Appraisal Reviews with Nextgen Valuations Group LLC

According to a statement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation plans," and that appraisers performing reviews have to "have the familiarity and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." Here at Nextgen Valuations Group LLC, we provide appraisal review services that are unbiased, efficient, professional and in line with the Federal Reserve's regulations.

Appraisal reviews "have to decide whether the appraisal or evaluation is relevant for the transaction, the danger of the transaction, and whether the manners by which the collateral valuation is collected ensures independence and quality," as stated by the Federal Reserve. Moreover, they "should signify whether the appraisal or evaluation report is consistent with the letter of engagement, which describes the scope of the appraisal assignment." The Federal Reserve also says that "some financial institutions supplement periodic reviews with post-funding assessments of appraisal quality for some of their high-risk or higher-value transactions as a channel to assist in revealing valuation issues."

In addition to adjusting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we'll prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Nextgen Valuations Group LLC, we're qualified in all forms of appraisal reviews, review practices and the requirements of review appraisers.