Appraisal Reviews with Allen Appraisal Service

According to an announcement by the Federal Reserve, "financial institutions must have an effective, impartial real estate appraisal and evaluation program," and that appraisers performing reviews ought to "have the proficiency and skillfulness to determine compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are unbiased, qualified, professional and in accordance with the Federal Reserve's regulations, just contact Allen Appraisal Service.

Appraisal reviews "must verify whether the appraisal or evaluation is relevant for the transaction, the danger of the transaction, and whether the procedures by which the collateral valuation is attained ensures independence and quality," according to the Federal Reserve. Moreover, they "must denote whether the appraisal or evaluation report is even with the engagement letter, which sets forth the extent of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions add typical reviews with post-funding assessments of appraisal quality for a number of their high-risk or large-value transactions as a channel to aid in detecting valuation issues."

In addition to conforming our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we will 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 trained in all types of appraisal reviews, review processes and the obligations of review appraisers.