Expert Appraisal Reviews by Performance Appraisals Inc.

As said in an announcement by the Federal Reserve, "financial institutions must have an effective, independent real estate appraisal and evaluation plan," and that appraisers fulfilling reviews ought to "have the proficiency and expertise to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Here at Performance Appraisals Inc., we provide appraisal review services that are objective, expert, professional and in line with the Federal Reserve's guidelines.

Appraisal reviews "have to figure out whether the appraisal or evaluation is well-suited for the transaction, the risk of the transaction, and whether the process by which the collateral valuation is collected ensures independence and quality," according to the Federal Reserve. They "must also demonstrate whether the appraisal or evaluation report is true to the engagement letter, which gives an account of the extent of the appraisal assignment." Last, The Federal Reserve says that "some banks supplement regular reviews with post-funding assessments of appraisal quality for a few of their high-liability or greater-value dealings as a method to aid in addressing valuation complications."

In addition to adapting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are primarily used for review services, and we'll prepare an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Performance Appraisals Inc., we are trained in all kinds of appraisal reviews, review practices and the obligations of review appraisers.