Metro Appraisals Appraisal Reviews

As said in a statement by the Federal Reserve, "financial institutions are required to have an effective, unbiased real estate appraisal and evaluation program," and that appraisers performing reviews should "have the ability and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." If you're looking for appraisal review services that are impartial, expert, professional and square with the Federal Reserve's rules, contact Metro Appraisals.

Appraisal reviews "ought to find out whether the appraisal or evaluation is pertinent for the transaction, the uncertainty of the transaction, and whether the process by which the collateral valuation is acquired guarantees independence and quality," according to the Federal Reserve. In addition, they "should announce whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the extent of the appraisal assignment." The Federal Reserve also notes that "some financial institutions add periodic reviews with post-funding evaluations of appraisal quality for a few of their high-liability or higher-value dealings as a control to assist in exposing valuation dilemmas."

In addition to coordinating our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are normally 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 Metro Appraisals, we are skilled in all kinds of appraisal reviews, review procedures and the responsibilities of review appraisers.