Experienced Appraisal Reviews with Residential Appraisal Services

According to an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, impartial real estate appraisal and evaluation program," and that appraisers doing reviews have to "have the proficiency and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." If you're looking for appraisal review services that are independent, qualified, professional and in line with the Federal Reserve's rules, just contact Residential Appraisal Services.

As stated by the Federal Reserve, appraisal reviews "should conclude whether the appraisal or evaluation is suitable for the transaction, the uncertainty of the transaction, and whether the method by which the collateral valuation is accomplished ensures independence and quality." They "should also signify whether the appraisal or evaluation report is consistent with the letter of engagement, which describes the extent of the appraisal assignment." The Federal Reserve also says that "some financial institutions augment periodic reviews with post-funding surveys of appraisal quality for a number of their high-liability or larger-value dealings as a method to aid in exposing valuation problems."

In addition to coordinating our work to the regulations 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 Residential Appraisal Services, we're trained in every form of appraisal review, review process and the requirements of review appraisers.