Appraisal Reviews by Real Estate Appraisal Professionals

According to a statement by the Federal Reserve, "financial institutions are obligated to have effective, independent real estate appraisal and evaluation procedures," and that appraisers doing reviews have to "have the proficiency and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are unbiased, efficient, professional and in accordance with the Federal Reserve's rules, contact Real Estate Appraisal Professionals.

Appraisal reviews "ought to figure out whether the appraisal or evaluation is pertinent for the transaction, the liability of the transaction, and whether the actions by which the collateral valuation is accomplished guarantees independence and quality," as stated by the Federal Reserve. They "should also signify whether the appraisal or evaluation report is compatible with the engagement letter, which sets forth the range of the appraisal assignment." The Federal Reserve also says that "some financial institutions augment typical reviews with post-funding surveys of appraisal quality for any of their higher-liability or greater-value contracts as a method to assist in addressing valuation dilemmas."

In addition to adapting our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we'll develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Real Estate Appraisal Professionals, we are qualified in every kind of appraisal review, review practice and the requirements of review appraisers.