Appraisal Reviews by Appraisal-One

As said in an announcement by the Federal Reserve, "financial institutions must have an effective, unbiased real estate appraisal and evaluation program," and that appraisers performing reviews should "have the knowledge and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Appraisal-One provides appraisal review services that are unbiased, expert, professional and in line with the Federal Reserve's guidelines.

As stated by the Federal Reserve, appraisal reviews "ought to find out whether the appraisal or evaluation is applicable for the transaction, the danger of the transaction, and whether the methods by which the collateral valuation is accomplished ensures independence and quality." They "should also demonstrate whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the range of the appraisal assignment." Lastly, the Federal Reserve says that "some banks add typical reviews with post-funding evaluations of appraisal quality for any of their high-liability or large-value contracts as a channel to help in uncovering valuation issues."

In addition to adapting our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we will develop 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-One, we're skilled in all types of appraisal reviews, review procedures and the responsibilities of review appraisers.