Expert Appraisal Reviews by Lazer Fast Appraisals

According to a statement by the Federal Reserve, "financial institutions are required to have effective, independent real estate appraisal and evaluation programs," and that appraisers doing reviews ought to "have the knowledge and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." Lazer Fast Appraisals provides appraisal review services that are objective, qualified, professional and compliant with the Federal Reserve's guidelines.

Appraisal reviews "must determine whether the appraisal or evaluation is pertinent for the transaction, the liability of the transaction, and whether the practices by which the collateral valuation is accomplished guarantees independence and quality," as stated by the Federal Reserve. Moreover, they "should announce whether the appraisal or evaluation report matches the engagement letter, which sets forth the range of the appraisal assignment." The Federal Reserve also states that "some banks supplement regular reviews with post-funding assessments of appraisal quality for some of their high-liability or high-value contracts as a control to assist in discovering valuation complications."

In addition to coordinating our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we'll formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Lazer Fast Appraisals, we are experienced in every type of appraisal review, review process and the requirements of review appraisers.