Appraisal Reviews with Appraisal Associates

As said in an announcement by the Federal Reserve, "financial institutions are required to have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers completing reviews have to "have the familiarity and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." If you're looking for appraisal review services that are impartial, efficient, professional and in accordance with the Federal Reserve's guidelines, just contact Appraisal Associates.

The Federal Reserve says appraisal reviews "have to verify whether the appraisal or evaluation is pertinent for the transaction, the uncertainty of the transaction, and whether the processes by which the collateral valuation is attained ensures independence and quality." In addition, they "must demonstrate whether the appraisal or evaluation report matches the letter of engagement, which describes the scope of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions augment regular reviews with post-funding assessments of appraisal quality for a few of their higher-risk or higher-value affairs as a control to aid in detecting valuation complications."

In addition to adjusting our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we'll prepare 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 Appraisal Associates, we're experienced in every type of appraisal review, review process and the requirements of review appraisers.