Appraisal Reviews with Violet Valuations

As said in a statement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation plans," and that appraisers performing reviews have to "have the ability and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." Violet Valuations provides appraisal review services that are objective, qualified, professional and compliant with the Federal Reserve's guidelines.

Appraisal reviews "have to determine whether the appraisal or evaluation is well-suited for the transaction, the danger of the transaction, and whether the practices by which the collateral valuation is acquired guarantees independence and quality," as stated by the Federal Reserve. They "must also announce whether the appraisal or evaluation report is true to the letter of engagement, which sets forth the outlook of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions reinforce routine reviews with post-funding assessments of appraisal quality for any of their high-risk or large-value affairs as a means to aid in revealing valuation issues."

In addition to conforming our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we will develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Violet Valuations, we are experienced in every kind of appraisal review, review practice and the responsibilities of review appraisers.