraisal reviews "have to figure out whether the appraisal or evaluation is relevant for the transaction, the risk of the transaction, and whether the method by which the collateral valuation is obtained guarantees independence and quality," as stated by the Federal Reserve. Moreover, they "must demonstrate whether the appraisal or evaluation report matches the letter of engagement, which describes the extent of the appraisal assignment." The Federal Reserve also says that "some banks add typical reviews with post-funding assessments of appraisal quality for a number of their high-risk or greater-value dealings as a means to help in discovering valuation issues."

In addition to adjusting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we'll develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Las Vegas Appraisal Service, Inc., we are experienced in every type of appraisal review, review process and the responsibilities of review appraisers.