Experienced Appraisal Reviews by Quality Appraisals

As said in an announcement by the Federal Reserve, "financial institutions must have an effective, objective real estate appraisal and evaluation plan," and that appraisers doing reviews should "have the proficiency and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." Quality Appraisals provides appraisal review services that are objective, efficient, professional and compliant with the Federal Reserve's regulations.

Appraisal reviews "should determine whether the appraisal or evaluation is appropriate for the transaction, the uncertainty of the transaction, and whether the methods by which the collateral valuation is collected ensures independence and quality," as stated by the Federal Reserve. Moreover, they "must denote whether the appraisal or evaluation report is even with the letter of engagement, which sets forth the outlook of the appraisal assignment." Lastly, the Federal Reserve states that "some financial institutions supplement periodic reviews with post-funding surveys of appraisal quality for a few of their higher-risk or greater-value affairs as a control to help in uncovering valuation complications."

In addition to coordinating our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we can formulate 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 Quality Appraisals, we're qualified in all types of appraisal reviews, review practices and the obligations of review appraisers.