Appraisal Reviews by BNKP Property Solutions

According to a statement by the Federal Reserve, "financial institutions are required to have an effective, objective real estate appraisal and evaluation plan," and that appraisers completing reviews have to "have the ability and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." If you're looking for appraisal review services that are independent, expert, professional and compliant with the Federal Reserve's regulations, contact BNKP Property Solutions.

As stated by the Federal Reserve, appraisal reviews "must find out whether the appraisal or evaluation is fitting for the transaction, the uncertainty of the transaction, and whether the methods by which the collateral valuation is obtained guarantees independence and quality." Moreover, they "must demonstrate whether the appraisal or evaluation report matches the letter of engagement, which sets forth the extent of the appraisal assignment." Lastly, the Federal Reserve says that "some institutions supplement typical reviews with post-funding evaluations of appraisal quality for any of their high-risk or greater-value contracts as a channel to help in discovering valuation concerns."

In addition to coordinating our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we'll produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At BNKP Property Solutions, we are trained in all kinds of appraisal reviews, review procedures and the responsibilities of review appraisers.