Qualified Appraisal Reviews with The Appraisal Firm

As said in a statement by the Federal Reserve, "financial institutions are obligated to have an effective, unbiased real estate appraisal and evaluation program," and that appraisers fulfilling reviews should "have the knowledge and skills to assess compliance with the Federal Reserves appraisal rules and guidelines." The Appraisal Firm provides appraisal review services that are independent, expert, professional and square with the Federal Reserve's guidelines.

As stated by the Federal Reserve, appraisal reviews "must conclude whether the appraisal or evaluation is well-suited for the transaction, the danger of the transaction, and whether the manner by which the collateral valuation is obtained guarantees independence and quality." Moreover, they "must announce whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the outlook of the appraisal assignment." Last, The Federal Reserve states that "some institutions reinforce regular reviews with post-funding surveys of appraisal quality for any of their higher-risk or large-value transactions as a method to assist in addressing valuation disputes."

In addition to adjusting 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 can formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At The Appraisal Firm, we're trained in every type of appraisal review, review procedure and the requirements of review appraisers.