Appraisal Reviews

As stated in an announcement by the Federal Reserve, "financial institutions must have an effective, unbiased real estate appraisal and evaluation program," and that appraisers fulfilling reviews are obligated to "have the proficiency and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." AppraisALL Inc. provides appraisal review services that are independent, efficient, professional and square with the Federal Reserve's rules.

The Federal Reserve says appraisal reviews "ought to conclude whether the appraisal or evaluation is fitting for the transaction, the risk of the transaction, and whether the methods by which the collateral valuation is acquired guarantees independence and quality." They "should also denote whether the appraisal or evaluation report is even with the letter of engagement, which gives an account of the scope of the appraisal assignment." Lastly, the Federal Reserve states that "some banks supplement periodic reviews with post-funding evaluations of appraisal quality for some of their high-liability or larger-value transactions as a channel to aid in detecting valuation disputes."

In addition to coordinating our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we will produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At AppraisALL Inc., we're experienced in all forms of appraisal reviews, review procedures and the requirements of review appraisers.