Qualified Appraisal Reviews by Real Property Appraisals

According to a statement by the Federal Reserve, "financial institutions must have effective, independent real estate appraisal and evaluation programs," and that appraisers performing reviews are obligated to "have the ability and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." At Real Property Appraisals, we provide appraisal review services that are independent, expert, professional and in line with the Federal Reserve's guidelines.

Appraisal reviews "have to decide whether the appraisal or evaluation is applicable for the transaction, the risk of the transaction, and whether the processes by which the collateral valuation is obtained ensures independence and quality," according to the Federal Reserve. In addition, they "must demonstrate whether the appraisal or evaluation report is consistent with the engagement letter, which describes the range of the appraisal assignment." Lastly, the Federal Reserve states that "some banks supplement typical reviews with post-funding surveys of appraisal quality for any of their higher-liability or larger-value contracts as a method to aid in revealing valuation problems."

In addition to coordinating our work to the forms 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 Property Appraisals, we're experienced in all types of appraisal reviews, review processes and the requirements of review appraisers.