Appraisal Reviews by Iman Appraisals, Inc.

As stated in an announcement by the Federal Reserve, "financial institutions must have effective, unbiased real estate appraisal and evaluation plans," and that appraisers fulfilling reviews are obligated to "have the ability and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Here at Iman Appraisals, Inc., we provide appraisal review services that are objective, qualified, professional and square with the Federal Reserve's guidelines.

The Federal Reserve says appraisal reviews "must decide whether the appraisal or evaluation is suitable for the transaction, the danger of the transaction, and whether the process by which the collateral valuation is collected guarantees independence and quality." In addition, they "should indicate whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the range of the appraisal assignment." Last, The Federal Reserve notes that "some banks reinforce typical reviews with post-funding surveys of appraisal quality for some of their high-liability or larger-value dealings as a means to help in revealing valuation problems."

In addition to tailoring our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we'll develop 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 Iman Appraisals, Inc., we're trained in every type of appraisal review, review practice and the responsibilities of review appraisers.