Appraisal Reviews by Advanced Appraisal Experts

As said in a statement by the Federal Reserve, "financial institutions are obligated to have an effective, objective real estate appraisal and evaluation program," and that appraisers fulfilling reviews have to "have the proficiency and skillfulness to determine compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are impartial, efficient, professional and in line with the Federal Reserve's rules, contact Advanced Appraisal Experts.

Appraisal reviews "ought to conclude whether the appraisal or evaluation is well-suited for the transaction, the risk of the transaction, and whether the means by which the collateral valuation is acquired ensures independence and quality," the Federal Reserve says. In addition, they "must denote whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the scope of the appraisal assignment." The Federal Reserve also notes that "some banks add routine reviews with post-funding surveys of appraisal quality for any of their higher-risk or high-value affairs as a control to aid in revealing valuation problems."

In addition to coordinating our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we can produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Advanced Appraisal Experts, we're trained in all forms of appraisal reviews, review practices and the obligations of review appraisers.