Experienced Appraisal Reviews by Gary Nakamura

As said in an announcement by the Federal Reserve, "financial institutions must have an effective, objective real estate appraisal and evaluation plan," and that appraisers performing reviews must "have the proficiency and expertise to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Gary Nakamura provides appraisal review services that are impartial, efficient, professional and in line with the Federal Reserve's regulations.

Appraisal reviews "should conclude whether the appraisal or evaluation is well-suited for the transaction, the uncertainty of the transaction, and whether the process by which the collateral valuation is accomplished guarantees independence and quality," according to the Federal Reserve. Moreover, they "should indicate whether the appraisal or evaluation report is compatible with the engagement letter, which sets forth the outlook of the appraisal assignment." The Federal Reserve also notes that "some banks reinforce typical reviews with post-funding surveys of appraisal quality for a few of their high-liability or higher-value transactions as a method to assist in identifying valuation problems."

In addition to coordinating our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we'll formulate an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Gary Nakamura, we are qualified in every type of appraisal review, review practice and the responsibilities of review appraisers.