Qualified Appraisal Reviews with STEVEN GIANNINI & ASSOCIATES

As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, unbiased real estate appraisal and evaluation program," and that appraisers doing reviews are obligated to "have the knowledge and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." Here at STEVEN GIANNINI & ASSOCIATES, we provide appraisal review services that are unbiased, efficient, professional and in line with the Federal Reserve's guidelines.

Appraisal reviews "ought to determine whether the appraisal or evaluation is relevant for the transaction, the danger of the transaction, and whether the manner by which the collateral valuation is acquired ensures independence and quality," as stated by the Federal Reserve. They "must also show whether the appraisal or evaluation report is compatible with the letter of engagement, which sets forth the range of the appraisal assignment." Lastly, the Federal Reserve says that "some banks supplement regular reviews with post-funding surveys of appraisal quality for a few of their high-risk or high-value transactions as a control to assist in revealing valuation dilemmas."

In addition to adapting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we will produce 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 STEVEN GIANNINI & ASSOCIATES, we're trained in all kinds of appraisal reviews, review practices and the requirements of review appraisers.