Appraisal Reviews with Z LOGIC APPRAISALS

According to a statement by the Federal Reserve, "financial institutions must have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers performing reviews should "have the ability and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." Here at Z LOGIC APPRAISALS, we provide appraisal review services that are objective, qualified, professional and compliant with the Federal Reserve's rules.

According to the Federal Reserve, appraisal reviews "have to decide whether the appraisal or evaluation is suitable for the transaction, the risk of the transaction, and whether the procedure by which the collateral valuation is collected ensures independence and quality." They "must also indicate whether the appraisal or evaluation report is consistent with the letter of engagement, which gives an account of the range of the appraisal assignment." The Federal Reserve also notes that "some financial institutions supplement periodic reviews with post-funding evaluations of appraisal quality for a few of their higher-liability or larger-value dealings as a control to help in uncovering valuation concerns."

In addition to adapting our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we will formulate an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Z LOGIC APPRAISALS, we're trained in all kinds of appraisal reviews, review practices and the obligations of review appraisers.