Appraisal Reviews with Anderson Appraisal Services

According to a statement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation plans," and that appraisers fulfilling reviews should "have the knowledge and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." Here at Anderson Appraisal Services, we provide appraisal review services that are objective, efficient, professional and in line with the Federal Reserve's guidelines.

Appraisal reviews "ought to figure out whether the appraisal or evaluation is applicable for the transaction, the danger of the transaction, and whether the procedure by which the collateral valuation is obtained guarantees independence and quality," as stated by the Federal Reserve. In addition, they "must announce whether the appraisal or evaluation report is consistent with the engagement letter, which sets forth the scope of the appraisal assignment." The Federal Reserve also says that "some financial institutions supplement periodic reviews with post-funding assessments of appraisal quality for a number of their high-risk or large-value transactions as a means to assist in revealing valuation issues."

In addition to tailoring our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are typically used for review services, and we'll develop 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 Anderson Appraisal Services, we're qualified in all types of appraisal reviews, review procedures and the responsibilities of review appraisers.