Experienced Appraisal Reviews with Minot Commercial Appraisal, LLC

As said in a statement by the Federal Reserve, "financial institutions are required to have an effective, impartial real estate appraisal and evaluation plan," and that appraisers doing reviews ought to "have the proficiency and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Minot Commercial Appraisal, LLC provides appraisal review services that are impartial, expert, professional and square with the Federal Reserve's rules.

As stated by the Federal Reserve, appraisal reviews "must verify whether the appraisal or evaluation is pertinent for the transaction, the liability of the transaction, and whether the manner by which the collateral valuation is obtained guarantees independence and quality." In addition, they "should indicate whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the scope of the appraisal assignment." Lastly, the Federal Reserve says that "some banks augment periodic reviews with post-funding assessments of appraisal quality for a number of their higher-risk or larger-value contracts as a method to help in identifying valuation complications."

In addition to tailoring our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we will develop 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 Minot Commercial Appraisal, LLC, we are trained in every type of appraisal review, review practice and the requirements of review appraisers.