Expert Appraisal Reviews with J.E.K. Appraisals

As said in an announcement by the Federal Reserve, "financial institutions are required to have effective, impartial real estate appraisal and evaluation plans," and that appraisers fulfilling reviews must "have the ability and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." J.E.K. Appraisals provides appraisal review services that are independent, qualified, professional and compliant with the Federal Reserve's rules.

Appraisal reviews "have to find out whether the appraisal or evaluation is applicable for the transaction, the uncertainty of the transaction, and whether the practices by which the collateral valuation is obtained ensures independence and quality," the Federal Reserve says. Moreover, they "should announce whether the appraisal or evaluation report matches the letter of engagement, which sets forth the scope of the appraisal assignment." Last, The Federal Reserve states that "some institutions supplement periodic reviews with post-funding surveys of appraisal quality for some of their high-risk or larger-value transactions as a way to help in revealing valuation complications."

In addition to adapting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we will formulate 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 J.E.K. Appraisals, we are trained in every form of appraisal review, review procedure and the requirements of review appraisers.