Appraisal Reviews with Benjamin Yau Appraisal Services

As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, impartial real estate appraisal and evaluation program," and that appraisers performing reviews ought to "have the ability and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." Benjamin Yau Appraisal Services provides appraisal review services that are unbiased, expert, professional and in accordance with the Federal Reserve's regulations.

The Federal Reserve says appraisal reviews "should decide whether the appraisal or evaluation is fitting for the transaction, the uncertainty of the transaction, and whether the means by which the collateral valuation is acquired ensures independence and quality." They "must also indicate whether the appraisal or evaluation report matches the letter of engagement, which gives an account of the extent of the appraisal assignment." Last, The Federal Reserve states that "some institutions supplement routine reviews with post-funding surveys of appraisal quality for a few of their high-risk or large-value transactions as a method to help in revealing valuation dilemmas."

In addition to conforming our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are typically used for review services, and we will formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Benjamin Yau Appraisal Services, we are skilled in all types of appraisal reviews, review practices and the obligations of review appraisers.