Appraisal Reviews by Valuation Services

According to an announcement by the Federal Reserve, "financial institutions must have an effective, independent real estate appraisal and evaluation program," and that appraisers completing reviews must "have the knowledge and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." At Valuation Services, we provide appraisal review services that are unbiased, efficient, professional and compliant with the Federal Reserve's rules.

As stated by the Federal Reserve, appraisal reviews "ought to conclude whether the appraisal or evaluation is fitting for the transaction, the danger of the transaction, and whether the procedures by which the collateral valuation is attained ensures independence and quality." They "should also announce whether the appraisal or evaluation report is consistent with the engagement letter, which describes the extent of the appraisal assignment." Lastly, the Federal Reserve says that "some banks supplement periodic reviews with post-funding assessments of appraisal quality for a few of their higher-liability or larger-value transactions as a way to help in detecting valuation complications."

In addition to conforming our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we will produce an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Valuation Services, we're experienced in every form of appraisal review, review procedure and the requirements of review appraisers.