Appraisal Reviews by Advanced Appraisal

According to a statement by the Federal Reserve, "financial institutions are required to have effective, independent real estate appraisal and evaluation procedures," and that appraisers completing reviews have to "have the knowledge and expertise to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." If you're looking for appraisal review services that are independent, expert, professional and compliant with the Federal Reserve's rules, contact Advanced Appraisal.

Appraisal reviews "should verify whether the appraisal or evaluation is suitable for the transaction, the liability of the transaction, and whether the actions by which the collateral valuation is accomplished ensures independence and quality," the Federal Reserve says. They "should also indicate whether the appraisal or evaluation report is consistent with the engagement letter, which describes the outlook of the appraisal assignment." Lastly, the Federal Reserve says that "some financial institutions augment routine reviews with post-funding assessments of appraisal quality for a few of their higher-risk or greater-value transactions as a channel to help in identifying valuation issues."

In addition to tailoring our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we can 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 Advanced Appraisal, we are skilled in every type of appraisal review, review process and the obligations of review appraisers.