Appraisal Reviews by Minks Appraisals

According to a statement by the Federal Reserve, "financial institutions are required to have effective, impartial real estate appraisal and evaluation plans," and that appraisers performing reviews have to "have the proficiency and skills to determine compliance with the Federal Reserves appraisal regulations and guidelines." Minks Appraisals provides appraisal review services that are impartial, efficient, professional and square with the Federal Reserve's rules.

According to the Federal Reserve, appraisal reviews "have to conclude whether the appraisal or evaluation is relevant for the transaction, the liability of the transaction, and whether the method by which the collateral valuation is attained ensures independence and quality." In addition, they "must show whether the appraisal or evaluation report is true to the engagement letter, which describes the outlook of the appraisal assignment." Last, The Federal Reserve notes that "some financial institutions supplement routine reviews with post-funding surveys of appraisal quality for a number of their higher-risk or higher-value contracts as a means to assist in exposing valuation dilemmas."

In addition to tailoring our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we will formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Minks Appraisals, we are skilled in every kind of appraisal review, review procedure and the requirements of review appraisers.