Quality Appraisal Reviews with Michael Wilson

As said in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, independent real estate appraisal and evaluation programs," and that appraisers performing reviews have to "have the ability and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." At Michael Wilson, we provide appraisal review services that are impartial, expert, professional and in accordance with the Federal Reserve's rules.

According to the Federal Reserve, appraisal reviews "ought to verify 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 accomplished guarantees independence and quality." Moreover, they "should announce whether the appraisal or evaluation report is even with the engagement letter, which gives an account of the capacity of the appraisal assignment." Last, The Federal Reserve says that "some institutions supplement periodic reviews with post-funding surveys of appraisal quality for a number of their high-liability or high-value dealings as a method to aid in exposing valuation problems."

In addition to coordinating our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are largely 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 Michael Wilson, we're skilled in all types of appraisal reviews, review practices and the responsibilities of review appraisers.