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Appraisal Reviews by Maili Myers, Inc.As stated in an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers completing reviews ought to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Maili Myers, Inc. provides appraisal review services that are independent, expert, professional and compliant with the Federal Reserve's regulations.The purpose of appraisal reviews are to find out: whether the original appraisal or evaluation is suitable for the transaction, the exposure inherit in the transaction, and whether the actions by which the collateral valuation is acquired ensures independence and quality. Moreover, they must announce whether the appraisal or evaluation report matches the engagement letter, which sets forth the outlook of the appraisal assignment. Lastly, the Federal Reserve also 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".
In addition to tailoring our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we will produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Maili Myers, Inc., we're experienced in all kinds of appraisal reviews, review practices and the responsibilities of review appraisers.
You can count on Maili Myers, Inc. for our honest judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact Maili Myers, Inc. for more information regarding our qualifications, expertise and service offerings. |
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Maili Myers, Inc. realizes what the most prevalent reporting inadequacies are, especially in our housing market. We also understand what constitutes a quality appraisal.
At the same time, we are trained enough to recognize that the competition in our market are able to do a fine job.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on us to ethically examine appraisal reports executed by others. And those others may be reviewing our work, too!