Experienced Appraisal Reviews by Accurate Appraisal Services

As said in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, unbiased real estate appraisal and evaluation procedures," and that appraisers fulfilling reviews must "have the familiarity and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Accurate Appraisal Services provides appraisal review services that are independent, expert, professional and in line with the Federal Reserve's guidelines.

According to the Federal Reserve, appraisal reviews "have to conclude whether the appraisal or evaluation is pertinent for the transaction, the risk of the transaction, and whether the manners by which the collateral valuation is attained guarantees independence and quality." They "must also indicate whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the capacity of the appraisal assignment." Last, The Federal Reserve says that "some banks supplement routine reviews with post-funding evaluations of appraisal quality for some of their high-liability or higher-value dealings as a method to aid in identifying valuation disputes."

In addition to adapting our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we will formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Accurate Appraisal Services, we're trained in all kinds of appraisal reviews, review processes and the obligations of review appraisers.