Appraisal Reviews

As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, objective real estate appraisal and evaluation procedures," and that appraisers completing reviews have to "have the knowledge and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are objective, efficient, professional and in line with the Federal Reserve's regulations, contact Martindale Appraisal Services.

Appraisal reviews "should figure out whether the appraisal or evaluation is suitable for the transaction, the danger of the transaction, and whether the practices by which the collateral valuation is acquired guarantees independence and quality," as stated by the Federal Reserve. Moreover, they "should demonstrate whether the appraisal or evaluation report is even with the engagement letter, which sets forth the outlook of the appraisal assignment." Lastly, the Federal Reserve states that "some institutions reinforce routine reviews with post-funding surveys of appraisal quality for a few of their higher-risk or larger-value affairs as a channel to help in identifying valuation issues."

In addition to conforming our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are typically used for review services, and we can prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Martindale Appraisal Services, we're qualified in every type of appraisal review, review procedure and the obligations of review appraisers.