Qualified Appraisal Reviews by A-Z Residential Appraisals

As said in a statement by the Federal Reserve, "financial institutions are required to have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers doing reviews ought to "have the ability and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are impartial, qualified, professional and in accordance with the Federal Reserve's rules, just contact A-Z Residential Appraisals.

According to the Federal Reserve, appraisal reviews "must find out whether the appraisal or evaluation is fitting for the transaction, the risk of the transaction, and whether the processes by which the collateral valuation is accomplished ensures independence and quality." Moreover, they "should show whether the appraisal or evaluation report is compatible with the letter of engagement, which gives an account of the capacity of the appraisal assignment." The Federal Reserve also states that "some financial institutions augment regular reviews with post-funding evaluations of appraisal quality for a number of their higher-liability or large-value transactions as a control to aid in exposing valuation complications."

In addition to adapting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we will develop 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 A-Z Residential Appraisals, we are experienced in every type of appraisal review, review process and the requirements of review appraisers.