Appraisal Reviews with JGI Valuations

According to an announcement by the Federal Reserve, "financial institutions are obligated to have effective, objective real estate appraisal and evaluation plans," and that appraisers fulfilling reviews have to "have the familiarity and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." At JGI Valuations, we provide appraisal review services that are objective, efficient, professional and in accordance with the Federal Reserve's rules.

Appraisal reviews "should conclude whether the appraisal or evaluation is fitting for the transaction, the uncertainty of the transaction, and whether the procedure by which the collateral valuation is acquired ensures independence and quality," according to the Federal Reserve. They "should also show whether the appraisal or evaluation report is true to the letter of engagement, which describes the range of the appraisal assignment." The Federal Reserve also says that "some financial institutions add regular reviews with post-funding surveys of appraisal quality for a few of their high-liability or high-value dealings as a channel to aid in detecting valuation concerns."

In addition to conforming our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we'll develop 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 JGI Valuations, we're experienced in every type of appraisal review, review procedure and the obligations of review appraisers.