Qualified Appraisal Reviews by Appraisal-One

As stated in an announcement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation plans," and that appraisers performing reviews should "have the proficiency and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are independent, expert, professional and in line with the Federal Reserve's rules, contact Appraisal-One.

Appraisal reviews "must figure out whether the appraisal or evaluation is relevant for the transaction, the liability of the transaction, and whether the procedure by which the collateral valuation is collected ensures independence and quality," the Federal Reserve says. They "must also denote whether the appraisal or evaluation report is compatible with the engagement letter, which describes the range of the appraisal assignment." Lastly, the Federal Reserve says that "some financial institutions add typical reviews with post-funding surveys of appraisal quality for a few of their high-risk or large-value contracts as a means to assist in addressing valuation problems."

In addition to tailoring our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are typically used for review services, and we will 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-One, we're qualified in all types of appraisal reviews, review practices and the obligations of review appraisers.