Appraisal Reviews by Practical Valuation, LLC

As said in a statement by the Federal Reserve, "financial institutions are obligated to have effective, independent real estate appraisal and evaluation programs," and that appraisers performing reviews are obligated to "have the proficiency and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." At Practical Valuation, LLC, we provide appraisal review services that are impartial, efficient, professional and compliant with the Federal Reserve's guidelines.

The Federal Reserve says appraisal reviews "have to decide whether the appraisal or evaluation is suitable for the transaction, the risk of the transaction, and whether the procedures by which the collateral valuation is accomplished ensures independence and quality." Moreover, they "should indicate whether the appraisal or evaluation report matches the engagement letter, which describes the range of the appraisal assignment." Last, The Federal Reserve states that "some institutions supplement periodic reviews with post-funding evaluations of appraisal quality for a few of their higher-risk or high-value transactions as a method to help in detecting valuation complications."

In addition to conforming our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we will prepare an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Practical Valuation, LLC, we're trained in every kind of appraisal review, review practice and the requirements of review appraisers.