Experienced Appraisal Reviews by Lyman Appraisal Services, LLC

As said in a statement by the Federal Reserve, "financial institutions are required to have an effective, impartial real estate appraisal and evaluation program," and that appraisers doing reviews are obligated to "have the familiarity and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." If you're looking for appraisal review services that are unbiased, efficient, professional and square with the Federal Reserve's regulations, contact Lyman Appraisal Services, LLC.

According to the Federal Reserve, appraisal reviews "should determine whether the appraisal or evaluation is relevant for the transaction, the uncertainty of the transaction, and whether the practices by which the collateral valuation is attained guarantees independence and quality." In addition, they "must signify whether the appraisal or evaluation report matches the letter of engagement, which gives an account of the outlook of the appraisal assignment." Last, The Federal Reserve notes that "some banks reinforce periodic reviews with post-funding surveys of appraisal quality for a few of their higher-liability or greater-value contracts as a means to help in detecting valuation dilemmas."

In addition to adjusting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are typically used for review services, and we can produce 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 Lyman Appraisal Services, LLC, we are qualified in all kinds of appraisal reviews, review practices and the obligations of review appraisers.