Appraisal: Reviews and Inspections

Standard Desk Review

• A review of an appraisal furnished to LSI by a lender, to determine if the opinion of value in the appraisal is reasonable.
• The subject property and comparables are not inspected.
• The reviewer verifies lot size, GLA, sales price, and date of sale for the subject property and the comparables, through an acceptable public data source as of the date of the original appraisal.

Standard Enhanced Desk Review

• Same as the Standard Desk Review, with up to 3 additional comparables provided.
• A location map (of the subject and additional comparables) is also included.

Standard Field Review

• A review of an appraisal furnished to LSI by a lender to determine if the opinion of value in the appraisal is reasonable.
• The subject property and comparables receive an exterior inspection from the street.
• Photographs of the subject's front and street, as well as the comparable sales' front are included.
• The reviewer verifies pertinent characteristics and features of the subject property and the comparables (to include sales price and date of sale) through acceptable data sources as of the date of the original appraisal.

Standard Enhanced Field Review

• Same as a Field Review, with up to 3 additional comparables provided.
• A location map (of the subject and additional comparables) is also included.

Standard Field Review w/Interior Inspection

• A Field Review with the addition of an interior inspection of the subject property.
• Photos of the subject's front, rear street and interior specified by the lender.

Appeal Analysis

• Same as the Field Review with the addition of MLS print outs (where available) for the comparables used in the original report and any new comparables introduced by the reviewer.
• Primarily used for the detection of a fraudulent appraisal.

Disaster Inspection Report

• Useful for lenders, servicers, investors or holders of mortgage-back securities which may have loans that are at risk due to a natural disaster.
• Identifies if damage is present and indicate if a more in-depth evaluation is required.
• Inspections may be performed by QC analyst, Realtor or Licensed Appraiser based on need and cost requirements.

Appraisal Update and/or Completion Report FNMA 1004D

• Update to a previous appraisal that was prepared subject to completion of repairs or incomplete items
• Notes items completed or still need to be completed since time of original appraisal
• Same appraiser performs reinspection who completed original appraisal report
• Allows lender to ascertain the current construction status of subject property without incurring the cost of another appraisal