Appraisal Reviews by Jose Gandia

As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, impartial real estate appraisal and evaluation plans," and that appraisers completing reviews should "have the knowledge and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." If you need appraisal review services that are unbiased, expert, professional and compliant with the Federal Reserve's regulations, contact Jose Gandia.

As stated by the Federal Reserve, appraisal reviews "should verify whether the appraisal or evaluation is well-suited for the transaction, the liability of the transaction, and whether the processes by which the collateral valuation is attained guarantees independence and quality." In addition, they "must indicate whether the appraisal or evaluation report is true to the engagement letter, which describes the range of the appraisal assignment." The Federal Reserve also says that "some institutions reinforce regular reviews with post-funding evaluations of appraisal quality for a few of their higher-risk or large-value transactions as a channel to assist in uncovering valuation concerns."

In addition to adapting our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are normally 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 Jose Gandia, we are skilled in all types of appraisal reviews, review processes and the obligations of review appraisers.