Appraisal Reviews

As said in a statement by the Federal Reserve, "financial institutions must have an effective, impartial real estate appraisal and evaluation program," and that appraisers completing reviews must "have the proficiency and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." If you need appraisal review services that are independent, expert, professional and square with the Federal Reserve's rules, contact Performance Appraisals Inc..

The Federal Reserve says appraisal reviews "must find out whether the appraisal or evaluation is applicable for the transaction, the liability of the transaction, and whether the means by which the collateral valuation is accomplished ensures independence and quality." Moreover, they "should show whether the appraisal or evaluation report is compatible with the letter of engagement, which sets forth the range of the appraisal assignment." Lastly, the Federal Reserve states that "some banks supplement periodic reviews with post-funding assessments of appraisal quality for some of their higher-liability or larger-value affairs as a means to help in addressing valuation complications."

In addition to coordinating our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we'll develop 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 Performance Appraisals Inc., we are qualified in all forms of appraisal reviews, review processes and the responsibilities of review appraisers.