Appraisal Reviews by Mindi Kitten Appraisals

As said in an announcement by the Federal Reserve, "financial institutions must have an effective, independent real estate appraisal and evaluation plan," and that appraisers fulfilling reviews ought to "have the ability and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are independent, qualified, professional and in line with the Federal Reserve's regulations, contact Mindi Kitten Appraisals.

Appraisal reviews "should conclude whether the appraisal or evaluation is fitting for the transaction, the uncertainty of the transaction, and whether the processes by which the collateral valuation is accomplished ensures independence and quality," according to the Federal Reserve. In addition, they "should indicate whether the appraisal or evaluation report matches the letter of engagement, which describes the scope of the appraisal assignment." The Federal Reserve also states that "some institutions add regular reviews with post-funding evaluations of appraisal quality for a number of their high-liability or larger-value transactions as a way to aid in revealing valuation problems."

In addition to adapting our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we can produce 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 Mindi Kitten Appraisals, we are experienced in every form of appraisal review, review process and the responsibilities of review appraisers.