Appraisal Reviews

According to an announcement by the Federal Reserve, "financial institutions are required to have an effective, independent real estate appraisal and evaluation program," and that appraisers doing reviews ought to "have the knowledge and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Here at , we provide appraisal review services that are independent, expert, professional and in line with the Federal Reserve's guidelines.

As stated by the Federal Reserve, appraisal reviews "have to conclude whether the appraisal or evaluation is suitable for the transaction, the uncertainty of the transaction, and whether the manners by which the collateral valuation is accomplished ensures independence and quality." In addition, they "must announce whether the appraisal or evaluation report is true to the engagement letter, which describes the outlook of the appraisal assignment." The Federal Reserve also states that "some financial institutions add typical reviews with post-funding evaluations of appraisal quality for a number of their high-risk or larger-value transactions as a control to help in discovering valuation complications."

In addition to tailoring our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we will produce an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At , we are trained in every type of appraisal review, review procedure and the obligations of review appraisers.