The purpose of appraisal reviews are to detect: whether the original appraisal or evaluation is suitable for the transaction, the exposure inherit in the transaction, and whether the procedure by which the property valuation is rendered ensures independence and quality.

Moreover, they should indicate whether the appraisal or evaluation report is in line with the engagement letter, which sets forth the scope of the appraisal assignment. Lastly, the Federal Reserve notes that "some banks supplement routine reviews with post-funding evaluations of appraisal quality for some of their higher-risk or greater-value transactions as a control to assist in detecting valuation problems".

If you have questions in reference to an appraisal, or if you're in the need of a real estate appraisal review, call K.W. APPRAISALS, LLC today.

In addition to coordinating our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are primarily used for review services, and we will prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at K.W. APPRAISALS, LLC, we are experienced in all kinds of appraisal reviews, review processes and the obligations of review appraisers.