Certified Appraisers Appraisal Reviews

As said in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, impartial real estate appraisal and evaluation plan," and that appraisers fulfilling reviews are obligated to "have the proficiency and skills to determine compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are objective, expert, professional and square with the Federal Reserve's rules, look no further than Certified Appraisers.

As stated by the Federal Reserve, appraisal reviews "ought to determine whether the appraisal or evaluation is relevant for the transaction, the risk of the transaction, and whether the procedures by which the collateral valuation is collected ensures independence and quality." Moreover, they "should announce whether the appraisal or evaluation report matches the engagement letter, which describes the outlook of the appraisal assignment." Last, The Federal Reserve notes that "some institutions reinforce typical reviews with post-funding evaluations of appraisal quality for some of their higher-liability or higher-value contracts as a way to help in identifying valuation problems."

In addition to adjusting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are generally 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 Certified Appraisers, we're skilled in every form of appraisal review, review practice and the responsibilities of review appraisers.