Quality Appraisal Reviews by STEVEN GIANNINI & ASSOCIATES

As said in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, impartial real estate appraisal and evaluation program," and that appraisers completing reviews have to "have the familiarity and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are objective, efficient, professional and compliant with the Federal Reserve's guidelines, contact STEVEN GIANNINI & ASSOCIATES.

According to the Federal Reserve, appraisal reviews "must figure out whether the appraisal or evaluation is pertinent for the transaction, the risk of the transaction, and whether the method by which the collateral valuation is attained guarantees independence and quality." They "should also indicate whether the appraisal or evaluation report is true to the engagement letter, which describes the scope of the appraisal assignment." The Federal Reserve also notes that "some financial institutions augment regular reviews with post-funding evaluations of appraisal quality for any of their high-liability or higher-value transactions as a means to help in detecting valuation problems."

In addition to adapting our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we can 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 STEVEN GIANNINI & ASSOCIATES, we're skilled in all forms of appraisal reviews, review procedures and the obligations of review appraisers.