Joseph Mier & Associates Appraisal Reviews

As stated in an announcement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation procedures," and that appraisers fulfilling reviews ought to "have the ability and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." Here at Joseph Mier & Associates, we provide appraisal review services that are impartial, expert, professional and in accordance with the Federal Reserve's rules.

The Federal Reserve says appraisal reviews "ought to figure out whether the appraisal or evaluation is well-suited for the transaction, the risk of the transaction, and whether the means by which the collateral valuation is accomplished guarantees independence and quality." In addition, they "must announce whether the appraisal or evaluation report is true to the engagement letter, which sets forth the scope of the appraisal assignment." Last, The Federal Reserve states that "some financial institutions reinforce periodic reviews with post-funding assessments of appraisal quality for some of their higher-liability or large-value dealings as a method to assist in discovering valuation disputes."

In addition to conforming our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we can 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 Joseph Mier & Associates, we are qualified in every form of appraisal review, review procedure and the responsibilities of review appraisers.