AppraisalWorks Appraisal Reviews

As said in a statement by the Federal Reserve, "financial institutions are obligated to have an effective, independent real estate appraisal and evaluation plan," and that appraisers fulfilling reviews have to "have the knowledge and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Here at AppraisalWorks, we provide appraisal review services that are unbiased, efficient, professional and square with the Federal Reserve's rules.

Appraisal reviews "have to find out whether the appraisal or evaluation is applicable for the transaction, the liability of the transaction, and whether the method by which the collateral valuation is attained ensures independence and quality," according to the Federal Reserve. They "should also demonstrate whether the appraisal or evaluation report matches the engagement letter, which describes the range of the appraisal assignment." The Federal Reserve also says that "some financial institutions reinforce typical reviews with post-funding surveys of appraisal quality for some of their high-liability or large-value contracts as a control to help in addressing valuation disputes."

In addition to coordinating our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are largely 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 AppraisalWorks, we're skilled in every form of appraisal review, review procedure and the obligations of review appraisers.