Appraisal Reviews

As said in a statement by the Federal Reserve, "financial institutions must have effective, objective real estate appraisal and evaluation programs," and that appraisers performing reviews should "have the familiarity and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." A & S Appraisal Services, Inc. provides appraisal review services that are independent, expert, professional and in line with the Federal Reserve's rules.

Appraisal reviews "ought to decide whether the appraisal or evaluation is applicable for the transaction, the risk of the transaction, and whether the method by which the collateral valuation is attained ensures independence and quality," the Federal Reserve says. They "should also signify whether the appraisal or evaluation report is true to the engagement letter, which sets forth the scope of the appraisal assignment." The Federal Reserve also says that "some banks reinforce routine reviews with post-funding surveys of appraisal quality for a few of their higher-risk or high-value dealings as a control to aid in uncovering valuation issues."

In addition to coordinating our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we can produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At A & S Appraisal Services, Inc., we're qualified in every kind of appraisal review, review procedure and the requirements of review appraisers.