Appraisal Reviews

According to a statement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation programs," and that appraisers performing reviews ought to "have the knowledge and skills to determine compliance with the Federal Reserves appraisal regulations and guidelines." Advanced Appraising, Ltd provides appraisal review services that are impartial, qualified, professional and square with the Federal Reserve's guidelines.

As stated by the Federal Reserve, appraisal reviews "should verify whether the appraisal or evaluation is fitting for the transaction, the risk of the transaction, and whether the manners by which the collateral valuation is attained ensures independence and quality." Moreover, they "should announce whether the appraisal or evaluation report is compatible with the letter of engagement, which sets forth the capacity of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions augment regular reviews with post-funding assessments of appraisal quality for any of their higher-risk or large-value contracts as a means to assist in addressing valuation concerns."

In addition to conforming our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we will formulate an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Advanced Appraising, Ltd, we're skilled in all forms of appraisal reviews, review procedures and the responsibilities of review appraisers.