Appraisal Reviews with Germano & Van Leeuwen, Inc.

As stated in an announcement by the Federal Reserve, "financial institutions are required to have an effective, independent real estate appraisal and evaluation program," and that appraisers fulfilling reviews have to "have the familiarity and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are impartial, expert, professional and in accordance with the Federal Reserve's rules, contact Germano & Van Leeuwen, Inc. .

Appraisal reviews "should figure out whether the appraisal or evaluation is applicable for the transaction, the uncertainty of the transaction, and whether the manner by which the collateral valuation is accomplished ensures independence and quality," the Federal Reserve says. In addition, they "must denote whether the appraisal or evaluation report is compatible with the letter of engagement, which sets forth the outlook of the appraisal assignment." Lastly, the Federal Reserve says that "some banks supplement periodic reviews with post-funding surveys of appraisal quality for a number of their higher-liability or high-value transactions as a way to help in identifying valuation issues."

In addition to tailoring our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we'll 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. At Germano & Van Leeuwen, Inc. , we're experienced in all types of appraisal reviews, review practices and the responsibilities of review appraisers.