Appraisal Reviews by Appraisal Expediters

As said in a statement by the Federal Reserve, "financial institutions are required to have an effective, independent real estate appraisal and evaluation program," and that appraisers fulfilling reviews are obligated to "have the knowledge and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." At Appraisal Expediters, we provide appraisal review services that are independent, expert, professional and square with the Federal Reserve's rules.

Appraisal reviews "must figure out whether the appraisal or evaluation is well-suited for the transaction, the liability of the transaction, and whether the actions by which the collateral valuation is obtained guarantees independence and quality," the Federal Reserve says. Moreover, they "should announce whether the appraisal or evaluation report matches the engagement letter, which describes the outlook of the appraisal assignment." The Federal Reserve also says that "some institutions add routine reviews with post-funding surveys of appraisal quality for a number of their high-liability or high-value contracts as a means to assist in addressing valuation dilemmas."

In addition to tailoring our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are typically 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 Appraisal Expediters, we're experienced in every type of appraisal review, review process and the responsibilities of review appraisers.