Allen Appraisal Service Appraisal Reviews

As said in an announcement by the Federal Reserve, "financial institutions must have effective, objective real estate appraisal and evaluation plans," and that appraisers completing reviews are obligated to "have the proficiency and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are objective, qualified, professional and compliant with the Federal Reserve's guidelines, just contact Allen Appraisal Service.

According to the Federal Reserve, appraisal reviews "must decide whether the appraisal or evaluation is fitting for the transaction, the danger of the transaction, and whether the process by which the collateral valuation is collected ensures independence and quality." In addition, they "should indicate whether the appraisal or evaluation report is even with the engagement letter, which gives an account of the outlook of the appraisal assignment." Lastly, the Federal Reserve states that "some financial institutions add typical reviews with post-funding surveys of appraisal quality for a number of their high-risk or higher-value transactions as a means to aid in detecting valuation complications."

In addition to adapting our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we can formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Allen Appraisal Service, we're qualified in all forms of appraisal reviews, review procedures and the responsibilities of review appraisers.