Appraisal Reviews with Warren Appraisals

According to an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, objective real estate appraisal and evaluation program," and that appraisers fulfilling reviews are obligated to "have the knowledge and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are impartial, expert, professional and compliant with the Federal Reserve's guidelines, just contact Warren Appraisals.

Appraisal reviews "must figure out whether the appraisal or evaluation is pertinent for the transaction, the uncertainty of the transaction, and whether the practices by which the collateral valuation is collected ensures independence and quality," according to the Federal Reserve. In addition, they "should announce whether the appraisal or evaluation report is consistent with the letter of engagement, which gives an account of the capacity of the appraisal assignment." Lastly, the Federal Reserve states that "some financial institutions reinforce routine reviews with post-funding assessments of appraisal quality for a number of their higher-liability or high-value dealings as a means to aid in addressing valuation concerns."

In addition to tailoring our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we will formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Warren Appraisals, we're qualified in all types of appraisal reviews, review processes and the requirements of review appraisers.