Appraisal Reviews

As said in a statement by the Federal Reserve, "financial institutions must have an effective, impartial real estate appraisal and evaluation plan," and that appraisers doing reviews ought to "have the ability and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are unbiased, qualified, professional and in accordance with the Federal Reserve's regulations, contact STEVEN GIANNINI & ASSOCIATES.

Appraisal reviews "have to conclude whether the appraisal or evaluation is suitable for the transaction, the risk of the transaction, and whether the means by which the collateral valuation is acquired ensures independence and quality," according to the Federal Reserve. In addition, they "must indicate whether the appraisal or evaluation report is consistent with the letter of engagement, which gives an account of the extent of the appraisal assignment." Lastly, the Federal Reserve states that "some financial institutions supplement routine reviews with post-funding assessments of appraisal quality for any of their high-risk or greater-value affairs as a channel to aid in uncovering valuation problems."

In addition to adapting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we'll develop 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 STEVEN GIANNINI & ASSOCIATES, we're experienced in all forms of appraisal reviews, review practices and the requirements of review appraisers.