Qualified Appraisal Reviews by Dependable Real Estate Appraisers

As stated in an announcement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation programs," and that appraisers performing reviews ought to "have the familiarity and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." Dependable Real Estate Appraisers provides appraisal review services that are unbiased, efficient, professional and square with the Federal Reserve's rules.

According to the Federal Reserve, appraisal reviews "have to decide whether the appraisal or evaluation is applicable for the transaction, the danger of the transaction, and whether the methods by which the collateral valuation is accomplished ensures independence and quality." Moreover, they "must indicate whether the appraisal or evaluation report is even with the letter of engagement, which sets forth the extent of the appraisal assignment." Lastly, the Federal Reserve notes that "some banks add typical reviews with post-funding evaluations of appraisal quality for a number of their higher-risk or higher-value dealings as a method to aid in identifying valuation issues."

In addition to adapting our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we'll produce 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 Dependable Real Estate Appraisers, we're skilled in all types of appraisal reviews, review processes and the requirements of review appraisers.