Appraisers of America, Inc. Appraisal Reviews

As said in a statement by the Federal Reserve, "financial institutions must have effective, unbiased real estate appraisal and evaluation plans," and that appraisers performing reviews have to "have the knowledge and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." Here at Appraisers of America, Inc., we provide appraisal review services that are objective, qualified, professional and compliant with the Federal Reserve's rules.

Appraisal reviews "must verify whether the appraisal or evaluation is well-suited for the transaction, the liability of the transaction, and whether the methods by which the collateral valuation is obtained guarantees independence and quality," according to the Federal Reserve. They "should also indicate whether the appraisal or evaluation report is compatible with the letter of engagement, which gives an account of the extent of the appraisal assignment." Last, The Federal Reserve notes that "some institutions supplement typical reviews with post-funding assessments of appraisal quality for a number of their high-risk or larger-value transactions as a method to help in uncovering valuation problems."

In addition to adjusting our work to the procedures 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 of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Appraisers of America, Inc., we are qualified in all types of appraisal reviews, review practices and the obligations of review appraisers.