Appraisal reviews "should determine whether the appraisal or evaluation is appropriate for the transaction, the risk of the transaction, and whether the process by which the collateral valuation is obtained ensures independence and quality," the Fed says.They "should also indicate whether the appraisal or evaluation report is consistent with the engagement letter, which sets forth the scope of the appraisal assignment."The Fed 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."

We offer two primary review products, the "Standard Review" and the "Forensic Review". 

Standard Reviews basically follow along with what was presented above and are usually completed for a lender, either a Bank or Mortgage Company. Banks or Mortgage Brokers order reviews either for a loan they are trying to fund or as part of their Quality Control process of reviewing appraisals after the loan was funded.

Forensic Reviews are a different kind of a Review of an appraisal report that are relatively new. "Forensic" means: "Pertaining to courts of justice" or "Relating to or used in legal proceedings". Most of our Forensic Reviews are completed in conjugation with Forensic Loan Audits by CPA's, Attorneys or Loan Modification Companies to determine if fraud or misrepresentations were made in the Appraisal which caused the original appraiser to provide an inflated appraisal. 

We have all read about the huge loan crisis in this country. It is important to understand that a fraudulent loan cannot be made without the participation by an appraiser. There are many ways that an unscrupulous appraiser can inflate the value of a property. With our experience, and the "tools" we have available to us we can analyze a bogus appraisal and determine what the value of a property should have been.

We work closely with our Clients that require Forensic Reviews and are prepared to assist them in any litigation that may be necessary.   

If you require either a Standard Review or a Forensic Review, please contact us and we will be happy to discuss your requirements