Experienced Appraisal Reviews by Village Appraisal Ltd.

According to a statement by the Federal Reserve, "financial institutions are obligated to have effective, unbiased real estate appraisal and evaluation programs," and that appraisers doing reviews ought to "have the ability and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Village Appraisal Ltd. provides appraisal review services that are independent, efficient, professional and square with the Federal Reserve's regulations.

As stated by the Federal Reserve, appraisal reviews "have to figure out whether the appraisal or evaluation is suitable for the transaction, the risk of the transaction, and whether the methods by which the collateral valuation is acquired ensures independence and quality." They "should also denote whether the appraisal or evaluation report is true to the engagement letter, which describes the capacity of the appraisal assignment." Lastly, the Federal Reserve says that "some institutions reinforce typical reviews with post-funding evaluations of appraisal quality for some of their high-risk or high-value affairs as a means to help in discovering valuation issues."

In addition to coordinating our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are primarily used for review services, and we'll formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Village Appraisal Ltd., we're trained in all forms of appraisal reviews, review procedures and the responsibilities of review appraisers.