Quality Appraisal Reviews with MJ Anderson Group

According to an announcement by the Federal Reserve, "financial institutions are required to have an effective, objective real estate appraisal and evaluation program," and that appraisers fulfilling reviews must "have the ability and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." MJ Anderson Group provides appraisal review services that are impartial, efficient, professional and compliant with the Federal Reserve's regulations.

The Federal Reserve says appraisal reviews "ought to verify whether the appraisal or evaluation is pertinent for the transaction, the danger of the transaction, and whether the manners by which the collateral valuation is attained guarantees independence and quality." In addition, they "must signify whether the appraisal or evaluation report matches the engagement letter, which gives an account of the range of the appraisal assignment." Last, The Federal Reserve says that "some banks augment typical reviews with post-funding evaluations of appraisal quality for some of their higher-risk or large-value dealings as a method to help in identifying valuation issues."

In addition to adapting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we can 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 MJ Anderson Group, we're trained in all forms of appraisal reviews, review processes and the requirements of review appraisers.