Qualified Appraisal Reviews by Affordable Appraisal

As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, independent real estate appraisal and evaluation plan," and that appraisers performing reviews have to "have the ability and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." If you're looking for appraisal review services that are unbiased, qualified, professional and in line with the Federal Reserve's guidelines, look no further than Affordable Appraisal.

The Federal Reserve says appraisal reviews "ought to verify whether the appraisal or evaluation is appropriate for the transaction, the uncertainty of the transaction, and whether the procedures by which the collateral valuation is attained guarantees independence and quality." In addition, they "must indicate whether the appraisal or evaluation report matches the letter of engagement, which describes the scope of the appraisal assignment." The Federal Reserve also says that "some banks supplement periodic reviews with post-funding assessments of appraisal quality for any of their higher-risk or larger-value dealings as a control to assist in detecting valuation disputes."

In addition to conforming our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we'll 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 Affordable Appraisal, we're trained in every type of appraisal review, review process and the responsibilities of review appraisers.