Appraisal Reviews with R.E. Appraisals

As said in a statement by the Federal Reserve, "financial institutions must have an effective, objective real estate appraisal and evaluation program," and that appraisers doing reviews ought to "have the knowledge and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." R.E. Appraisals provides appraisal review services that are objective, efficient, professional and in accordance with the Federal Reserve's rules.

As stated by the Federal Reserve, appraisal reviews "ought to figure out whether the appraisal or evaluation is well-suited for the transaction, the risk of the transaction, and whether the procedures by which the collateral valuation is acquired guarantees independence and quality." They "should also indicate whether the appraisal or evaluation report is even with the engagement letter, which sets forth the outlook of the appraisal assignment." The Federal Reserve also notes that "some institutions augment periodic reviews with post-funding assessments of appraisal quality for some of their high-liability or high-value contracts as a channel to aid in identifying valuation problems."

In addition to coordinating our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we will prepare an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At R.E. Appraisals, we're skilled in all types of appraisal reviews, review procedures and the obligations of review appraisers.