Appraisal Reviews by Alexander Appraisals

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

Appraisal reviews "should verify whether the appraisal or evaluation is relevant for the transaction, the risk of the transaction, and whether the practices by which the collateral valuation is attained guarantees independence and quality," as stated by the Federal Reserve. They "must also indicate whether the appraisal or evaluation report is true to the engagement letter, which gives an account of the outlook of the appraisal assignment." Lastly, the Federal Reserve notes that "some financial institutions supplement periodic reviews with post-funding evaluations of appraisal quality for any of their high-liability or higher-value transactions as a means to aid in addressing valuation issues."

In addition to conforming our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we will prepare 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 Alexander Appraisals, we're qualified in every type of appraisal review, review process and the responsibilities of review appraisers.