Appraisal Reviews

As stated in an announcement by the Federal Reserve, "financial institutions must have effective, objective real estate appraisal and evaluation plans," and that appraisers completing reviews must "have the familiarity and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Here at Appraisal-One, we provide appraisal review services that are unbiased, efficient, professional and compliant with the Federal Reserve's guidelines.

Appraisal reviews "ought to conclude whether the appraisal or evaluation is relevant for the transaction, the uncertainty of the transaction, and whether the manners by which the collateral valuation is collected ensures independence and quality," as stated by the Federal Reserve. They "should also signify whether the appraisal or evaluation report is consistent with the letter of engagement, which describes the range of the appraisal assignment." Last, The Federal Reserve says that "some institutions add typical reviews with post-funding evaluations of appraisal quality for a number of their higher-risk or high-value transactions as a channel to help in revealing valuation issues."

In addition to adapting our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we will prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Appraisal-One, we're experienced in every type of appraisal review, review practice and the responsibilities of review appraisers.