Qualified Appraisal Reviews by Accurate Value Real Estate Appraisals

According to 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 knowledge and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Accurate Value Real Estate Appraisals provides appraisal review services that are objective, efficient, professional and in accordance with the Federal Reserve's rules.

The Federal Reserve says appraisal reviews "have to decide whether the appraisal or evaluation is fitting for the transaction, the uncertainty of the transaction, and whether the processes by which the collateral valuation is accomplished guarantees independence and quality." They "must also signify whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the scope of the appraisal assignment." Lastly, the Federal Reserve states that "some institutions augment periodic reviews with post-funding assessments of appraisal quality for a number of their high-liability or larger-value transactions as a way to assist in uncovering valuation issues."

In addition to adjusting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we'll 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. Here at Accurate Value Real Estate Appraisals, we're qualified in every form of appraisal review, review practice and the responsibilities of review appraisers.