Quality Appraisal Reviews with Appraisal House, Inc.

According to a statement by the Federal Reserve, "financial institutions must have an effective, independent real estate appraisal and evaluation program," and that appraisers performing reviews are obligated to "have the proficiency and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Appraisal House, Inc. provides appraisal review services that are independent, expert, professional and square with the Federal Reserve's regulations.

Appraisal reviews "must conclude whether the appraisal or evaluation is pertinent for the transaction, the danger of the transaction, and whether the procedures by which the collateral valuation is obtained guarantees independence and quality," according to the Federal Reserve. They "must also denote whether the appraisal or evaluation report is even with the letter of engagement, which sets forth the outlook of the appraisal assignment." Last, The Federal Reserve states that "some institutions reinforce periodic reviews with post-funding evaluations of appraisal quality for a few of their high-liability or high-value contracts as a method to help in detecting valuation disputes."

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'll prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Appraisal House, Inc., we are skilled in every kind of appraisal review, review practice and the responsibilities of review appraisers.