Appraisal Reviews by Milliken Appraisals

As stated in an announcement by the Federal Reserve, "financial institutions must have an effective, impartial real estate appraisal and evaluation plan," and that appraisers performing reviews must "have the proficiency and skills to assess compliance with the Federal Reserves appraisal rules and guidelines." If you're looking for appraisal review services that are impartial, qualified, professional and in line with the Federal Reserve's rules, look no further than Milliken Appraisals.

As stated by the Federal Reserve, appraisal reviews "have to verify whether the appraisal or evaluation is pertinent for the transaction, the uncertainty of the transaction, and whether the procedures by which the collateral valuation is collected guarantees independence and quality." In addition, they "must demonstrate whether the appraisal or evaluation report is true to the engagement letter, which sets forth the capacity of the appraisal assignment." The Federal Reserve also says that "some institutions add typical reviews with post-funding evaluations of appraisal quality for a few of their higher-risk or higher-value dealings as a control to aid in discovering valuation concerns."

In addition to coordinating our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we will prepare an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Milliken Appraisals, we're qualified in every type of appraisal review, review procedure and the responsibilities of review appraisers.