Appraisal Reviews

According to an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, independent real estate appraisal and evaluation plan," and that appraisers fulfilling reviews are obligated to "have the proficiency and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Appraisalty provides appraisal review services that are independent, expert, professional and compliant with the Federal Reserve's rules.

Appraisal reviews "ought to find out whether the appraisal or evaluation is relevant for the transaction, the uncertainty of the transaction, and whether the methods by which the collateral valuation is obtained guarantees independence and quality," according to the Federal Reserve. They "should also signify whether the appraisal or evaluation report matches the engagement letter, which gives an account of the capacity of the appraisal assignment." The Federal Reserve also says that "some banks reinforce periodic reviews with post-funding surveys of appraisal quality for a number of their higher-risk or larger-value transactions as a control to help in identifying valuation complications."

In addition to tailoring our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we will produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Appraisalty, we are trained in every type of appraisal review, review process and the requirements of review appraisers.