Appraisal Reviews

As said in a statement by the Federal Reserve, "financial institutions must have effective, unbiased real estate appraisal and evaluation programs," and that appraisers performing reviews have to "have the proficiency and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." At Derek Rizzo - www.twincityappraiser.com, we provide appraisal review services that are independent, expert, professional and in accordance with the Federal Reserve's regulations.

Appraisal reviews "ought to decide whether the appraisal or evaluation is fitting for the transaction, the danger of the transaction, and whether the manners by which the collateral valuation is acquired guarantees independence and quality," the Federal Reserve says. They "must also show whether the appraisal or evaluation report is true to the engagement letter, which gives an account of the extent of the appraisal assignment." The Federal Reserve also notes that "some financial institutions augment routine reviews with post-funding assessments of appraisal quality for a number of their high-risk or higher-value affairs as a means to aid in detecting valuation disputes."

In addition to coordinating our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we'll develop 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 Derek Rizzo - www.twincityappraiser.com, we're skilled in all forms of appraisal reviews, review procedures and the requirements of review appraisers.